From zero to eight companies.
In under five years.

PVW Capital AB is an industrial investment and holding company. The company conducts long-term ownership, investments and active capital allocation with the objective of building a diversified portfolio of companies, financial assets and real assets — acting as a long-term owner and shareholder, without a predetermined term or any obligation to repay invested capital on demand. The ambition and objective is a stock-market listing (IPO) of PVW Capital AB within three years. We are now broadening the shareholder base with carefully selected partners who can contribute strategic value and networks.

You subscribe for B-shares in PVW Capital AB, the active ownership platform that holds the portfolio. You become a shareholder in the whole portfolio and in the platform that keeps building it.

SEK 154m pre-money, equivalent to €13.75 million at the fixed rate of SEK 11.2/EUR. The valuation is anchored in PVW's ownership-adjusted reference value of approximately SEK 154m.

Your capital divided by SEK 154m plus your capital. The full €4.0m round (SEK 44.8m) equals 22.54%.

No formal minimum. Admission is by invitation only, subject to board approval, legal documentation and cap table discipline. If you would like to take part, come back with the amount you want to invest and it is applied at exactly the same fixed entry valuation as every other partner. Partners are admitted by invitation only and the register is kept deliberately small.

Decided and fixed: A shares (founder / PVW) carry 10 votes per share and B shares (new shareholders) carry 1 vote per share. Economic rights per share are identical, so your capital buys the same net asset value as anyone else's.

New capital goes first into exercising PVW's verified and/or founder-confirmed ownership opportunities in Wattly, Energy Group and EnergyNet, subject to final legal documentation where applicable — a total exercise cost of SEK 34.5m (€3.08m at the round rate of 11.2); SEK 10.3m of the full SEK 44.8m round remains after the exercises. PVW Capital AB charges shareholders no management fee or performance fee. Normal market-based salaries, consulting fees or operating-company compensation may exist within portfolio companies and will be disclosed where material.

PVW Capital AB is intended to operate as a long-term industrial investment and holding company that invests from its own balance sheet and is an active, long-term owner in its underlying companies. It does not manage capital on behalf of others, has no predetermined term and no obligation to repay capital on demand; new shareholders own shares in the company itself. On that basis the company does not consider itself a licensable business. This assessment is to be confirmed by legal counsel before the round opens.

No. PVW Capital AB charges shareholders no management fee or performance fee. Normal market-based salaries, consulting fees or operating-company compensation may exist within portfolio companies and will be disclosed where material. The founder owns the majority of the company. The founder’s primary economic incentive is aligned with shareholders — long-term value creation in the shares.

Liquidity is provided through a secondary sale, a nominated buyer, or the contractual 36-month put option against the founder (160% of the subscription price).

No. It is a contractual right against the founder under a separate agreement. The economic protection depends on the founder's ability to pay, the realisable value of the collateral and the enforceability of the agreements.

Then the value of the shares may fall, and the value of the collateral may be affected. The put option does not reduce all risks and does not eliminate the risk of capital loss.

Quarterly shareholder reporting with updated NAV per company, method, assumptions, confidence level and valuation date — plus direct access to the founder.

Operating companies on multiples, comparables and DCF. Early-stage positions on the latest external financing. The work is done with external subject-matter experts using recognised valuation methods, including comparable company analysis, transaction references, DCF where relevant, latest financing rounds and management-verified operating data, then verified against company management's own assessments and the most recent share purchases in each company. Every figure carries its method, date and confidence level. Nothing here is a guess — but the figures are not audited.

Patrick Wallén leads use of capital and holds a board seat, or a very close advisory relationship with the board, in every portfolio company. Defined reserved matters still require qualified shareholder approval.

Delayed energy projects, a financing round at a lower valuation or a write-down of the early-stage positions would take NAV below the conservative case. Private holdings are illiquid and a total loss of capital is possible.

One conversation with Patrick, then the subscription documents and the shareholders' agreement. Signing to registered shares typically takes a couple of weeks.