Tioex is first Swedish investment company to buy secondaries in Northvolt

Stockholm, June 20th, 2024 – today Tioex, a leading Swedish investment company, announces that it has successfully acquired existing shares for 5 million SEK in the Swedish battery manufacturer Northvolt.
The investment platform Tioex, which aims to lower the threshold for smaller investors to invest in prominent growth companies in Sweden and the US, has previously invested in private tech companies such as Klarna, SpaceX, Anthropic, Einride, Instabee, and Exeger.

“Since its inception, Northvolt has been one of the most sought after Swedish unlisted companies along with Klarna and Einride. We have been looking to acquire existing shares in the company for a long time, but there has not been an opening until now,” says Johan Hägglund, CEO and founder of Tioex.

Northvolt was founded in 2016 and is currently valued at more than €11 billion with factories and development offices in Skellefteå, Västerås and Gdansk in Poland. The company is also planning for more facilities in Quebec, Canada, Heide in Germany and Borlänge and Gothenburg in Sweden.

“Today, Northvolt is Sweden's highest valued private company with well-known investors and has the potential to become the next generation's people ́s share. Historically, it has been almost impossible to buy into the company. We ́re therefore particularly proud to be one of the first investors to land existing shares in the company and to be able to offer our members the opportunity to be part of Northvolt's continued journey," continues Johan Hägglund.

In January, Tioex was one of the first European investors to buy into the pioneering aerospace manufacturer and space transportation company SpaceX, establishing a presence in the US market. Going forward, Tioex aims to enter more private US companies but also open up investment opportunities in more markets.

"We are now in dialogue with a number of interesting new investments, while our model for investing in unlisted top growth companies is becoming increasingly popular in Sweden and beyond," says Johan Hägglund.