Portfolio valuation risk
Most of Kinnevik's value is tied to fair-valued investments whose prices can move sharply.
- Scope
- Unlisted and listed equity holdings
- Materiality
- high
Kinnevik
Kinnevik is a Swedish investment company that owns and actively supports a portfolio of growth businesses, mainly through equity investments in private and listed companies. Its portfolio has historically been concentrated in digital consumer, software, healthcare, and financial services businesses across Europe, the United States, and selected other markets.
6.38
6.27
| % | |
|---|---|
| Portfolio Investments | 100% Equity stakes in private and public companies held for long-term value creation. |
| Active Ownership Support | 0% Strategic, governance, and operational support provided to portfolio companies. |
Kinnevik does not sell products to end consumers; its direct counterparties are portfolio companies, founders, and...
- Portfolio companiesprimary
Businesses receiving capital, governance support, and strategic input from Kinnevik.
- Founders and management teamsprimary
Entrepreneurs partnering with Kinnevik for scale-up capital and active ownership.
- Co-investors and transaction counterpartiessecondary
Partners in funding rounds, divestments, and other portfolio transactions.
- Public shareholdersprimary
Investors buying Kinnevik shares for diversified exposure to its portfolio.
Kinnevik is headquartered in Sweden and is listed on Nasdaq Stockholm. Its investment activity is concentrated in...
- •Headquartered in Sweden and listed on Nasdaq Stockholm
- •Core investment focus in Europe, especially the Nordics
- •Meaningful exposure to the United States through portfolio holdings
- •Selective exposure to other markets via growth investments
Kinnevik’s strategy is to back challenger businesses with disruptive technology and support them as an active owner...
01
Active ownership of portfolio companiesmedium-term
Kinnevik seeks to create value through governance, strategic support, and capital allocation.
02
Portfolio diversification across growth sectorsmedium-term
Diversification reduces dependence on any single company or industry outcome.
03
Long-term value creation through challenger businesseslong-term
The model depends on identifying companies that can scale and compound value over time.
Kinnevik’s main risks come from portfolio valuation changes, liquidity and financing needs, foreign exchange exposure,...
Liquidity and financing risk
The company may need cash for follow-on investments, commitments, or debt refinancing.
- Scope
- Investment activity and balance sheet liquidity
- Materiality
- high
Foreign exchange risk
Portfolio companies operate in multiple currencies while reporting is in SEK.
- Scope
- Cross-border investments and translations
- Materiality
- medium
Interest rate risk
Higher rates can raise financing costs and pressure growth-company valuations.
- Scope
- Debt and valuation multiples
- Materiality
- medium
Fair value measurement of unlisted investments
Can materially change profit, equity, and NAV
Level 3 valuation inputs
High sensitivity to market conditions and company-specific performance
Dividend in kind accounting
May create volatility in reported investment income and equity
: 11/08/2026