Kinnevik Results Presentation Deck
OUR FINANCIAL POSITION ALLOWS US TO MAINTAIN OUR INVESTMENT MOMENTUM,
AND WE AIM TO ALLOCATE CAPITAL IN A DISCIPLINED BUT FLEXIBLE FASHION
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We held a SEK 13.6bn net cash position at quarter-end,
and expect to invest in the region of SEK 5bn during 2022
We expect these SEK 5bn to be split fairly evenly between
new investments and follow-on investments
Year to date, we have invested SEK 2.1bn, split 1.3bn into
new investments and 0.8bn into follow-ons
In addition to our own net cash position, our pro rata share
of net cash in our investees exceeds SEK 2bn
We estimate that investees corresponding to almost 50% of
fair value have cash runway extending into 2024, with only
around 9% having runway that ends during 2022
On a value-weighted basis, our investees have around 18-
24 months cash runway
At a sustained SEK 5bn p.a. investment momentum,
Kinnevik has net cash runway well into 2024 even without
any material capital inflows
Our financial strength also provides us with flexibility to
time our capital deployment in an attractive way in the
current environment
Capital Reallocation
Overview
Investee Cash Runway
Indicative, % of Fair Value
9%
<6 Months
6-12 Months
35%
12-18 Months
8%
48%
>18 Months or Profitable
12.5
10.0
7.5
5.0
2.5
Rolling LTM Investments & Divestments
Since Q4 2018, SEKbn
Q4 2018
Rolling LTM Investments Rolling LTM Divestments
Our financial strength provides us with the ability to exploit a depressed valuation environment
We intend to combine flexibility with discipline as we maintain our investment momentum
Q2 2022
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