Swedish investment firm Kinnevik reported a 2% rise in its third-quarter net asset value to 37.5 billion Swedish kronor, driven by growth in its private portfolio of technology companies.
The company said the increase was led by solid operational performance and a transaction-led revaluation of AI-powered drug discovery platform Enveda, which offset market headwinds.
"Our portfolio continues to mature, and our companies are successfully balancing growth with control over margins," CEO Georgi Ganev said in a statement.
During the quarter, Kinnevik invested a total of 1.015 billion Swedish kronor.
Key investments included participating in a 150 million U.S. dollar funding round for Enveda and a 150 million euro round for clean energy-tech company Aira.
The firm also led a 37 million U.S. dollar funding round in Nory, an AI-based operating system for restaurants.
Kinnevik's private portfolio value grew 3% in the quarter, according to the company.
The investment firm ended the period with a net cash position of 8.6 billion Swedish kronor.