”We continue to strengthen and build out our growth portfolio at a rapid pace to maintain the momentum of our strategic transformation, and note the interest of founders and investors to partner with us. This is a significant recognition of our ability to identify the businesses of tomorrow and be their preferred investor as they grow and shape a re-imagined everyday.”
Key Strategic Highlights
- Betterment raised
USD 160m in a funding round to accelerate the record growth the company has delivered year-to-date across its B2C and B2B offering, leading to a significant uplift in valuation - Cityblock raised additional capital to extend its reach and battle health inequities for a fast-growing member population, at a valuation twice as high as the round in March this year
- Babylon reaffirmed its 2021 and 2022 growth guidance and secured
USD 200m in sustainability-linked financing as it nears completion of its SPAC merger transaction - We strengthened our Growth Portfolio materially through four new investments –
Spring Health and Quit Genius in specialised virtual-enabled healthcare, leading embedded insurance enabler Sure, and the Nordic challenger bank Lunar - Tele2 and Deutsche Telekom agreed to sell its
Netherlands joint venture, and Tele2's board intend to propose an extraordinary dividend that strengthens our financial position by more than SEK 2bn - The value of our private profolio grew by
SEK 4.5bn , driven by net revaluations ofSEK 2.2bn and new investments ofSEK 2.3bn
Investment Management Activities
- We invested
SEK 2,266m in the quarter, including four new companies:SEK 861m intoSpring Health SEK 506m into LunarSEK 435m into SureSEK 259m into Quit Genius
Financial Position
- NAV of
SEK 75.8bn (SEK 273 per share), downSEK 0.3bn or 0.4% in the quarter and upSEK 13.3bn or 21.3% year-on-year - Net cash position of SEK 1.8bn, corresponding to 2.4% of portfolio value by quarter-end
Events After the Quarter
- In October, we announced our commitment to sell a minimum USD 340m stake in
VillageMD to Walgreens Boots Alliance as the two companies extend their partnership Kinnevik was awarded the Allbright prize, being named the company on Nasdaq Stockholm that shows the strongest results in gender equality
A conference call will be held today at 10.00 CEST to present the results. The presentation will be held in English and also be made available via audiocast on Kinnevik’s website, www.kinnevik.com.
Link to the audiocast: https://edge.media-server.com/mmc/p/pubtg4fi
Those who wish to participate in the conference call are welcome to dial-in on the below numbers. To ensure that you are connected to the conference call, please dial in and register your attendance a few minutes before the conference call begins.
Dial-in numbers:
US: +1 6319131422
SE: +46 856642651
Confirmation code: 36768668#
This is information that
For further information, visit www.kinnevik.com or contact:
Phone +46 (0)70 762 00 50
Email press@kinnevik.com
Kinnevik’s ambition is to be Europe’s leading listed growth investor, and we back the best digital companies for a reimagined everyday and to deliver significant returns. We understand complex and fast-changing consumer behaviours, and have a strong and expanding portfolio in healthtech, consumer services, foodtech and fintech. As a long-term investor, we strongly believe that investing in sustainable business models and diverse teams will bring the greatest returns for shareholders. We back our companies at every stage of their journey and invest in
Attachment
- Kinnevik_Q3_2021_E
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