”The first quarter of 2022 was turbulent. Russia’s invasion of
Key Strategic Highlights
- We doubled-down on our investment theme ’the future of work’ through two new investments – Omnipresent, a SaaS-based employment partner, and SafetyWing, a workforce insurance provider
- Transcarent, the first comprehensive health and care experience company for self-insured employers, was added to the portfolio
- We led a funding round in Agreena, supporting farmers’ transition to regenerative agriculture practices through the voluntary carbon offset market
- Follow-on investments were concluded in Lunar,
Common and Joint Academy - Private market valuations are increasingly coming in line with public market levels, putting short-term pressure on our net asset value but creating long-term opportunities as the pendulum shifts in favor of active, hands-on investors with long investment horizons
Kinnevik ranked first in the VC category of Equality Group’s international ”Equality, Diversity and Inclusion 2022 Private Equity & Venture Capital Index”
Investment Management Activities
- We invested
SEK 1,658m in the quarter, including:SEK 546m into TranscarentSEK 377m into OmnipresentSEK 211m into LunarSEK 177m into SafetyWingSEK 127m into Agreena
- We continued to reallocate capital within our growth portfolio by releasing
SEK 1.0bn fromTeladoc , adding to theSEK 2.2bn released last quarter
Financial Position
- NAV of
SEK 67.9bn (SEK 244 per share), downSEK 4.5bn or 6% in the quarter - Net cash position of
SEK 5.0bn , corresponding to 7.8% of portfolio value by quarter-end - Pro forma net cash position of
SEK 8.1bn after dividends fromTele2 to be received in May
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/oq7e39pi
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: +1 631 913 1422
SE: +46 8 566 426 51
Confirmation code: 43894016#
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