Kinnevik
History
Kinnevik AB is a Swedish investment company that was founded in 1936 by the Stenbeck, Klingspor and von Horn families. The company has a diverse portfolio, with investments in sectors such as telecommunications, e-commerce, entertainment, and financial services.
The company was initially involved in the forestry and iron industries, but under the leadership of Jan Stenbeck in the 1970s, it diversified into new sectors. Stenbeck was instrumental in transforming Kinnevik into a leading player in the telecommunications industry, with significant investments in companies such as Tele2, Com Hem, and Millicom.
Investments
Kinnevik has a long history of investing in both established and emerging companies. The company's investment strategy is focused on building digital consumer businesses that provide innovative solutions to everyday problems.
Some of the notable companies in Kinnevik's portfolio include Zalando, an online fashion retailer; Global Fashion Group, a fashion and lifestyle retail group operating in emerging markets; and Babylon Health, a digital healthcare service provider.
Leadership
The company's leadership has played a crucial role in its growth and success. After Jan Stenbeck's death in 2002, his daughter Cristina Stenbeck took over the reins of the company. Under her leadership, Kinnevik continued to grow and diversify its investment portfolio.
In 2016, Georgi Ganev was appointed as the CEO of Kinnevik. Ganev has a strong background in the digital consumer sector, having previously served as the CEO of Dustin Group, a leading online IT products retailer in the Nordics.
Financial Performance
Kinnevik's financial performance is closely tied to the performance of its portfolio companies. The company's net asset value (NAV) is often used as a measure of its financial health. As of 2020, Kinnevik's NAV was approximately SEK 89.7 billion.
The company's financial performance has been influenced by various factors, including changes in the global economy, fluctuations in exchange rates, and the performance of its portfolio companies.
Corporate Social Responsibility
Kinnevik is committed to responsible investment and sustainable business practices. The company has a comprehensive corporate social responsibility (CSR) strategy that focuses on areas such as environmental sustainability, social impact, and corporate governance.
Kinnevik is a signatory to the United Nations-supported Principles for Responsible Investment (PRI), reflecting its commitment to incorporating environmental, social, and governance (ESG) factors into its investment decision-making process.