Kinnevik net asset value declines by 3 percent

For the period from January 1 to June 30, 2023, Kinnevik reported NAV of 54 billion Swedish krona or 192 Swedish krona per share, down 1.4 billion Swedish krona or 3 percent in the quarter.

The company’s net cash position was 8.8 billion Swedish krona, including 0.5 billion Swedish krona in dividends received from Tele2, corresponding to 19 percent of portfolio value.

“Disciplined capital allocation and using our strong financial position wisely to maximise the impact of our highest-conviction companies are crucial to long-term value creation. During the quarter, our dedication to these priorities and our unique ability to seize opportunities in the current market is manifested by our USD 100 million investment in Spring Health,” said Georgi Ganev, CEO of Kinnevik in a statement.

During the quarter under review, the company acquired secondary shares in Spring Health, increasing ownership to 12 percent.

Kinnevik made use of market conditions to accrete ownership and capital commitments in TravelPerk, Instabee, Recursion and HungryPanda, totalling 0.6 billion Swedish krona.

The company invested 2.2 billion Swedish krona in the quarter, including 1,069 million Swedish krona into Spring Health, 258 million Swedish krona into Enveda, 254 million Swedish krona into Instabee, 203 million Swedish krona into TravelPerk, 187 million Swedish krona into Mathem, 145 million Swedish krona into Recursion, 108 million Swedish krona into Charm Industrial and 15 million Swedish krona into HungyPanda.