Friheden Invest AS

What Friheden Invest AS does

Friheden Invest AS is a privately held Danish family office founded by Niels Martinsen, the founder of IC Group (formerly InWear), which he built into one of Scandinavia's leading fashion houses starting in 1969. Following IC Group's delisting from Nasdaq Copenhagen in 2019, Friheden Invest holds 100% of IC Group A/S and through it wholly owns two fashion brands: Tiger of Sweden (acquired 2003) and By Malene Birger (established 2003). Alongside the operating brand holdings, Friheden Invest has been an active direct investor since 2017 in venture and growth-stage fashion/lifestyle companies, taking concentrated positions in Ron Dorff (bodywear), Rebelle (luxury second-hand marketplace), Homemate (ready-to-cook meal service), ARKK Copenhagen (sneakers), Boozt (Nordic fashion e-commerce, IPO'd 2017 at SEK 3.4B), and Zliide (mobile POS checkout). The entity also manages a diversified portfolio of fund and asset-class investments.

Name

Friheden Invest AS

Legal name

Friheden Invest AS

Website

https://friheden-invest.dk

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

1–10 employees

Short description

Friheden Invest AS is a Danish family office founded by Niels Martinsen that wholly owns two fashion brands (Tiger of Sweden, By Malene Birger) and directly invests at venture and growth stages in fashion and lifestyle companies.

Ownership category

akta.pro rank

Product category

Family Office & Investment Management

NAICS

Portfolio Management and Investment Advice (523940), Offices of Other Holding Companies (551112)

SIC

Investment Advice (6282)

akta.pro primary industry

Family Office Investment Platforms & Direct Investing (PE/VC/Co-Invest) (FSAAADAH)

akta.pro secondary industry

Multi-Sector / Generalist Growth Equity (FSANACAO)

Keywords

• Family office
• Venture capital
• Growth investing
• Fashion investments
• Private equity

Headquarters

HQ city

Copenhagen

HQ country

Denmark

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Others

Revenue model

1. Investment Returns and Portfolio Management: Generates returns through ownership stakes in portfolio companies including Tiger of Sweden, By Malene Birger, and various venture investments in fashion & lifestyle sector companies. Manages portfolio of investments in various funds and asset classes alongside direct company investments.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Friheden Invest AS is a family office founded by Niels Martinsen that wholly owns two Scandinavian fashion brands (Tiger of Sweden and By Malene Birger) through IC Group A/S, which it delisted from Nasdaq Copenhagen in 2019. Alongside these wholly-owned brands, the firm actively invests at venture and growth stages directly into fashion and lifestyle companies, while also managing a portfolio of investments across various funds and asset classes.

Product overview

Friheden Invest AS is a family office that operates as a holding company rather than a product company. Its primary holdings consist of two wholly-owned fashion brands (Tiger of Sweden and By Malene Birger) under IC Group A/S, which it fully acquired and delisted from Nasdaq Copenhagen in 2019. Additionally, Friheden Invest maintains a portfolio of venture and growth-stage direct investments in lifestyle sector companies including Ron Dorff (bodywear), Rebelle (luxury second-hand fashion marketplace), Homemate (ready-to-cook meal service), ARKK Copenhagen (sneaker brand), Boozt (fashion and beauty e-commerce technology), and Zliide (mobile POS checkout technology). The company does not offer a unified product platform; its portfolio brands operate independently with their own digital commerce platforms.

Differentiator

Problem solved

Functional benefit

Products and services

• Tiger of Sweden A Scandinavian fashion brand offering contemporary menswear and womenswear, wholly owned by Friheden Invest through IC Group.
• By Malene Birger A contemporary womenswear fashion brand established in 2003 within the IC Group portfolio, now wholly owned by Friheden Invest.
• Ron Dorff (Direct Investment) Bodywear brand aligning Swedish functionality with French style, sold through five stores in Paris, London and Berlin and online to over 50 countries.
• Rebelle (Direct Investment) Premier European online marketplace for luxury second-hand fashion operating a customer-to-customer marketplace model with no inventory.
• Homemate (Direct Investment) Danish fresh and modern homecooked meal service offering ready-to-cook meals; acquired Maaltidet, one of Denmark's biggest lunch caterers for businesses, in December 2018.
• ARKK Copenhagen (Direct Investment) Nordic sneaker brand established by two Danish co-founders offering minimalist streetwear-style sneakers available in 36 countries.
• Boozt (Direct Investment) Nordic technology company operating a multi-brand webstore for fashion and beauty online; IPO'd on Nasdaq Nordic May 31, 2017 at SEK 3.4B valuation.
• Zliide (Direct Investment)

Quantifiable outcome

• Peak Performance sold for DKK 1.9bn valuation
• +3 more outcomes

Named customers8 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators8 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Mayhoola for Investments: Qatari family-controlled investment fund that has built a portfolio of luxury and fashion houses (Valentino, Balmain, Pal Zileri); directly comparable as a family/founder-led vehicle deploying capital into premium fashion and lifestyle brands.
• Style Capital: Italian private equity firm specializing in fashion and lifestyle brand acquisitions and growth capital; comparable to Friheden Invest's growth and venture mandate in the European fashion ecosystem.
• BESTSELLER Holding: Family-controlled Danish fashion conglomerate operating wholesale and DTC brands (Jack & Jones, Vero Moda); closely related to Heartland and a direct analogue to IC Group's role as a multi-brand Scandinavian fashion platform.
• Heartland A/S: Danish family office of Anders Holch Povlsen (Bestseller/ASOS shareholder) that makes long-term direct investments and owns fashion brands; highly comparable to Friheden Invest in mandate, geography, family-controlled structure, and fashion-sector focus.

Broad incumbents

• PAI Partners: European private equity firm with deep fashion and lifestyle exposure (Bestseller co-investor, Courreges, Bonduelle-adjacent consumer brands); relevant broad PE peer active in similar fashion and consumer categories.
• LVMH: Largest global luxury conglomerate operating 75+ maisons; the ultimate comparator for a multi-brand premium fashion strategy, though vastly larger and publicly listed.
• Puig: Spanish family-controlled fashion and fragrance house (Carolina Herrera, Jean Paul Gaultier); comparable as a privately-held, family-led platform operating premium lifestyle brands globally.
• Kering: French-listed luxury group housing Gucci, Saint Laurent, Balenciaga and other premium fashion brands; analogous multi-brand premium fashion holding structure.
• L Catterton: Global consumer-focused investment firm (LVMH-affiliated) active across fashion, beauty, and lifestyle; broader incumbent with a similar brand-building thesis and direct investments in many of the same categories as Friheden Invest.

Emerging players

• Investcorp: Bahraini-headquartered alternative investment firm with European luxury and consumer brand exposure (including fashion adjacencies); comparable in deploying private capital into premium European lifestyle assets.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Friheden Invest AS