About Kinnevik
Kinnevik is a venture capital firm founded in 1936. It is primarily based out of Stockholm, Sweden. As of May 2025, Kinnevik is an active investor, having invested in 78 companies, with 1 new investment in the last 12 months. It primarily invests in Series C round in United States based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to Consumer and HealthTech. Most recently it led the $21M Series B round of Breathe Battery Technologies along with Volvo Cars. This round also saw participation from Lowercarbon.
Overall, Kinnevik portfolio has seen 13 unicorns, 13 IPOs and 15 acquisitions including key companies like HelloFresh, Lazada and Avito. A lot of funds co-invest with Kinnevik, with names like Rocket Internet sharing a substantial percentage of its portfolio.
Kinnevik has team of 17 people including 1 partners.
Key Metrics
Team Members
, &
Portfolio Count
HelloFresh, Lazada &
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Series A, Series B &
Portfolio Unicorns
Mews, Transcarent &
Portfolio Soonicorns
Deals in last 12 months
Kinnevik's List of Top Investments
Kinnevik has a portfolio of 78 companies, including 13 unicorns. Their most notable investments are in Sure and Babylon.Their portfolio spans across United States, Germany, United KingdomÌý²¹²Ô»å 15 more locations. They have invested in Enterprise Applications, Consumer, HealthTechÌý²¹²Ô»å 21 other sectors, across stages such as Series A, Series B Ìý²¹²Ô»å 7 more. Here is the list of top investments by Kinnevik:1. HelloFresh
Provider of meal recipe kits subscription service. It offers a grocery subscription service where customers receive a weekly box containing three to five easy-to-cook recipes created by professional chefs and nutritionists with instructions and related content. Its menu includes noodles, burgers, fried rice, and more. The mobile application is available for Android and iOS users.
Key facts about HelloFresh
- Founded Year: 2011
- Location: Berlin (Germany)
- Annual Revenue: €1.81B as on Dec 31, 2019
- Stage: Public
- Total Funding till date: $367M
- Employee Count: 21,783 as on Dec 31, 2024
- Investors: Baillie Gifford, Kinnevik and 16 Others
- Latest Funding Round: Post IPO, Aug 05, 2019
- Highlight: Public
2. Lazada
Online marketplace offering multi-category products. The product catalog includes electronics, home appliances, household goods, toys, sports equipment, beauty, fashion, and more. It offers free returns, customer service, and warranty services.
Key facts about Lazada
- Founded Year: 2012
- Location: Singapore (Singapore)
- Annual Revenue: 21.5B THB as on Dec 31, 2023
- Stage: Acquired
- Total Funding till date: $690M
- Investors: Access Industries, Summit Partners and 17 Others
- Latest Funding Round: Series E, Nov 29, 2014, $254M
- Highlight: Acquired
3. Avito
Online marketplace platform offering multi-category second-hand products. Its product catalog includes pet supplies, automobiles, fashion, stationery, property, electronics, beauty, home products, and more. Its mobile application is available on Android and iOS platforms.
Key facts about Avito
4.
Tech enabled mental healthcare solutions and health plans for employers. It offers a platform that leverages data to match individuals with care, ranging from digital support to in person therapy. The platform includes personalized care plans, appointment scheduling, and access to on demand wellness exercises. The solution also incorporates an employee assistance program with assessment, personalized recommendations, and access to a diverse network of providers.
Key facts about Spring Health
- Founded Year: 2016
- Location: New York City (United States)
- Valuation: $3.3B as on Jul 31, 2024
- Stage: Series E
- Total Funding till date: $503M
- Employee Count: 806 as on Dec 31, 2023
- Investors: Kinnevik, Generation Investment Management and
- Latest Funding Round: Series E, Jul 31, 2024, $35M
- Highlight: Editors' Pick
5. Betterment
Betterment is an app-based automated investment and retirement planning platform. It provides tools for spending, saving, and developing customised plans for the future. Users focus on investing in ETFs and cash reserves for long-term financial goals. the app is available for Android and iOS platform.
Key facts about Betterment
- Founded Year: 2010
- Location: New York City (United States)
- Valuation: $700M as on Mar 29, 2016
- Stage: Series F
- Total Funding till date: $335M
- Employee Count: 399 as on Dec 31, 2022
- Investors: Odenn Ventures, SeedFord Partners and 42 Others
- Latest Funding Round: Conventional Debt, Sep 29, 2021, $100M
- Highlight: Editors' Pick
Kinnevik's Year-on-Year Investment Trends
Kinnevik has invested in 79 companies over the last 15 years, with an average of 4 new investments annually in the last 10 years. In 2024, it made 9 investments, while as of May 2025, it has made 4 investments in this year. Its most recent first time investment was in Breathe Battery Technologies and most recent follow-on round was in Jobandtalent.
Year | No. of Investments | ||
|---|---|---|---|
1stÌý¸é´Ç³Ü²Ô»å | Follow-on | Total | |
2025 (YTD) | 1 | 3 | 4 |
2024 | 1 | 8 | 9 |
2023 | 3 | 3 | 6 |
2022 | 10 | 5 | 15 |
2021 | 9 | 7 | 16 |
2020 | 5 | 6 | 11 |
2019 | 2 | 4 | 6 |
2018 | 9 | 1 | 10 |
2017 | 0 | 4 | 4 |
2016 | 3 | 3 | 6 |
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Kinnevik's Investments by Stage
Kinnevik has made 20 investments in Series A stage with an average round size of $19.3M, 20 investments in Series B stage with an average round size of $56.5M and 14 investments in Series C stage with an average round size of $100M.Note: We have considered here, only first round of investments
Stage of entry | No. of Investments |
|---|---|
Series A | 20 |
Series B | 20 |
Series C | 14 |
Series D | 7 |
Seed | 3 |
Others | 6 |
Kinnevik's Investments by Sector
Kinnevik has a diverse portfolio, with companies operating in the Consumer, Enterprise Applications, Retail, FinTech and HealthTech. Notably, it has invested in 67 Tech companies, 57 Consumer (B2C) companies, 30 Software companies and at least 27 companies focusing on Enterprise (B2B).
Note: We have considered here, only first round of investments
Sector | No. of Investments |
|---|---|
Consumer | 32 |
Enterprise Applications | 18 |
Retail | 18 |
FinTech | 12 |
HealthTech | 12 |
Others | 82 |
Kinnevik's Investments by Geography
Kinnevik has made most investments in United States (19), followed by Germany where it has made 11 investments.
Note: We have considered here, only first round of investments
Country | No. of Investments |
|---|---|
United States | 19 |
Germany | 11 |
United Kingdom | 10 |
Denmark | 6 |
Sweden | 4 |
Others | 22 |
Kinnevik's recent investments
Here are the most recent investments by Kinnevik:
Date | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
May 07, 2025 | United Kingdom | Series B | $21M | Lowercarbon [+1] | |
Apr 10, 2025 | Spain | Series F | €92²Ñ | [+5] | |
Mar 04, 2025 | Netherlands | Series D | $75M | ||
Jan 28, 2025 | Spain | Series E | $200M | [+4] | |
Nov 21, 2024 | United States | Series C | $130M | Baillie Gifford [+9] |
Get the detailed list of all investments by Kinnevik. Download now!Unicorns in Kinnevik's Portfolio
Here is a list of unicorns in Kinnevik's portfolio:
ÃØÃÜÑо¿Ëù Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
58 | Cloud-based hospitality management software for hotels and hostels | 2012 | Amsterdam | Series D | iivrswf | ||
64 | Provider of employee health benefits solutions | 2018 | San Francisco | Series D | msyzsfu | ||
78 | SaaS-driven corporate travel management & booking engine platform | 2015 | Barcelona | Series E | nzaqdrd | ||
77 | Cloud-based platform for on-demand staffing | 2008 | Madrid | Series F | omcekzi | ||
61 | Manufacturer of sustainable bio-based chemicals using a proprietary platform | 2016 | Houston | Series D | {ae{{eh |
IPOs and Publicly Listed companies in Kinnevik's Portfolio
Here are Kinnevik's portfolio companies that went public:
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Acquired companies in Kinnevik's Portfolio
Here are Kinnevik's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Mar 12, 2025 | Apr 2013 | Series A | $20M | |
Oct 10, 2024 | Sep 06, 2018 | Series B | $60M | |
Oct 25, 2023 | Mar 01, 2013 | Series A | $7M | |
Oct 14, 2022 | Nov 16, 2010 | Series A | $26M | |
Oct 14, 2021 | Sep 04, 2019 | Series B | $100M |
Team profile of Kinnevik
Kinnevik has a team of 17 membersÌýincluding 1 Partner and 7 PrincipalsÌýlocated in United Kingdom and Sweden. Kinnevik's team sits on the board of 1 company.Here is a list of top team members in Kinnevik:
Name | Designation | Location | Board Memberships | Contact details |
|---|---|---|---|---|
Partner | Stockholm | - | - | |
Principal | London | - | ||
Principal | London | |||
Principal | Stockholm | - | - | |
Principal | Sweden | - | , | |
Principal | Stockholm | - | ||
Principal | London | - | ||
Principal | Stockholm | - | ||
Advisor | Stockholm | - | - | |
Associate | London | - | ||
Associate | London | - |
Get the full list of Kinnevik's team & partners for free. Download now!Co-investors of Kinnevik
Over the past 15 years, 671 investors have co-invested in Kinnevik's portfolio companies.
- Invested before Kinnevik:ÌýJ P Morgan, and 323 others have invested in rounds before Kinnevik. There are 4 companies where J P Morgan has invested before Kinnevik and 4 companies where Y Combinator has invested before Kinnevik.
- Top Co-investors of Kinnevik:Ìý171 investors entered a company along with Kinnevik. These include investors like Rocket Internet (8 companies).
- Invested after Kinnevik:ÌýA total of 175 investors have invested in Kinnevik's portfolio after their investments. Top Investors include Access Industries (4 companies), Tiger Global Management (4 companies) and Baillie Gifford (2 companies).
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