About Kinnevik
Kinnevik is a venture capital firm founded in 1936. It is primarily based out of Stockholm, Sweden. As of Feb 2026, Kinnevik is an active investor, having invested in 84 companies, with 6 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 B round of Anterior Overall, Kinnevik portfolio has seen 15 unicorns, 12 IPOs and 16 acquisitions including key companies like Lazada, HelloFresh 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 34 people including 4 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Series B, Series A & 7 more
Portfolio IPOs
Portfolio Soonicorns
Kinnevik's List of Top Investments
Kinnevik has a portfolio of 84 companies, including 15 unicorns. Their most notable investments are in Sure and Pelago.Their portfolio spans across United States, United Kingdom, Germany and 16 more locations. They have invested in Enterprise Applications, Consumer, HealthTech and 21 other sectors, across stages such as Series B, Series A and 7 more. Here is the list of top investments by Kinnevik:
1. 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
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: €1.28B as on Dec 31, 2018
- Stage: Public
- Total Funding till date: $367M
- Employee Count: 17,047 as on Mar 31, 2026
- Investors: Baillie Gifford, Kinnevik and 16 Others
- Latest Funding Round: Post IPO, Aug 05, 2019, $*****
- Highlight: Public
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. 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
5. Zalando
Online retailer of apparel, shoes, and fashion accessories for consumers. It provides a selection of clothing, footwear, and related items. The business caters to individuals seeking various styles and trends. It offers products through its online platform.
Key facts about Zalando
- Founded Year: 2008
- Location: Berlin (Germany)
- Stage: Public
- Total Funding till date: $191M
- Employee Count: 12,403 as on Mar 31, 2026
- Investors: Access Industries, USM and 23 Others
- Latest Funding Round: Grant (prize money), Mar 13, 2023, $*****
- Highlight: Public
Kinnevik's Year-on-Year Investment Trends
Kinnevik has invested in 85 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 Feb 2026, it has made 3 investments in this year. Its most recent first time investment was in Anterior and most recent follow-on round was in Mews.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 2 | 1 | 3 |
2025 | 5 | 5 | 10 |
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 | 10 | 1 | 11 |
2017 | 0 | 4 | 4 |
Kinnevik's Investments by Stage
Kinnevik has made 23 investments in Series B stage with an average round size of $59.2M, 20 investments in Series A stage with an average round size of $18.1M and 15 investments in Series C stage with an average round size of $97.6M.Stage of entry | No. of Investments |
|---|---|
Series B | 23 |
Series A | 20 |
Series C | 15 |
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 74 Tech companies, 58 Consumer (B2C) companies, 35 Software companies and at least 34 companies focusing on Enterprise (B2B).Sector | No. of Investments |
|---|---|
Consumer | 35 |
Enterprise Applications | 23 |
Retail | 18 |
HealthTech | 15 |
FinTech | 13 |
Others | 81 |
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 United Kingdom where it has made 10 investments.Country | No. of Investments |
|---|---|
United States | 23 |
United Kingdom | 10 |
Germany | 9 |
Denmark | 6 |
Sweden | 6 |
Others | 23 |
Note: We have considered here, only first round of investments
Kinnevik's recent investments
Kinnevik has made 3 investments in 2026 so far. Anterior and Oviva are the latest among them.Here are the most recent investments by Kinnevik:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Feb 12, 2026 | United States | Series B | 1786 | [+2] | |
Jan 22, 2026 | United Kingdom | Series D | 8235 | ||
Jan 22, 2026 | United Kingdom | Series D | 6007 | [+4] | |
Oct 16, 2025 | Sweden | Series B | 5515 | [+1] | |
Sep 16, 2025 | Ireland | Series B | 8788 |
Unicorns in Kinnevik's Portfolio
Kinnevik has 15 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 |
|---|---|---|---|---|---|---|---|
63 | AI-based platform to decipher the chemistry of nature and develop new medicines | 2019 | Boulder | Series D | bt{xnxj | ||
70 | Developer of cloud software for managing hotel operations and payments | 2012 | London | Series D | {thauzo | ||
69 | Provider of employee health benefits solutions | 2018 | San Francisco | Series D | zyrtwnp | ||
77 | Provider of AI powered platform for managing business travel, expenses, and invoices | 2012 | Austin | Series E | alkenek | ||
79 | Provider of an AI-powered platform connecting companies with frontline workers | 2008 | Madrid | Series F | nm{jbqd |
IPOs and Publicly Listed companies in Kinnevik's Portfolio
12 of Kinnevik's portfolio companies have become public. Babylon got listed on the New York Stock Exchange (NYSE), in Oct 2021 at marketcap of undefined and Recursion Pharmaceuticals got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ) at marketcap of $2.92B.Here are Kinnevik's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Oct 22, 2021 | Jan 13, 2016 | Series A | 3333 | |
Apr 16, 2021 | Oct 25, 2022 | Post IPO | 8035 | |
Feb 05, 2021 | Apr 30, 2013 | PE | 8306 | |
Nov 09, 2020 | - | - | 4038 | |
Jul 05, 2019 | Dec 10, 2012 | Series C | 3276 |
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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 30, 2026 | Oct 04, 2023 | Series C | 9967 | |
Mar 23, 2026 | Apr 2013 | Series A | 8783 | |
Oct 10, 2024 | Sep 06, 2018 | Series B | 4336 | |
Oct 25, 2023 | Mar 01, 2013 | Series A | 9708 | |
Oct 14, 2022 | Nov 16, 2010 | Series A | 6025 |
Team profile of Kinnevik
Kinnevik has a team of 34 members including 4 Partners and 2 Principals located in Sweden, United Kingdom and 1 more location. Kinnevik's team does not sit on the board of any company as of now.Here is a list of top team members in Kinnevik:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Stockholm | - | - | |
Partner | Stockholm | - | - | |
Partner | United Kingdom | - | ||
Partner | Amsterdam | - | ||
Principal | Stockholm | - | ||
Principal | Stockholm | - |
Co-investors of Kinnevik
Over the past 16 years, 701 investors have co-invested in Kinnevik's portfolio companies. This includes funds and angels.
- Invested before Kinnevik: J P Morgan, Menlo Ventures and 373 others have invested in rounds before Kinnevik. There are 4 companies where J P Morgan has invested before Kinnevik and 4 companies where Menlo Ventures has invested before Kinnevik.
- Top Co-investors of Kinnevik: 156 investors entered a company along with Kinnevik. These include investors like Rocket Internet (7 companies).
- Invested after Kinnevik: A total of 170 investors have invested in Kinnevik's portfolio after their investments. Top Investors include Access Industries (4 companies), Tiger Global Management (4 companies) and Rocket Internet (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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Nory Hospitality AI platform secures $37 million to transform restaurant operations.Bdaily•Sep 16, 2025•Nory, Kinnevik, Accel, Nory AI 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 AI
