Investment AB Spiltan

What Investment AB Spiltan does

Investment AB Spiltan (publ), operating as Spiltan Invest, is a Stockholm-based, publicly listed Swedish investment company incorporated in 1986 as an equity savings club by friends who studied industrial economics at Linköping University. The firm applies a long-term, no-exit investment philosophy inspired by Warren Buffett, since CEO Per H Börjesson began working full-time in 1997. Spiltan Invest trades on the NGM Main Regulated Equity market under ticker SPLTN (ISIN SE0013382546) and serves roughly 20,000-21,000 individual and institutional shareholders.

The core business is direct minority equity investment combined with active ownership — board participation, strategic guidance, and follow-on capital for serial acquirers — rather than traditional fund management. The portfolio covers ~30 unlisted Swedish growth companies and several listed holdings spanning technology, finance, real estate, and industry. Two positions, Paradox Interactive (video games) and wholly-owned fund manager Spiltan Fonder, together account for approximately 50% of total portfolio value, indicating a deliberately concentrated approach. Other notable holdings include KlaraBo, Bonäsudden Holding, P&E Fastigheter, Wilzéns Fastighetsförvaltning, Collaboration Art, Flattered, Hejmo, and film production company Nordsvensk Filmunderhållning.

Spiltan generates economic value through portfolio appreciation, dividends from portfolio companies such as Paradox Interactive's 5 SEK/share payout, and realized gains on exits (e.g., the 2026 sale of Carbomax to Traxys Group for ~SEK 170 million at ~12% IRR). Investor relations run through the spiltan.se website, mandatory NGM Main Regulated disclosures, YouTube livestream results presentations, an annual shareholder meeting, and a Dutch-auction-style share buyback managed via Danske Bank. Operating with 16-18 employees, a 99% equity ratio, and no fund redemption pressure, the company functions as a permanent-capital vehicle differentiated from closed-end venture or buyout funds.

Name

Investment AB Spiltan

Legal name

Investment Aktiebolaget Spiltan

Website

http://www.spiltan.se

Company type

Public

Founded year

1986

Operating status

Operating

Headcount range

1–10 employees

Short description

Investment AB Spiltan is a publicly listed Swedish investment company that acquires long-term minority stakes in Swedish growth companies across technology, finance, real estate, and industry, applying a Buffett-inspired permanent-capital approach for its roughly 20,000 shareholders.

Ownership category

akta.pro rank

Headquarters

HQ city

Stockholm

HQ country

Sweden

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Investment Returns and Portfolio Company Performance: Spiltan Invest generates returns through appreciation in value of portfolio company holdings, dividends received from portfolio companies, and realized gains upon exit of investments. The company has historically held investments long-term without a stated exit strategy.
2. Dividend Income: Regular dividends from portfolio companies contribute to investment returns. Notable dividend income includes Paradox Interactive's dividend of 5 SEK per share, representing 4% dividend yield at certain valuations.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels5 records

Core offering

Investment AB Spiltan is a publicly listed Swedish investment company that acquires and holds minority stakes in listed and unlisted Swedish growth companies across technology, finance, real estate, and industry sectors. The company applies a long-term ownership philosophy inspired by Warren Buffett, without a stated exit strategy, and provides active ownership support, board participation, and capital to portfolio companies. The company is listed on NGM Main Regulated under ticker SPLTN with a portfolio valued at approximately SEK 8.5–9 billion.

Product overview

Spiltan Invest operates as a single unified investment company, not a modular platform. The company primarily invests in minority stakes in Swedish growth companies across four sectors: technology, finance, real estate, and industry. Key portfolio holdings include Paradox Interactive (gaming), Spiltan Fonder (fund management), KlaraBo (real estate), and various unlisted companies. The investment strategy focuses on long-term ownership without a stated exit strategy, with the portfolio historically concentrated in Paradox Interactive and Spiltan Fonder which together represent approximately 50% of the total portfolio. The company also maintains stakes through serial acquirers and has several residential and community real estate companies in its portfolio.

Differentiator

Problem solved

Functional benefit

Brands

• Spiltan Fonder: Fund management company owned by Spiltan Invest, managing investment funds including Spiltan Aktiefond Investmentbolag, Spiltan Globalfond Investmentbolag, and Spiltan Europafond Investmentbolag.
• Sparklubben

Products and services

• Spiltan Invest Spiltan Invest is Investment AB Spiltan's core listed investment vehicle that acquires and holds minority stakes in listed and unlisted Swedish growth companies across technology, finance, real estate, and industry sectors. It follows a long-term ownership philosophy inspired by Warren Buffett, with no stated exit strategy, and is targeted at public shareholders buying SPLTN shares on NGM Main Regulated.
• Spiltan Fonder (Fund Management) Spiltan Fonder is Spiltan Invest's wholly-owned fund management subsidiary managing investment funds for external investors, including Spiltan Aktiefond Investmentbolag, Spiltan Globalfond Investmentbolag, and the recently launched Spiltan Europafond Investmentbolag, which invests in leading European investment companies and conglomerates. It represents approximately 25% of Spiltan Invest's total portfolio value.
• Sparklubben (Savings Club)

Quantifiable outcome

• Portfolio grew from SEK 200,000 in 1986 to SEK 8.5+ billion in 2026
• +3 more outcomes

Named customers8 records

Segments3 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Spiltan Fonder (Subsidiary)coreStrategic or Co-development Partner · 6 May 2026Spiltan Fonder is a wholly-owned subsidiary managing investor funds. Launched Spiltan Europafond Investmentbolag focusing on European investment companies and conglomerates, building on methodology from Spiltan Aktiefond Investmentbolag and Spiltan Globalfond Investmentbolag.

Scale indicators10 records

Recent moves8 records

Expansion highlights6 records

Broad incumbents

• Investor AB: The flagship Wallenberg-controlled Swedish listed investment company with ~SEK 800B+ in NAV — operates the same long-term, permanent-capital investment model as Spiltan but at vastly larger scale and broader international reach.
• Investment AB Latour: Swedish listed investment holding company with a long-term approach to industrial holdings — comparable permanent-capital structure and family-controlled governance, but focused on long-established industrial businesses rather than Swedish entrepreneurs/growth.
• Industrivärden AB: Swedish listed investment holding company — comparable permanent-capital structure and listed on Nasdaq Stockholm — but focused on industrial, large-cap Swedish operating companies rather than Spiltan's growth-company mix.
• Kinnevik AB: Swedish listed investment company with a long history of growth-stage investing — overlapping investment philosophy and Swedish/European growth focus, but with much larger AUM and stronger tilt to consumer/tech growth themes.

Direct peers

• Svolder AB: Swedish listed investment company that holds a concentrated, long-term portfolio of listed Swedish equities — very similar permanent-capital, minority-stake model to Spiltan, though with a public-equity focus rather than mixed listed/unlisted.
• Investment AB Chiffonjén: Swedish listed investment company investing long-term in unlisted and listed growth companies — nearly identical structure, philosophy, and geography to Spiltan. Notably, Chiffonjén's CEO Magnus Trast serves on Spiltan's board, reflecting the close fit.
• AB Traction: Classic Swedish small-cap listed investment company with a long history of minority-stake investing in Swedish growth companies — very similar concentrated, long-hold philosophy and target company profile to Spiltan.
• Bure Equity AB: Swedish listed investment company that invests in growth companies, primarily in Nordic life science, technology, and industrial sectors — comparable long-term, active-ownership approach with a private-equity tilt.
• VNV Global AB: Swedish-listed investment company investing in growth-stage private and public companies, with exposure to emerging-market tech founders — comparable permanent-capital structure and active-ownership approach.
• Ratos AB: Swedish listed investment company that acquires majority or significant minority stakes in Nordic growth companies — overlap in target geographies and growth-stage companies, though Ratos tends to take larger controlling stakes than Spiltan.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/spiltan
• Facebookfacebook.com/spiltan

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

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

M&A1 record

Investments23 records

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

Frequently asked questions about Investment AB Spiltan