# Kinnevik: portfolio, investments and team

> Kinnevik is a vc firm based in Sweden. 54 investments on record, 3 in the last 12 months, latest Sept 2026. Portfolio, stages, co-investors and team.

Source: https://millionrounds.com/fund/kinnevik (Millionrounds; every figure on the page links to its filing or article)

Sweden · [Investor](https://millionrounds.com/investors)

# Kinnevik

Last cheque observed Sep 2026; 54 cheques on record.

Email

Deploying now VC firm

Seed Series A Series B B2C Consumer B-to-c

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Deploying now

**50%** of best year **3** **cheques in 12 months**, 54 on record

Since the last cheque **47** days **00** hrs **00** min **00** sec

Median round **$99M** Rounds led **5 of 54** Sole investor **6 rounds** Exits **4 from the portfolio** Mostly in **Sweden, 18%**

Pitch Kinnevik

## Kinnevik highlights

- 01 3 cheques in the last 12 months
- 02 Mostly Growth and Series B: 55% of its rounds
- 03 Sole investor in 6 rounds, median $21M
- 04 4 exits from the portfolio

## What they do

> We are a leading growth investor, active owner and operational partner, providing patient capital to challenger technology-enabled businesses in Europe and the US. From their own website

- **Type:** VC firm (from a list, unverified)
- **Cheque size:** Up to $50M as they say
- **Stages:** Seed Series A Series B Growth Pre-IPO
- **Sectors:** B2C Consumer B-to-c
- **Based in:** Stockholm, Sweden
- **Cold pitches:** Not accepted

## The record

Every round we can evidence, newest first **54 appearances**

- **2026** 3 rounds
- **Sept** **[Tandem Health](https://millionrounds.com/company/tandem-health)** Series B · SE · ArcticStartup **$100M** With 5 others
- **Mar** **[Anterior](https://millionrounds.com/company/anterior)** Series B · US · AlleyWatch **$40M** With 4 others
- **Jan** **[Oviva](https://millionrounds.com/company/oviva)** Series D · CH · Firms' own news pages **$234M** *Led*
- **2025** 5 rounds
- **Aug** **[Aira](https://millionrounds.com/company/aira)** Growth · SE · Silicon Canals **$174M** With 6 others
- **May** **[Breathe Battery Technologies](https://millionrounds.com/company/breathe-battery-technologies)** Series B · GB · TechCrunch **$21M** *Led*
- **Apr** **[Jobandtalent](https://millionrounds.com/company/jobandtalent)** Growth · ES · TechCrunch **$103M** With 6 others
- **Mar** **[Mews](https://millionrounds.com/company/mews)** Growth · NL · TechCrunch **$75M** With 3 others
- **Jan** **[TravelPerk](https://millionrounds.com/company/travelperk)** Series E · ES · Silicon Canals **$200M** With 8 others
- **2024** 1 round
- **Sept** **[Nory](https://millionrounds.com/company/nory)** Series B · GB · Firms' own news pages **$37M** *Led*
- **2019** 5 rounds
- **Sept** **[VillageMD](https://millionrounds.com/company/villagemd)** Series B · US · FinSMEs **$100M** *Led*
- **Aug** **[Babylon Health](https://millionrounds.com/company/babylon-health)** Series C · GB · TechCrunch **$550M** With 3 others
- **May** **[Pleo](https://millionrounds.com/company/pleo)** Series B · DK · Tech.eu **$56M** With 3 others
- **Apr** **[Budbee](https://millionrounds.com/company/budbee)** SE · FinSMEs **$5.4M** With 1 other
- **Feb** **[MatHem](https://millionrounds.com/company/mathem)** SE · FinSMEs **$97M** Sole investor
- **2018** 3 rounds
- **Oct** **[GoEuro](https://millionrounds.com/company/goeuro)** DE · FinSMEs **$150M** With 1 other
- **Oct** **[TravelPerk](https://millionrounds.com/company/travelperk)** Series C · ES · TechCrunch **$44M** With 2 others
- **Aug** **[Kolonial.no](https://millionrounds.com/company/kolonial-no)** NO · Tech.eu **$36M** Sole investor
- **2015** 5 rounds
- **Jul** **[Global Fashion Group](https://millionrounds.com/company/global-fashion-group)** Venture · LU **$167M** With 2 others
- **Apr** **[Quikr](https://millionrounds.com/company/quikr)** Series H · IN **$150M** With 2 others
- **Mar** **[NextCommerce](https://millionrounds.com/company/nextcommerce)** Venture · AU **Undisclosed** With 2 others
- **Feb** **[DealDey Limited](https://millionrounds.com/company/dealdey-limited)** Series B · NG **$5.0M** Sole investor
- **Jan** **[Saltside Technologies](https://millionrounds.com/company/saltside-technologies)** Series C · SE **$40M** With 2 others
- **2014** 10 rounds
- **Nov** **[Lazada Group](https://millionrounds.com/company/lazada-group)** Series F · MY **$250M** With 3 others
- **Oct** **[Konga Online Shopping Limited](https://millionrounds.com/company/konga-online-shopping-limited)** Series C · NG **$40M** With 1 other
- **Sept** **[Quikr](https://millionrounds.com/company/quikr)** Series G · IN **$60M** With 7 others
- **Jun** **[Saltside Technologies](https://millionrounds.com/company/saltside-technologies)** Growth · SE **$25M** Sole investor
- **Jun** **[Yell.ru](https://millionrounds.com/company/yell-ru)** Venture · RU **$11M** With 1 other
- **Apr** **[BIMA](https://millionrounds.com/company/bima)** Series B · SE **$22M** With 2 others
- **Mar** **[Quikr](https://millionrounds.com/company/quikr)** Series F · IN **$90M** With 6 others
- **Feb** **[Avito.ru](https://millionrounds.com/company/avito-ru)** Growth · RU **$17M** Sole investor
- **Feb** **[Foodpanda](https://millionrounds.com/company/foodpanda)** Series C · DE **$20M** With 1 other
- **Jan** **[Konga Online Shopping Limited](https://millionrounds.com/company/konga-online-shopping-limited)** Series B · NG **$25M** With 1 other
- **2013** 11 rounds
- **Dec** **[iROKO Partners](https://millionrounds.com/company/iroko-partners)** Series D · GB **$8.0M** With 2 others
- **Dec** **[Lazada Group](https://millionrounds.com/company/lazada-group)** Series E · MY · techcrunch.com **$250M** With 3 others
- **Nov** **[Linio](https://millionrounds.com/company/linio)** Growth · MX · techcrunch.com **$50M** With 5 others
- **Jul** **[THE ICONIC](https://millionrounds.com/company/the-iconic)** Venture · AU · techcrunch.com **$26M** With 2 others
- **Jun** **[Lazada Viet Nam](https://millionrounds.com/company/lazada-viet-nam)** Growth · VN **$100M** With 2 others
- **Jun** **[Lazada Group](https://millionrounds.com/company/lazada-group)** Series D · MY · techcrunch.com **$100M** With 5 others
- **May** **[ZALORA Group](https://millionrounds.com/company/zalora-group)** Series C · MY · techcrunch.com **$100M** With 3 others
- **Apr** **[Mobly](https://millionrounds.com/company/mobly)** Growth · BR · techcrunch.com **$20M** With 3 others

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

## The team

We hold **24** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

## What the register says

From the firm's own filings with the SEC, which it must file accurately by law

**1+** funds on file numbered funds in its name

## Exits from the portfolio

Companies it backed that were later bought or listed **4 in all**

**[Avito.ru](https://millionrounds.com/company/avito-ru)** Bought by [Naspers](https://millionrounds.com/fund/naspers) **$1.2B** Oct 2015

**[Sapato.ru](https://millionrounds.com/company/sapato-ru)** Bought by KupiVIP **Undisclosed** Apr 2015

**[Sapato.ru](https://millionrounds.com/company/sapato-ru)** Bought by OZON.ru **Undisclosed** Feb 2012

**[GLOSSYBOX](https://millionrounds.com/company/glossybox)** Bought by Lust have it! **Undisclosed** Jan 2012

An exit counts when it came after the firm's first round in the company. From historical deal records.

## The cheque

Seed Series A Series B

Median round joined **$99M** the round, not its cheque Alone, median **$21M**

Led 5 of 54 rounds **9%**

- **Said size:** Up to $50M
- **Sole investor:** 6 rounds
- **Last cheque:** Sept 2026
- **Exits:** 4 from the portfolio

Rounds by stage said on their site

- Growth said *11*
- Series B said *10*
- Series C *9*
- Venture *4*
- Series A said *4*
- Seed said *-*
- Pre-IPO said *-*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [Rocket Internet](https://millionrounds.com/fund/rocket-internet-6) 10
- [Summit Partners](https://millionrounds.com/fund/summit-partners) 6
- [Verlinvest](https://millionrounds.com/fund/verlinvest) 5
- [Temasek Holdings](https://millionrounds.com/fund/temasek) 4
- [Tengelmann Ventures](https://millionrounds.com/fund/tengelmann-ventures) 4
- [Tiger Global Management](https://millionrounds.com/fund/tiger-global-management) 4

**Pitching Kinnevik?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque.

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## Who they invest alongside

The investors most often in the same rounds as Kinnevik. A count of rooms they were both in, not a relationship either has claimed.

[**Rocket Internet** Investment firm **10** rounds together](https://millionrounds.com/fund/rocket-internet-6)[**Summit Partners** Private equity **6** rounds together](https://millionrounds.com/fund/summit-partners)[**Verlinvest** Family office **5** rounds together](https://millionrounds.com/fund/verlinvest)[**Temasek Holdings** VC firm **4** rounds together](https://millionrounds.com/fund/temasek)[**Tengelmann Ventures** VC firm **4** rounds together](https://millionrounds.com/fund/tengelmann-ventures)[**Tiger Global Management** VC firm **4** rounds together](https://millionrounds.com/fund/tiger-global-management)[**Access Industries** Corporate VC **3** rounds together](https://millionrounds.com/fund/access-industries)[**HV Holtzbrinck Ventures** Private equity **3** rounds together](https://millionrounds.com/fund/hv-holtzbrinck-ventures)[**Holtzbrinck Ventures** VC firm **3** rounds together](https://millionrounds.com/fund/holtzbrinck-ventures)[**Naspers** VC firm **3** rounds together](https://millionrounds.com/fund/naspers)[**Accel** VC firm **2** rounds together](https://millionrounds.com/fund/accel)[**Atomico** VC firm **2** rounds together](https://millionrounds.com/fund/atomico)

## Recently backed

The latest companies Kinnevik put money into.

[**Tandem Health** $100M · Sept 2026](https://millionrounds.com/company/tandem-health)[**Anterior** $40M · Mar 2026](https://millionrounds.com/company/anterior)[**Breathe Battery Technologies** $21M · May 2025](https://millionrounds.com/company/breathe-battery-technologies)[**Mews** $75M · Mar 2025](https://millionrounds.com/company/mews)[**TravelPerk** $200M · Jan 2025](https://millionrounds.com/company/travelperk)[**Nory** $37M · Sept 2024](https://millionrounds.com/company/nory)

## Quick answers about Kinnevik

### What does Kinnevik invest in?

Kinnevik invests most often at Growth and Series B (55% of the rounds on record), in sectors such as B2C, Consumer and B-to-c.

### How active is Kinnevik?

54 investments on record, 3 of them in the last 12 months, and it led 5. The most recent was in Sept 2026.

### What has Kinnevik invested in recently?

Its most recent investments on record: Tandem Health (Series B, Sept 2026), Anterior (Series B, Mar 2026) and Oviva (Series D, Jan 2026).

### How big are Kinnevik's cheques?

The median round it joins is $99M.

### Does Kinnevik lead rounds?

Sometimes: it led 5 of its 54 investments on record (9%).

### Where does Kinnevik invest?

Most of the companies it backs are in Sweden (18%), the United Kingdom (10%) and Malaysia (10%).

### Is Kinnevik investing now?

Yes: it is actively investing, with 3 investments in the last 12 months.

### Who does Kinnevik invest alongside?

Most often Rocket Internet (10 rounds together), Summit Partners (6 rounds together) and Verlinvest (5 rounds together).

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