Kinnevik reports 52 percent increase in full year net asset value

Kinnevik’s net asset value amounted to 111.7 billion Swedish krona or 402 Swedish krona per share at the end of 2020, up by 3.8 billion Swedish krona or 4 percent in the quarter and 38.4billion Swedish krona or 52 percent in the full year. The company said in a statement that a broad-based revaluation in our private portfolio, which was up 22 percent in the year, together with strong share price performance in Zalando and Global Fashion Group, supported the growth. The strengthened Swedish krona had a negative effect of 4.8 billion Swedish krona in the quarter and 6.4 billion Swedish krona for the full year. Kinnevik also announced that senior investment director Chris Bischoff has decided to leave the company to take up a role as a Managing Director at General Catalyst.

“2020 was a year unlike any other we have experienced. Despite the positive news surrounding vaccines, as of today, Covid-19 continues to have a devastating impact on human lives and economies worldwide. For Kinnevik, it has been a trying year in many ways but also one of the most successful ever,” said Georgi Ganev, CEO of Kinnevik.

Key strategic highlights of Kinnevik’s performance

The company added that Zalando reported exceptionally strong and profitable growth in Q3 and acquired more than one million new customers during Cyber Week. Global Fashion Group successfully raised 120 million euros via a share placement.

The company participated in 160 million dollars funding round in Cityblock valuing the company at more than 1 billion dollars and a 526 million Swedish krona funding round in Budbee led by AMF. Kinnevik further said that during the period under review, the partnership between VillageMD and Walgreens Boots Alliance was accelerated, with Walgreens supporting the roll-out of up to 700 primary care clinics, up from the previously agreed 500 clinics. Kinnevik also invested in two new food companies, HungryPanda, a global leader in online Asian food delivery, and Simple Feast, a leading plant-based meal kit provider.

Kinnevik senior investment director Chris Bischoff steps down

Kinnevik said that Bischoff will continue to represent the company on selected company boards. Bischoff joined Kinnevik in 2013 and during his time with the company has focused on the international investment activities, including leading the investments within Kinnevik’s healthcare portfolio, supported the formation of a strong sector focused investment team and leading the London office.

“I would like to thank Chris for his tremendous contribution to value-creation in Kinnevik, and for having been a great and trusted colleague and thought partner,” added Ganev.

The company added that Natalie Tydeman joined Kinnevik as Senior Investment Director in January 2021.

Picture:Zalando newsroom