Success Stories

We manage a unique set of digital investments from early stage to established companies. Here are just three. One is a relatively new investment, one is a divestment and one is a company we have been building for 25 years.



Founded in 2008, Zalando is a leading online fashion platform, bringing more and better choice to fashion conscious customers around Europe. Based in Berlin, the company maintains a cross-platform online store offering clothing, shoes and accessories for women, men and children. It stocks more than 1,500 global and local brands as well as private labels. Kinnevik's investment expertise has helped Zalando build an online presence in 15 European markets and a service tailored to country-specific customer preferences.


In 2011, Kinnevik partnered with three tech entrepreneurs to found, seed and build Avito, which soon became Russia's largest classified advertising site. Following merger with Naspers controlled competitor Slando/OLX, Avito emerged as a global leader in classifieds, achieving growth and strong profitability, through vertical leadership and product innovation – as the move was being made to mobile. The result? Upon exit in 2015, the sale proceeds represented 16.2x Kinnevik's invested capital and an IRR of 77%.


In 1990, Kinnevik founded Millicom International Cellular S.A. Today, as a result of our attentive and active investment approach, Millicom's range of mobile services, cable TV and broadband is available in 13 markets in Africa and Latin America. Millicom is connecting people for the first time to the internet and making The Digital Lifestyle a reality for more than 62 million people. We have grown revenues from USD 666m in 2004 to USD 6.7bn in 2015.