Kinnevik, a Swedish emerging markets investment company, has announced that Lorenzo Grabau, Chief Executive Officer, is leaving the firm with immediate effect. 

The Stockholm-based firm said that a search process for successor now will be undertaken by the Board.

Tom Boardman, Chairman of the Board, said: "Lorenzo Grabau has made a significant contribution to Kinnevik in leadership positions over the past 4 years, the last 2.5 years as CEO."

"He has built a strong team and successfully streamlined and consolidated our portfolio and assets. Kinnevik is now well-positioned to enter the next phase of its strategy of investing in and building leading digital consumer brands,” he said.

Grabau will remain in his positions in the Boards of Directors of Millicom, Qliro Group, Tele2 and Zalando. 

Joakim Andersson has been appointed acting CEO. 

Andersson has been Chief Financial Officer since February 2015. 

He joined Kinnevik in 2001 and has over the last 15 years held a number of positions in the finance organization including Group Treasurer from 2007. 

Founded in 1936 by the Stenbeck, Klingspor and von Horn families, Kinnevik is an active and long-term owner and its investments are made primarily in technology-based services aimed at consumers

Kinnevik' investments in Africa include: Rocket Internet, Konga, Saltside, Millicom, Bayport, Bima and Babylon.