Kold Investments is a specialized public equity investment firm based in Copenhagen, managing a single strategy for a group of long-term partners.
We pursue long-term investments in companies characterized by network effects or scale advantages and led by exceptional people.
The strategy is concentrated, with around 10 companies in the portfolio.
Each investment is underwritten with a six to eight year horizon, aiming for outsized optionality.
Our primary measure of risk, at both the security and portfolio level, is the potential for permanent capital impairment over that horizon, not near-term price volatility.
Prior to founding Kold Investments in 2024, Simon Kold spent a decade at Novo Holdings, investing in both public and private companies.
He is also the author of On the Hunt for Great Companies: An Investor’s Guide to Evaluating Business Quality and Durability published by John Wiley & Sons. Content and interviews related to the book are available here.
To contact Kold Investments, please email info@koldinvestments.dk
This website is for informational purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security. It does not constitute investment advice and does not provide a basis for making an investment decision. By accessing this website and any of its pages, you are agreeing to the terms set out in our website terms of use.
In this policy, “we”, “us”, and “our” refer to Kold Investments. We are the data controller for any personal data processed through cookies used on our website and its subdomains.
This policy applies to you as a user or visitor of our website. For details on how we handle personal information beyond cookies, please review our Privacy Policy.
Cookies are small text files stored on your device when you visit a website. Cookies can be used for different purposes. Some are strictly necessary for the website to function securely. Others are used for preferences, statistics, or marketing.
Strictly Necessary Cookies: We only use cookies that are strictly necessary for the operation and security of the website. In particular, we use a CSRF protection cookie to help prevent unauthorized requests and to secure interactions such as form submissions. These cookies are essential and do not require your consent.
Strictly necessary cookies cannot be disabled through our website. You can configure your browser to block or alert you about cookies. If you block strictly necessary cookies, parts of the website may not work correctly.
We do not use analytics or marketing cookies and therefore do not deploy a cookie consent banner at this time. If we introduce non essential cookies in the future, we will update this policy and, where required, request your consent before placing them
If you have questions about our use of cookies, please email us at info@koldinvestments.dk
This notice is provided for the benefit of natural persons with whom we interact in the course of conducting our business. This includes people who view our website or contact us, investors in funds managed by us, and all other persons with whom we interact in the course of our business (“you”). You may contact Kold Investments if you have any queries about this Notice – please see the contact details below.
Please note that Kold Investments is located within the EEA and as such is subject to the GDPR (as defined below), but if you are not resident in the EEA, there may be other laws in your country that are different. Other laws may use different or additional legal terms, or define the same terms differently. The terms listed below are intended to have the following meanings in this Notice:
The executive management of Kold Investments is a data controller.
We collect your personal data from a variety of sources:
The types of personal data we collect may depend on the nature of your relationship with Kold Investments.
With respect to an inquiry initiated by you, by email, telephone, or other correspondence, we may store:
With respect to clients advised by us, we may additionally collect information required by law to determine your status as a professional investor.
With respect to individuals interviewed as part of investment research, we may store your name, the date of our conversation, and our notes from such conversations in our research management system.
With respect to individuals or entities that have actively requested to receive our investor letters and are deemed appropriate to receive such by law, we may store your email address, your name, and proof of your inquiry to receive our investor letters.
We are required to keep all accounting records according to bogføringsloven. This means that we store invoices and similar documents for accounting purposes. These may contain personal information such as name, address, and service description. Our legal basis for processing personal data for accounting purposes is databeskyttelsesforordningens artikel 6, stk.1 litra. We retain this information for a minimum of 5 years after the current financial year has ended.
If you have submitted an unsolicited job application, we will immediately assess whether your application is relevant, and then delete your information if there is no match.
We will only process sensitive personal data, to the extent required by law, and then only with your express consent.
Kold Investments needs to collect your data to comply with laws and regulations. Depending on the nature of your data and your relationship with Kold Investments, this varies
When you contact us, we may record that you initiated the inquiry and what information you requested. We do this to document how the relationship was initiated and to comply with applicable legal and regulatory requirements
When you are a direct client of Kold Investment or an investor in a fund advised by Kold Investments, we need to administer our relationship with you to ensure that you receive proper service and reporting. To do so, we store all email correspondence. In some cases, we may store notes from meetings to maintain a satisfactory service level of our ongoing communication, advice, and service level.
When you are a direct client of Kold Investment, we collect certain data required by law to determine your status as a professional investor, as required by law. A failure to provide the personal data requested to fulfill the purposes described in this Notice may result in Kold Investments being unable to provide the requested services to you.
When you are an industry expert, or an individual that we interview as part of our investment research, we store your name and notes of our conversation. We do so to identify and evaluate investment opportunities that we advise our clients about. You can always request that we anonymize such conversations.
Kold Investments may share personal data with regulatory bodies having competent jurisdiction over them, as well as with the tax authorities, auditors and tax advisers (where necessary or required by law).
When potential investors who contact Kold Investments (without any direct solicitation from the company or its representatives) inquiring about investing in funds advised by Kold Investments or with asset managers advised by Kold Investments, Kold Investments may, with your explicit consent, share such information with the respective fund administrator or asset manager.
Data is stored in cloud services of Apple, Microsoft and Notion, which to our knowledge is not transferred outside the European Economic Area.
We employ appropriate technical and organisational measures to protect personal data within our control against accidental or unlawful destruction, loss, alteration, unauthorised disclosure, unauthorised access, and other unlawful or unauthorised forms of processing.
Personal data may be kept for as long as it is required for legitimate business purposes, to perform contractual obligations, or where longer, such longer period as is required by applicable legal or regulatory obligations or for any applicable limitation period under applicable law. Personal data will be retained throughout the life cycle of any investment advisory relationship, however no longer than necessary with regard to the purpose of the investor’s relationship with Kold Investments. Some personal data will be retained after a data subject ceases to be a client of Kold Investments.
You have the right:
Please note that Kold Investments does not use automated decision-making. The right to erasure is not absolute and it may not always be possible to erase personal data on request, including where the personal data must be retained to comply with a legal obligation. Erasure of the personal data requested to fulfil the purposes described in this Notice, may result in the inability to provide the services to the investor.
If you have any concerns about the way in which Kold Investments uses your personal data, please contact us by email at info@koldinvestments.dk. If you want to complain, you may also contact the data protection authority. You can find the contact information for the Danish Data Protection Agency at www.datatilsynet.dk.
Welcome to Kold Investments' website. Please read the following information before proceeding. By accessing this website and any of its pages, you agree to the terms set out below.
This website is provided for informational purposes only. The information on this website does not constitute investment advice or any other professional advice and does not constitute an offer or solicitation to buy or sell any security, financial instrument, product, or service in any jurisdiction.
Except for the Legal & Disclosures section, this website does not contain specific information about any investment vehicle advised or managed by Kold Investments. Documents made available under Legal & Disclosures (including PRIIPs KID and SFDR disclosure) are provided for compliance and regulatory disclosure purposes only and do not constitute an offer or solicitation.
This website is presented in English for convenience, including for communication with international stakeholders such as current and potential portfolio companies. The information is not directed to any person in any jurisdiction where it would be unlawful to make it available.
Investing involves risk, including the risk of loss of capital. Past performance is not a reliable indicator of future results. You should consult your professional advisers regarding legal, tax, financial, and other matters that may be relevant for assessing the suitability and appropriateness of any investment. You should not make any investment decision based on the content of this website and should review all legally required documentation before making any investment decision.
While we seek to ensure that the information on this website is accurate and up to date, it is provided "as is" and may be changed without notice. Kold Investments makes no warranties, express or implied, regarding the completeness, accuracy, or availability of the website or its content.
To the extent permitted by applicable law, Kold Investments shall not be liable for any loss or damage arising out of or in connection with the use of, or reliance on, this website or its content.
These terms and your use of this website are governed by the laws of Denmark, without regard to its conflict of law provisions.
Kold Investments reserves the right to change these terms at any time without notice.
For further information or inquiries, please contact us at info@koldinvestments.dk.
Below you will find legal information relevant to your use of this website and our operations.
If you wish to raise a complaint regarding services provided by Kold Investments ApS, please contact the complaints officer:
Simon Kold, Managing Director
info@koldinvestments.dk
To help us route your message correctly, please include "Complaint" (or "Klage") in the subject line.
Please describe what the complaint concerns, relevant dates, and any supporting documents. We will acknowledge receipt and handle the complaint impartially and within a reasonable time.