Keiretsu Forum Global

Apply for capital Become a member

Amid these dire times, we couldn’t be happier to see how our KFN portfolio company Adventure Box goes against the dreary trend in the stock markets.

The company’s stock price is up 113% since the start of 2020!

When people across the world choose to stay at home because of the COVID-19 pandemic, the demand for online games increases sharply. Adventure BoxTechnology AB – listed on Nasdaq First North – sees a strong increase in interest in the company’s solution for streamed games.

From January to February, Adventure Box-visitors increased by 24% to 1,017,457. At the same time, the number of returning visitors increased by 19% to 233,404.
The customer acquisition cost has been reduced by more than 30%.

Congrats to the Adventure Box team!

(Graph: Affärsvärlden)

We are delighted to have Aspia as our new network partner! The company offers a host of services for all stages of an enterprise.

For entrepreneurs who want to expand and improve their business, or recently have started a new business, Aspia offers a wide range of services so they can stay focused on what they do best – and do it even better.
1450 specialists throughout the country are working in teams to supply the experiences and services that are needed. Aspia also has offices in Finland, Norway, and Denmark.
Following is a short presentation from Aspia about the expertise areas they can offer to you:


We assist with day-to-day bookkeeping, financial statements, invoice management and reporting with access to experienced business advisors as well as tools that can be used to modernize and streamline the accounting department. If the expertise of an experienced financial consultant temporarily is needed, we can help with that as well.

Business Advice

We evaluate investments, assist with succession transfers, acquisitions and make sure that the winding-up process runs smoothly. If a business advisor is needed, we are standing by to discuss ideas and give concrete advice for running and developing the business – no matter what the goals are.

Tax Advice

We possess the skill and expertise to deal with tax issues of all kinds and will provide clear, specific advice, whatever the question is. We are members of TAXAND, the premier international network of independent tax advisers.


We offer payroll services and system support for travel expenses, timesheet reporting, and staffing planning, no matter whether the operations are located in Sweden or another Nordic country. Our experts can also advise on a wide range of HR-related issues.

Welcome to the KFN network Aspia!

We are happy to introduce you to our new network partner Kaptena!
Some of you might already have met Robert Persson from Kaptena at the recent Forum meetings and have had a chance to talk to him about the brilliant solution that Kaptena offers investors in early-stage and unlisted ventures.

Kaptena has developed a new Swedish ownership form for unlisted unqualified shares and securities. The ownership form is similar to an ISK, but basically, it is a Swedish capital insurance.

The ownership form means that profits, dividends and interest income are protected from 30 percent capital gains tax. Instead, a low annual tax is paid on the value of the shares. The tax is called a yield tax. This year it amounts to about 0,4 percent.

Now those who own unlisted shares and securities can choose whether they want to pay capital gains tax or yield tax. Previously, the benefits have only been available to those who invest in listed shares and securities.

The valuation takes place at least 4 times a year, every quarter.

Click this link to see more examples of situations when Kaptena is a great solution for your investment!

The keynote presentation at the yearly Investor Capital Expo in January by space tech entrepreneurs Tom and Tina Sjögren, the founders of PythomSpace, has resulted in the formation of Nordic investors in PythomSpace through the Special Purpose investing Vehicle Space Cowboys AB.

In the picture, we see the lead investor of Space Cowboys, Ted Elvhage with the founders Tina and Tom Sjögren, and also the Swedish physicist and astronaut Christer Fuglesang and his wife Elisabeth Fuglesang who have joined PythomSpace to help the space tech venture succeed, deepen its network and relationships with the European space industry.

Space Cowboys was formed to facilitate early-stage investors to pull together and co-invest in PythomSpace seed round of $500k to support manufacturing and hot tests of the Pythom rocket engine and propulsion system. With a Nordic base of investors, PythomSpace now also has access to the relevant Nordic and European Space Industry. Discussions with the industry have already been initiated.

“The Asterex rocket engine and unique high-pressure propulsion system are far along the design cycle,” commented Tom Sjögren, PythomSpace CTO. “We expect to finish our CDR (critical design review) and initiate a test program in California before summer.”

“This is a great validation of the Pythom business model,” said Tina Sjögren, PythomSpace CEO. “It provides cash flow supporting technical development in the next 12-18 months.”
“Our great team of investors is further taking an active role to prepare for an A-round late 2020, in support of the Pythom Eigar launch vehicle.”

PythomSpace is based in Sierra Nevada, California.

“We are very impressed by the way the PythomSpace team creates results and move forward in the project, resulting in innovative new technologies. It is truly an honor to be a backer of PythomSpace and the team behind it,” says Ted Elvhage.

Space Cowboys are still looking for co-investors to their legendary team, so if you are interested to join the adventure, please contact

The third Investor Capital Expo, which took place on January 23rd, was a smashing success! With 200 attendees – the largest number of attendees since the launching of this annual event – interacting with brilliant entrepreneurs from 12 ventures, we are happy to say that the outcome is already looking promising!
The theme of the day was The Future and the guests were given a vision of what to be expected 30 years from now.

Fabulous keynote speakers Tina and Tom Sjögren held the audience spellbound when sharing their unimaginable adventures trying to reach the Poles, and just as fascinating was their report on how soon there will actually be technology available to take us on space trips.

The incomparable innovation strategist and keynote speaker Donnie SC Lygonis gave us his clear-sighted ideas of the future – as well as some really good laughs!

The day was rounded up by a panel discussion moderated by our CEO Anette Nordvall and included several of the topics concerning our future; such as health, food, space and legal services. It was an inspiring talk of how important it is that we – in all possible ways – support sustainable innovations.

We are already looking forward to next years Investor Capital Expo! And as much as we can reveal right now; it will add even more substance for groundbreaking investment ideas.

Expo 2018

Thanks to all who participated in our first Investor Capital Expo in Stockholm! You helped make this a great success and a new landmark for Cross-Border Investing, Growth, Knowledge sharing and Partnering for Innovation and Success. We are already planning for next years event! Please save the date for January 17th,


Email: Address: Tomtebogatan 37 Zip code: Stockholm 113 38   Anette Nordvall CEO & chapter president +46 76 190 50 55 LinkedIn Ted Elvhage Chairman +46 70 556 08 08 LinkedIn Disa Öhlander Member & Partner Director +46 70 726 81 64 LinkedIn Emma Syring Entrepreneur Director +46 70


Our Partners are essential for us and we can proudly present the following partners within different areas of competence and deliverables to support our members and ventures in the best possible way. We are constantly looking for additional competence to our partner network, so please feel free to contact Disa

For Ventures

Investment Criteria Keiretsu members understand that searching for funding can be a daunting process, even to the most experienced entrepreneur. The investors attending our meeting bring expertise from a large number of sectors and therefore, we invite entrepreneurs from diverse industries to present at our meetings. Keiretsu Forum members invest in