* To invest 2-3 bln SEK in 2014
* Mainly in online and financial services
* Net asset value rises 16 pct to 66.2 bln SEK ($10 bln)
* Says a "long-term approach" needed for Zalando
(Adds quote, details)
By Mia Shanley and Helena Soderpalm
STOCKHOLM, April 28 Swedish investment firm
Kinnevik, a major investor in the telecoms sector and
internet start-ups, plans to spend 2 to 3 billion crowns
($303-455 million) on new investments this year, mainly in
online and financial services.
The company, which has a major stake in Europe's biggest
online fashion firm Zalando, has already spent 469 million
crowns in the first quarter, the bulk of which went into
e-commerce and businesses such as India's leading online
classified site Quikr. It spent 2.4 billion crowns in 2013.
Kinnevik, which has recently focused on young, high-growth
online ventures, said earlier this month it had picked former
Goldman Sachs banker Lorenzo Grabau as chief executive as it
deepens its push into technology.
Its outgoing CEO, Mia Brunell Livfors, said she expected
Kinnevik would continue to operate a mix of assets.
Mobile communication holdings such as Millicom
and Tele2 make up 56 percent of the group's overall
portfolio followed by internet investments at 32 percent.
Shares in Kinnevik, up nearly 40 percent from a year ago,
have tumbled more than 20 percent since the start of the year
due to worries over its large exposure to Russia and slowing
sales at Zalando, in which it has a 37 percent stake.
The German company, which competes with Britain's ASOS
, has been viewed by bankers as a possible IPO
Investors have, however, focused more recently on slower
growth in first-time visits to its website as it spends less on
marketing and stopped opening in new markets.
Kinnevik said that a "long-term approach" to ownership was
needed to guide a firm such as Zalando as it navigates through a
relatively new and fast-changing industry.
Brunell would not speculate about a potential listing.
"We are mainly focusing on that the company shows good
growth and is on a path to profitability. How it is owned or
listed or not listed is of second importance," she told Reuters.
Kinnevik's first-quarter net asset value rose 16 percent to
66.2 billion crowns ($10 billion) from a year ago, with a sharp
increase in smartphone use boosting both its old and new
Zalando has in the past provided an overview of its
performance on the same day as Kinnevik earnings but this time
will publish first-quarter results on May 9.
Brunell said Kinnevik had a number of assets in Russia and
had been affected by a weakened rouble. Still, a focus on
consumer services and domestic customers in Russia meant there
had not been any major impact on business.
Founded in 1936, Kinnevik is one of the largest listed
investment companies in Europe, having transformed itself from
an industrial concern into a telecoms and media group and in
recent years expanded into online services.
It is controlled by Sweden's wealthy Stenbeck family.
($1 = 6.5898 Swedish Crowns)
(Editing by Mark Potter)