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Investor profile

Kinnevik

Venture Capital · Founded 1936 · Stockholms kommun, Sweden

Growth investor and active owner focused on supporting technology-enabled companies in Europe and the US

81 portfolio companies Venture Capital · $15B invested · 158 investments · Investor rank #176 · Last investment 2/2026
Portfolio companies 81 ↑ 32% 5y
Decacorns 1
Thoroughbreds 30 ↑ 19% 5y
01 · Biggest holdings

Kinnevik’s biggest current holdings.

The most valuable companies Kinnevik still holds — unicorns and thoroughbreds it has backed, ordered by Dealroom’s latest valuation. Companies that have been acquired or gone public are in Exits instead. Where a cap table names Kinnevik directly, the stake and its estimated value are shown too.

#CompanyEst. stakeValuationEst. value
  1. 1 Cityblock HealthUnicorn · Health · USA 9% $5.7B $513M
  2. 2 StegraUnicorn · Energy · Sweden $4.1B
  3. 3 Spring HealthUnicorn · Health · USA 7% $3.3B $231M
  4. 4 CedarUnicorn · Health · USA 10% $3.2B $320M
  5. 5 PerkUnicorn · Travel · Spain 15% $2.7B $405M
  6. 6 MewsUnicorn · Travel · Netherlands 10% $2.5B $250M
  7. 7 LunarUnicorn · Fintech · Denmark $2.4B
  8. 8 PleoUnicorn · Fintech · Denmark 14% $2.3B $322M
  9. 9 SolugenUnicorn · Chemicals · USA $2.0B
  10. 10 Job&TalentUnicorn · Jobs Recruitment · Spain $1.5B
  11. 11 BettermentUnicorn · Fintech · USA $1.3B
  12. 12 Enveda BiosciencesUnicorn · Health · USA $1.0B

Estimated value = Kinnevik’s disclosed ownership % × Dealroom’s latest company valuation; direct named stakes only, exited positions excluded. Figures are indicative, not reported marks. See the underlying cap tables on Dealroom →

02 · Exits

Kinnevik’s biggest exits.

Portfolio companies that IPO’d or were acquired at $1B+, with the valuation recorded at exit and — for those still public — their value today. Exit events come from each company’s funding-round history; entry stage from Kinnevik’s transaction record.

$2.5B IPO · 2019
Entered Series B+Now $14BHealth
$8.2B IPO · 2014
Entered Series ANow $1.9BMarketing
Tele2
IPO · 2004
Now $7.9BTelecom
$5.8B IPO · 2014
Entered Series B+Now $6.5BFashion
$4.2B IPO · 2021
Entered Series ANow $449MHealth
$2.7B acquisition · 2015
Entered Series B+Marketing
$2.7B IPO · 2021
Now $1.3BHealth
IPO · 2007
Entered Series B+Now $2.7BGaming
$2.0B acquisition · 2016
Entered Series B+Marketing
$1.9B IPO · 2017
Entered SeedNow $443MFood
Com Hem
$1.7B IPO · 2014
Now $1.8BTelecom
$703M IPO · 2015
Now $1.5BHealth
03 · Portfolio analysis

Where Kinnevik’s portfolio is concentrated.

Distribution of portfolio companies by headquarters country, sector, entry stage and current growth stage. Across all 81 portfolio companies. "Stage entered" is the first priced round the investor joined, derived from the investor’s transaction history.

By countryCount
  1. USA24
  2. Sweden15
  3. Germany12
  4. UK8
  5. Denmark5
  6. Russia4
  7. Singapore4
  8. Nigeria3
  9. Australia2
  10. India2
  11. Spain2
  12. Brazil1
By sectorCount
  1. Health20
  2. Fintech15
  3. Food14
  4. Enterprise Software11
  5. Fashion11
  6. Marketing11
  7. Home Living7
  8. Energy5
  9. Transportation5
  10. Travel5
  11. Jobs Recruitment4
  12. Wellness Beauty4
By stage enteredCount
  1. Series B+52
  2. Series A18
  3. Seed9
By growth stageCount
  1. Late Growth62
  2. Breakout Stage23
  3. Early Growth5
  4. Mature2
04 · Portfolio market map

Inside Kinnevik’s portfolio.

The 60 highest-funded portfolio companies, of 81 tracked.

Stegra
Energy · Unicorn
$4.1B
Lazada
Marketing · Unicorn
$3.1B
Rocket Internet
Marketing · Unicorn
$1.9B
Job&Talent
Jobs Recruitment · Unicorn
$1.5B
Babylon
Health
$449M
Cityblock Health
Health · Unicorn
$5.7B
Oda
Food
$47M
Mews
Travel · Unicorn
$2.5B
Solugen
Chemicals · Unicorn
$2.0B
Perk
Travel · Unicorn
$2.7B
Foodpanda
Food
$500M
Lunar
Fintech · Unicorn
$2.4B
Recursion Pharma
Health · Unicorn
$1.3B
Global Fashion Group
Fashion
$12M
Enveda Biosciences
Health · Unicorn
$1.0B
VillageMD
Health · Unicorn
$1.0B
Omio
Travel
$40M
Spring Health
Health · Unicorn
$3.3B
Pleo
Fintech · Unicorn
$2.3B
Transcarent
Health · Unicorn
$2.2B
Cedar
Health · Unicorn
$3.2B
Aira
Energy
$479M
HelloFresh
Food
$443M
Quikr
Telecom
$577M
Oviva
Health
$937M
Mathem
Food
$484M
Betterment
Fintech · Unicorn
$1.3B
HungryPanda
Food
$500M
Strand Therapeutics
Health
$612M
Dafiti
Fashion
$317M
Livongo Health
Health · Decacorn
$14B
Linio
Wellness Beauty
$138M
Vivino
Food
$700M
Westwing
Fashion
$224M
AVITO
Marketing · Unicorn
$2.5B
Monese
Fintech
$140M
Deposit Solutions
Fintech · Unicorn
$1.1B
Bread
Fintech
$450M
Home24
Home Living
$398M
Vay
Transportation
$475M
Budbee
Transportation
$1.0M
Zalando
Fashion · Unicorn
$6.5B
MILVIK BIMA
Health
$300M
Pelago
Health
$232M
Sure
Fintech
$550M
Common
Real Estate
$200M
Omnipresent
Jobs Recruitment
$15M
Charm Industrial
Energy
$400M
Parsley Health
Health
$104M
Konga
Home Living
$164M
Habyt
Real Estate
$177M
Wordsmith AI
Legal
$350M
Aura
Fintech
$1.7M
Simple Feast
Food
Nick's
Health
$400M
Teladoc
Health · Unicorn
$1.5B
Wimdu
Travel
$1.0M
The Iconic
Fashion
$72M
Instabee
Transportation
$638M
Agreena
Food
$200M
05 · Portfolio founders

Where Kinnevik’s portfolio founders come from.

144 founders across the 92 highest-funded portfolio companies — by current location, university attended, and the companies they worked at before founding. Sourced from the founder records the API links to each portfolio company.

LocationCount
  1. United States38
  2. Sweden20
  3. Germany18
  4. United Kingdom16
  5. Denmark10
  6. Norway6
  7. Russia6
  8. Spain5
  9. India3
  10. Switzerland3
UniversityCount
  1. Massachusetts Institute of Technology6
  2. WHU Otto Beisheim School of Management5
  3. Copenhagen Business School4
  4. Harvard Business School4
  5. Harvard University4
  6. KTH Royal Institute of Technology4
  7. University College London4
  8. Babson College3
  9. Bocconi University3
  10. London Business School3
Previous companyCount
  1. McKinsey & Company10
  2. Boston Consulting Group6
  3. Rocket Internet5
  4. Bain & Company3
  5. eBay3
  6. Massachusetts Institute of Technology3
  7. MIT-IBM Watson AI Lab3
  8. Booking.com2
  9. Deloitte2
  10. Goldman Sachs2
07 · Key people

Key people at Kinnevik.

Source: Dealroom next-gen API — investor team endpoint.