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  "documentTitle": "Kinnevik | Results Presentation Deck | 16 slides",
  "authorId": "kinnevik",
  "authorName": "Kinnevik",
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  "sourceTypeLabel": "Investor relations",
  "presentationDate": "2023-04-01 00:00:00",
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  "notes": "The slide uses a series of small pie charts to illustrate the composition of follow-on investments.",
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      "kind": "callout",
      "text": "We remain focused on making the most of the current environment through maximizing the impact of our highest-conviction investments and capturing opportunities that arise during a period of more risk-averse sentiment",
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      "text": "Type of Follow-On Investment",
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      "text": "Our 2023 expectations remain unchanged - around SEK 5bn in total investments split 50/50 between new investments and follow-on investments in the existing portfolio. Our assessments of investee runways also remain largely unchanged, with the key development being extensions of runways through funding rounds in the quarter. Around 6% of our private investees by value have runway not lasting longer than to end of 2023 (from 10% in Q4 2022). Of our currently forecasted follow-on investments, around 70% of capital is expected to be deployed into high-conviction businesses where we are either instigating transactions or willingly accreting ownership (as in Spring Health). Two main factors could affect our expectations - 1. an inability to deploy as much capital as we would like into our existing high-conviction businesses 2. not finding enough attractive opportunities to invest in new businesses due to companies not coming to market",
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      "kind": "title",
      "text": "OUR CAPITAL ALLOCATION EXPECTATIONS REMAIN UNCHANGED, WITH KEY ALLOCATION RISKS RELATING TO MISSED UPSIDE OPPORTUNITIES",
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      "kind": "title",
      "text": "Capital Reallocation\n2023 Expectations",
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