About Kinnevik
Kinnevik is a venture capital firm founded in 1936. It is primarily based out of Stockholm, Sweden. As of Sep 2026, Kinnevik is an active investor, having invested in 86 companies, with 2 new investments 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 participated in the $***** Series E round of Enveda Overall, Kinnevik portfolio has seen 16 unicorns, 11 IPOs and 16 acquisitions including key companies like Avito, HelloFresh and Lazada. A lot of funds co-invest with Kinnevik, with names like Rocket Internet sharing a substantial percentage of its portfolio. Kinnevik has team of 16 people including 2 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Series B, Series A & 7 more
Portfolio IPOs
Deals in last 12 months
Kinnevik's List of Top Investments
Kinnevik has a portfolio of 86 companies, including 16 unicorns. Their most notable investments are in Sure and Pelago.Their portfolio spans across United States, Germany, United Kingdom and 16 more locations. They have invested in Enterprise Applications, Consumer, HealthTech and 22 other sectors, across stages such as Series B, Series A and 7 more. Here is the list of top investments by Kinnevik:1. 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
2. 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: €1B+ as on Dec 31, 2018
- Stage: Public
- Total Funding till date: $367M
- Employee Count: 17,595 as on Sep 30, 2026
- Investors: Baillie Gifford, HV Capital and 17 Others
- Latest Funding Round: Post IPO, Aug 05, 2019, $*****
- Highlight: Public
3. Lazada
Online retailer of diverse products providing shopping experiences and digital capabilities. It connects retailers and shoppers through technology, logistics, and payments infrastructure. The platform delivers engaging experiences customised to markets. It enables businesses to scale and grow with digital capabilities.
Key facts about Lazada
- Founded Year: 2012
- Location: Singapore (Singapore)
- Annual Revenue: $500M - $1B as on Dec 31, 2023
- Last Known Valuation: $*****
- Stage: Acquired
- Total Funding till date: $690M
- Employee Count: 21,571 as on Mar 31, 2026
- Investors: Access Industries, Deutsche Capital Group and 17 Others
- Latest Funding Round: Series E, Nov 29, 2014, $*****
- Highlight: Acquired
4. Foodpanda
Online food ordering and delivery platform. It enables users to discover and order food from multiple types of restaurants from nearby locations. The platform also allows users to order groceries. Its application features includes order tracking, delivery management, in-app payments, and more. Its mobile application is available on Android and iOS platforms.
Key facts about Foodpanda
- Founded Year: 2012
- Location: Singapore (Singapore)
- Last Known Valuation: $*****
- Stage: Acquired
- Total Funding till date: $318M
- Employee Count: 17,827 as on Sep 30, 2026
- Investors: Goldman Sachs Investment Partners, Nova Founders Capital and 6 Others
- Latest Funding Round: Series E, Apr 30, 2015, $*****
- Highlight: Acquired
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: $*****
- Stage: Series E
- Total Funding till date: $474M
- Employee Count: 3,902 as on Sep 30, 2026
- Investors: Generation Investment Management, Northzone and 31 Others
- Latest Funding Round: Series E, Jul 16, 2024, $*****
- Highlight: Editors' Pick
Kinnevik's Year-on-Year Investment Trends
Kinnevik has invested in 87 companies over the last 16 years, with an average of 5 new investments annually in the last 10 years. In 2025, it made 10 investments, while as of Sep 2026, it has made 5 investments in this year. Its most recent first time investment was in Anterior and most recent follow-on round was in Enveda.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 2 | 3 | 5 |
2025 | 5 | 5 | 10 |
2024 | 1 | 7 | 8 |
2023 | 3 | 3 | 6 |
2022 | 10 | 4 | 14 |
2021 | 9 | 7 | 16 |
2020 | 5 | 6 | 11 |
2019 | 2 | 4 | 6 |
2018 | 10 | 1 | 11 |
2017 | 0 | 4 | 4 |
Kinnevik's Investments by Stage
Kinnevik has made 22 investments in Series B stage with an average round size of $58.7M, 20 investments in Series A stage with an average round size of $18.1M and 16 investments in Series C stage with an average round size of $97.3M.Stage of entry | No. of Investments |
|---|---|
Series B | 22 |
Series A | 20 |
Series C | 16 |
Series D | 8 |
Seed | 3 |
Others | 6 |
Note: We have considered here, only first round of investments
Kinnevik's Investments by Sector
Kinnevik has a diverse portfolio, with companies operating in the Consumer, Enterprise Applications, Retail, HealthTech and FinTech. Notably, it has invested in 76 Tech companies, 58 Consumer (B2C) companies, 36 Enterprise (B2B) companies and at least 36 companies focusing on Software.Sector | No. of Investments |
|---|---|
Consumer | 34 |
Enterprise Applications | 24 |
Retail | 17 |
HealthTech | 14 |
FinTech | 13 |
Others | 80 |
Note: We have considered here, only first round of investments
Kinnevik's Investments by Geography
Kinnevik has made most investments in United States (23), followed by Germany where it has made 9 investments.Country | No. of Investments |
|---|---|
United States | 23 |
Germany | 9 |
United Kingdom | 9 |
Denmark | 6 |
Sweden | 6 |
Others | 24 |
Note: We have considered here, only first round of investments
Kinnevik's recent investments
Kinnevik has made 5 investments in 2026 so far. Enveda and Tandem Health are the latest among them.Here are the most recent investments by Kinnevik:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Sep 23, 2026 | United States | Series E | 2256 | ||
Sep 14, 2026 | Sweden | Series B | 3051 | [+4] | |
Feb 12, 2026 | United States | Series B | 9011 | [+2] | |
Jan 22, 2026 | United Kingdom | Series D | 2192 | ||
Jan 22, 2026 | Netherlands | Series D | 9035 | [+4] |
Unicorns in Kinnevik's Portfolio
Kinnevik has 16 unicorns in its portfolio - Enveda, Mews, Transcarent and others. The most recent unicorn in their portfolio is Enveda. It became a unicorn in 2025, 2 years after Kinnevik first invested in it.Here is a list of unicorns in Kinnevik's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
64 | AI-based platform to decipher the chemistry of nature and develop new medicines | 2019 | Boulder | Series E | jnebskb | ||
78 | Cloud-native hospitality management system offering an integrated suite of hospitality businesses | 2012 | Amsterdam | Series D | ztatuku | ||
68 | Provider of employee health benefits solutions | 2018 | San Francisco | Series D | tamvjjk | ||
72 | Provider of AI powered platform for managing business travel, expenses, and invoices | 2012 | Austin | Series E | pbqzqho | ||
80 | Provider of an AI-powered platform connecting companies with frontline workers | 2008 | Madrid | Series F | qbawm{j |
IPOs and Publicly Listed companies in Kinnevik's Portfolio
11 of Kinnevik's portfolio companies have become public. Recursion Pharmaceuticals got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ), in Apr 2021 at marketcap of $2.92B and Mobly got listed on the Brazil Stock Exchange (B3) at marketcap of $488M.Here are Kinnevik's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Apr 16, 2021 | Oct 25, 2022 | Post IPO | 4857 | |
Feb 05, 2021 | Apr 30, 2013 | PE | 3137 | |
Nov 09, 2020 | - | - | 6806 | |
Jul 05, 2019 | Dec 10, 2012 | Series C | 8507 | |
Jul 02, 2019 | Jun 30, 2015 | Series D | 9882 |
Acquired companies in Kinnevik's Portfolio
16 companies from Kinnevik's portfolio have been acquired. The most recent acquisition was Habyt in Apr 2026 by Hmlet for $*****.Here are Kinnevik's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Apr 28, 2026 | Oct 04, 2023 | Series C | 4226 | |
Oct 10, 2024 | Sep 06, 2018 | Series B | 3641 | |
Oct 25, 2023 | Mar 01, 2013 | Series A | 3013 | |
Oct 14, 2022 | Nov 16, 2010 | Series A | 9794 | |
Oct 14, 2021 | Sep 04, 2019 | Series B | 1125 |
Team profile of Kinnevik
Kinnevik has a team of 16 members including 2 Partners and 7 Principals located in United Kingdom, Sweden and 1 more location. Kinnevik's team sits on the board of 2 companies.Here is a list of top team members in Kinnevik:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | London | - | ||
Partner | Amsterdam | - | ||
Principal | United Kingdom | Spring Health and Pelago | - | |
Principal | Sweden | - | ||
Principal | London | - | - | |
Principal | London | - | - | |
Principal | London | - | ||
Principal | Stockholm | - | ||
Principal | Stockholm | - | - |
Co-investors of Kinnevik
Over the past 16 years, 719 investors have co-invested in Kinnevik's portfolio companies. This includes funds and angels.
- Invested before Kinnevik: J P Morgan, Creandum and 383 others have invested in rounds before Kinnevik. There are 4 companies where J P Morgan has invested before Kinnevik and 4 companies where Creandum has invested before Kinnevik.
- Top Co-investors of Kinnevik: 153 investors entered a company along with Kinnevik. These include investors like Rocket Internet (7 companies).
- Invested after Kinnevik: A total of 181 investors have invested in Kinnevik's portfolio after their investments. Top Investors include Access Industries (4 companies), Tiger Global Management (4 companies) and Naspers (2 companies).
Recent News related to Kinnevik
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Anterior Integrates Clinical AI into HealthEdge GuidingCare for Utilization ManagementHIT Consultant•Mar 03, 2026•Anterior, HealthEdge, Sequoia Capital, Kinnevik
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Anterior Completes $40M Funding RoundMassinvestor•Feb 13, 2026•Anterior, Sequoia Capital, New Enterprise Associates, Kinnevik and 2 others
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Mews Secures $300 Million Investment to Cement Position as World's Leading Hospitality Operating SystemPR Newswire•Jan 22, 2026•Atomico, EQT, Mews, HarbourVest Partners and 5 others
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Encube raises USD $23 million to boost AI for hardware makersIT Brief UK•Nov 18, 2025•Kinnevik, Promus Ventures, Encube Ethicals
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Encube Technologies Launches with $23M Funding to Rethink Hardware DevelopmentSiliconAngle•Oct 16, 2025•Encube, Kinnevik, Promus Ventures, ACC InVenture Prize and 3 others
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Enveda Secures $150M Series D Funding, Achieving Unicorn Status and Appointing Mikael Dolsten to the Board.intelligence360•Sep 19, 2025•Premji Invest, Enveda, Baillie Gifford, Kinnevik
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Nory Hospitality AI platform secures $37 million to transform restaurant operations.Bdaily•Sep 16, 2025•Nory, Kinnevik, Accel, Nory and 1 other
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London-based Nory secures €31M to transform restaurant operations with AIEU-Startups•Sep 16, 2025•Nory, Kinnevik, Accel, Nory
