Framework and Targets
In May 2019, Kinnevik launched a Diversity & Inclusion Framework to drive the important change we want to see in our portfolio and the broader industry. Kinnevik’s Board of Directors and management have agreed on four overarching targets, signifying Kinnevik’s ambitions and setting the foundation for Kinnevik’s Diversity & Inclusion framework:
- 40/60 Composition in all Kinnevik Teams by 2022 – by end of 2022 Kinnevik shall have a 40/60 composition (at least 40% of the underrepresented gender) in the Management team as well as in the Investment and Corporate teams
- Measure all Managers on Inclusive Leadership – all Kinnevik managers are to be measured on diversity and inclusion, and the results will be linked to their remuneration
- 10% Capital Allocation to Female Founded or Led Companies – on an annual basis from 2019, at least 10% of the capital we invest in new companies should be invested in female founded or led companies. If we do not invest 10% in a given year, the amount will roll over to the next year. To be considered a female founded or led company, the company should have a founder team or management team consisting of at least 50% women
- No Follow-Ons unless Progress on D&I – Kinnevik will only consider making follow-on investments in companies that it believes have made progress in relation to diversity and inclusion
Progress in 2019/2020
We have actively been driving the D&I agenda during the year and are making clear progress in Kinnevik and in our portfolio companies:
- Recruited two new executives to Kinnevik’s management team, Erika Söderberg Johnson as CFO and Anna Stenberg as CPO, taking our management composition to 43% females
- Completed a thorough D&I review of Kinnevik’s organisation including individual interviews, team-wide surveys and unconscious bias training
- Incorporated D&I aspects into all stages of the investment process, from the sourcing and assessment of new business opportunities to the ongoing development of our companies
- Continously worked to diversify and broaden our pipeline of potential investments
- Incorporated the four overarching D&I targets into Kinnevik’s overall corporate objectives for 2020, thereby tying them to the remuneration of our teams
