Market risk on investment portfolio
The main financial risk is that portfolio values change with equity, credit, and market prices.
- Scope
- Investment holdings and fair value changes
- Materiality
- high
Athanase Innovation
Athanase Innovation is a Swedish investment organization focused on private and public innovation companies. Through its portfolio and wholly owned subsidiary Ivisys, it combines investment ownership with an operating business that develops and sells industrial inspection technology.
| % | |
|---|---|
| Investment portfolio | 75% Ownership stakes in private and public innovation companies held as long-term investments. |
| Industrial inspection systems | 25% PalletAI units used for automated quality control, inspection, and measurement of pallets. |
The investment business serves investors seeking exposure to otherwise hard-to-access innovation assets through a...
- Public-market investorsprimary
Buy shares in Athanase Innovation to gain exposure to private and public innovation assets through a listed company.
- Industrial equipment customerssecondary
Buy PalletAI inspection units from Ivisys for automated quality control, inspection, and measurement.
- Portfolio companies and co-investment partnerssecondary
Receive capital and long-term ownership support from the investment organization.
The company is Swedish and reports through a Stockholm-listed structure, so its core financial and ownership base is in...
- •Sweden is the corporate and listing base
- •Stockholm market exposure shapes investor access
- •Portfolio holdings can include foreign-currency assets
- •Ivisys may sell into international industrial markets
Athanase Innovation's strategy is to hold long-term positions in private and public innovation companies and provide...
01
Long-term ownership of innovation assetslong-term
The model depends on holding investments long enough to benefit from value creation and portfolio development.
02
Access to private-market style opportunitiesmedium-term
The listed structure is designed to make hard-to-access innovation assets available to public investors.
03
Develop Ivisys as an operating assetmedium-term
The subsidiary adds a product business and can create additional value beyond portfolio investments.
The business is exposed to market risk because portfolio values depend on financial market prices, valuation changes,...
Private equity valuation and liquidity risk
Private investments are less transparent and priced less frequently, making exits and valuations uncertain.
- Scope
- Private equity holdings
- Materiality
- high
Foreign exchange risk
Investments in foreign currencies can change in value when exchange rates move.
- Scope
- Non-SEK portfolio assets
- Materiality
- medium
Regulatory and legal risk
Changes in laws and regulations can affect the service or product offering and compliance burden.
- Scope
- Group operations and Ivisys products
- Materiality
- medium
Operational and key-person risk
The group depends on internal processes, systems, and a limited number of key individuals.
- Scope
- Corporate and investment decision-making
- Materiality
- medium
Fair value measurement of investments
Can create volatile reported profit and net asset value
Consolidation and minority interests
Affects group profit attribution and equity presentation
Foreign currency translation
Can move reported carrying values and comprehensive income
Valuation of private holdings
Can materially affect carrying values and gains/losses
: 11/08/2026