Venture capital investments are summarized below: | | | | | | | | | | | | | Three Months Ended | | March 30, 2024 | | April 1, 2023 | | (in thousands) | | Beginning balance | $ | 121,158 | | | $ | 129,012 | | | Capital contributions | 3,829 | | | 3,214 | | | Distributions | (9,353) | | | (7,217) | | Gains (losses) | 8,174 | | | (6,848) | | | Foreign currency translation | (100) | | | 260 | | | Ending balance | $ | 123,708 | | | $ | 118,421 | |
The Company also invests, with minority positions, directly in equity of predominantly privately held companies. Strategic investments are summarized below: | | | | | | | | | | | | | Three Months Ended | | March 30, 2024 | | April 1, 2023 | | (in thousands) | | Beginning balance | $ | 122,653 | | | $ | 182,590 | | | Purchase of investments | — | | | 9,266 | | | Distributions | — | | | (4,146) | | | Gain (loss) | (2,294) | | | 3,566 | | Reduction for acquisition of entity (1) | — | | | (12,635) | | | Foreign currency translation | (524) | | | (3,275) | | | Ending balance | $ | 119,835 | | | $ | 175,366 | | | | | | (1) Refer to Note 2. Acquisitions for further discussion on the SAMDI acquisition. |
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