Kinnevik's Q1 net asset value declines by 6 percent

In the first quarter, Kinnevik reported NAV of 67.9 billion Swedish krona or 244 Swedish krona per share, down 4.5 billion Swedish krona or 6 percent.

The company said, its net cash position at the end of the quarter was 5 billion Swedish krona, corresponding to 7.8 percent of portfolio value and pro forma net cash position was 8.1 billion Swedish krona after dividends from Tele2 to be received in May.

”The first quarter of 2022 was turbulent. However, despite the new macro political and financial reality, it is our firm belief that quality companies with innovative customer propositions will continue to grow and create value,” said Georgi Ganev, CEO of Kinnevik in a statement.

During the quarter under review, Kinnevik doubled-down on its investment theme ’the future of work’ through two new investments – Omnipresent, a SaaS-based employment partner, and SafetyWing, a workforce insurance provider.

Transcarent, the comprehensive health and care experience company for self-insured employers, was added to the company’s portfolio. The company also led a funding round in Agreena, supporting farmers’ transition to regenerative agriculture practices through the voluntary carbon offset market. Follow-on investments were completed in Lunar, Common and Joint Academy.

Kinnevik invested 1,658 million Swedish krona in the quarter, including 546 million Swedish krona into Transcarent, 377 million Swedish krona into Omnipresent, 211 million Swedish krona into Lunar, 177 million Swedish krona into SafetyWing and 127 million Swedish krona into Agreena.