Kinnevik's NAV improves 11 percent, completes Zalando distribution

For the quarter ended June 30, 2021, Kinnevik reported NAV of 76.2 billion Swedish krona or 274 Swedish krona per share), up 12.6 billion Swedish krona or 11 percent compared to the same quarter previous year. The company’s net cash position at the end of the quarter was 4.3 billion Swedish krona, including 563 million Swedish krona in dividends from Tele2 received in early July, corresponding to 6 percent of portfolio value by quarter-end.

During the quarter under review, the company distributed its Zalando investment to the shareholders.

“With the Zalando distribution completed, we continue our pivot and strengthen our strategic focus on younger digital innovators that aim to reimagine everyday lives while generating sustainable returns over the long-term,” said Georgi Ganev, CEO of Kinnevik in a statement.

The important highlights of the quarter include Babylon’s announcement of becoming a public company through merging with the SPAC Alkuri Global Acquisition Corp. Pleo raised 150 million dollars in a funding round.

Kinnevik increased valuation of Budbee, led a 12 million euros funding round in Superb, the all-in-one guest experience management platform for restaurants and invested 23 million dollars into Parsley Health, a subscription service which offers personalised doctor-led care and support for chronic conditions for women.

In July, the company also invested 49 million dollars into Lunar, the Nordic challenger bank, alongside its former Zalando partners Heartland.