Bilbel Capital

• Semi-Annual Letter ↗ Bilbel Capital concentrated on five deeply discounted businesses and made Water Oasis Group its central thesis, citing its beauty-services brand, prepaid-treatment cash float and scope to acquire weaker Hong Kong clinics. It sold most of CareCloud to fund more undervalued opportunities while arguing the company’s low-cost revenue-cycle platform can withstand AI-driven pricing pressure. 1H 2026 WOSSF $107MCCLD $93M

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