Betting on passion.
Chasing network- and scale effects.

Approach

Concentrated and Research-Intensive

  • Kold Investments is a single-strategy public equity investment firm based in Copenhagen.
  • We pursue long-term investments in companies characterized by network effects or scale economies and led by passionate people.
  • Our strategy is concentrated, with 8 to 14 companies in the portfolio, each having undergone extensive commercial and financial analysis.
  • Each investment is underwritten with a 6–8 year horizon, aiming for resilient capital preservation and potential for outsized optionality.
  • Our primary measure of risk (at both the security and portfolio level) is the potential for permanent capital impairment over this horizon. We do not focus on near-term price volatility.
Marbles

Simon Kold
Profile

Simon Kold (Founder)

  • Founder of Kold Investments.
  • Worked a decade at Novo Holdings, the investment firm managing €150B in assets for the Novo Nordisk Foundation; Led 13 public equity investments that outperformed the MSCI World by 69% (Dec 2018–Aug 2023).1 Experienced in both public and private markets.
  • M.Sc. in Finance and Accounting, with highest GPA of graduating class at Copenhagen Business School.
  • Probably the world's only investor with both a degree in theology and a stint in stand-up comedy.
  • Author of the business analysis book On the Hunt for Great Companies: An Investor's Guide to Evaluating Business Quality and Durability, published by Wiley in 2024. Check out this dedicated website for content and interviews related to the book.
1Past results are not indicative of future results.
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Contact Kold Investments

If you would like to contact Kold Investments, then please use the form below or send an email to: info@koldinvestments.dk

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Disclaimer

This website is for informational purposes only and does not constitute a description of our services nor contain information about investment vehicles advised by us. The information provided on this website does not constitute, and is not intended as, an offer or sale of any security or investment product or investment advice. The website should not be relied upon as including sufficient information to support any 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.