Georgi Ganev's Kinnevik Writes Down $90M in Green Ventures

Kinnevik reported a 4 percent decline in net asset value to 35.9 billion Swedish kronor after Georgi Ganev announced significant write-downs in green technology holdings.The firm reduced valuations for Harald Mix-associated companies Stegra and Aira by a total of 945 million kronor following funding delays and shifting market conditions.While maintaining a cash position of 7.6 billion kronor, the investment company faces pressure as Sophie Stenbeck sold shares following a 12.8 percent decline in stock value this year in USA markets.