Kinnevik

Introducing The Long View by Kinnevik.   We are excited to announce the launch of our quarterly newsletter, designed to keep you updated with the latest insights from the Kinnevik sphere. In the first edition, we’ll take a deep dive into one of our portfolio companies Mews with an interview featuring its founder and CEO. We’ll also share key updates from Spring Health and Recursion, as well as give you a glimpse of where the team will be in the next quarter.   The first issue drops next week. Sign up here: https://lnkd.in/d3TtCKdG

We are delighted to double down on our investment in Aira alongside other existing investors Temasek and Altor Equity Partners in a EUR 63m round! Aira is a catalyst for clean energy solutions, starting with a state-of-the-art heat pump. We first invested in 2023 and have seen remarkable progress from Martin Lewerth and team since. They have: 👉 Established a leading fully vertically integrated clean energy-tech platform with annual revenue run rate of EUR 100m 👉 Set up a leading position in Germany, Italy and the UK, by acquiring three local heat pump installer businesses and opening 11 regional sales and installation hubs with plans to expand further 👉 Launched the Aira Heat Pump and clean energy tariffs in partnership with Octopus Energy Linked in the comments is our latest article from the Aira deal team (Tatiana Shalalvand, Charles Martin and Anna Adlarson) explaining more about why we invested in Aira, the platform accelerating the electrification of residential heating.

Want to be our next CFO trainee starting in July 2025? Applications are closing on 27th October. In this role, you will have the opportunity to work with our CFO Samuel Sjöström and the wider Strategy & Finance team (👋 Greta Grunewald, Axel Markstedt). For more information on the role and how to apply, check the link in the comments section below. Feel free to reach out to our current CFO trainee, Filippa Lambert, if you have any questions. Good luck!

Today, we published our results for Q3 2024. CEO Georgi Ganev commented: “After seven years, the transformation to growth is complete. We enter the next phase of Kinnevik with a strong financial position, and with a growth-focused portfolio consisting of a high-performing core and several exciting earlier stage companies with the potential to create significant outcomes. During the quarter, we continued to execute on our strategic priorities, investing more capital into our core company Spring Health and our newer venture Aira. Valuations in the core companies grew on the back of strong growth and improving margins, but a full write-down of our remaining VillageMD investment and the weaker dollar weighed on our Net Asset Value.” Cc. Samuel Sjöström Torun Litzen

Our Venture and Growth Investor Ala Alenazi was hosted by the Lord Mayor of the City of London last week to discuss the future of quantum and AI... And in particular, how quantum modelling can help transform the way we approach health. Check out her highlights below ⬇️

Congratulations to our portfolio company Recursion who have secured IND clearance to begin Phase 1 clinical studies: REC-1245 targets RBM39 for the treatment of solid tumours and lymphoma. This is Recursion's first asset to be discovered using their proprietary AI-enabled maps of biology (their first AI-native drug). The process from target identification to IND studies was done in breakneck speed - under 18 months - which is twice as quick as the industry. We are excited about Recursion's pipeline and platform, recently strengthened by its acquisition of Exscientia and look forward to them delivering safer drugs faster and at scale. CNBC wrote about this new development (linked in the comments below). Chris Gibson, Christian Scherrer, Ala Alenazi

Applications for our new LUMA trainee will close on Sunday 13th October. This person will start in July 2025 and work with us for a year. Don't miss out on the opportunity to work closely with our CEO Georgi Ganev and the rest of the team on a full suite of projects with Kinnevik. Feel free to reach out to Amanda Hillström, our amazing current LUMA, if you have any questions 😍 For more info and to apply, please check out the link in the comments section below.

The Kinnevik story began in 1936 in the iron, paper and woodwork industries, moving to telecoms in the 1980s and investing in novel technologies today in sectors such as climate, healthcare and software. During these evolutions, we have always kept a consistent mantra which Anna Adlarson explores in her recent piece, 'The Kinnevik Way'. We profiled this article in our new quarterly newsletter, the Long View, which dropped today. Link to subscribe in the comments below. https://lnkd.in/eKe2FkQ7

Our portfolio company, Mews, recently raised an additional $100 million debt facility from Vista Partners. This comes after a $110 million round in March, when it achieved unicorn status ⭐ Mews is revolutionizing the hospitality industry through its management cloud platform, enabling hoteliers to enhance their performance, maximize revenue and deliver exceptional guest experiences. 📚 You can read a full interview with founder Richard Valtr and CEO Matthijs Welle in our newly launched newsletter, the Long View, dropping on Thursday. To be the first to access the issue, sign up via the link below. https://lnkd.in/d3TtCKdG

Natalie Hugh Tydeman and Sam Marsden are currently at Climate Week NYC, the largest annual climate event of its kind, bringing together over 600 events and activities across New York. It's a major platform for leaders from business, technology, politics, academia and civil society to engage in initatives aimed at accelerating climate action. Are you at Climate Week? Get in touch with Sam should you want to meet. #climateweeknyc