YLD

YLD

YLD was founded in Stockholm by a group of entrepreneurs reinvesting proceeds from earlier ventures. The firm's website names CEO and Partner Willem De Geer alongside partners Viktor Mandel, Jonathan Willén, Andrea Ryott, and Emmeli Höglund. It describes itself as “founded by entrepreneurs,” and its posture is that of an operator-led investor rather than a traditional fund manager — it invests its own balance-sheet capital without a defined investment horizon or a limiting strategy mandate. YLD targets private companies across three verticals: Real Estate, PropTech, and FinTech. It also selectively buys into public equities where it sees compelling risk-adjusted returns and relationship value. The firm acts as lead investor in many of its platform holdings — confirmed portfolio companies include the tenant-experience platform Flowpass, which reports 400,000 units across the Nordics, the Swedish long-term residential developer Arvet, and the home-financing startup Bodil. YLD also holds minority stakes in a broad set of companies spanning Indian food commerce (FreshToHome), cybersecurity (CyAmast, Threatspan), digital health (Apotea), industrial tech (Freemelt), and digital assets (Virtune, listed on Nasdaq First North Growth Market). Its geographic footprint is concentrated in Sweden while extending into India, Southeast Asia, and the UK through direct investments and its disclosed strategic partnership with Crescent Point, a China- and Southeast Asia-focused private equity firm. YLD runs a hybrid model: it builds and holds long-term real estate operating companies, makes venture and growth-stage direct deals, and enters structured partnerships with external VC and PE firms to broaden its pipeline. The firm explicitly states that it seeks look-back investment rights and co-investment slots when it commits as an LP to external managers. Its website lists known GP relationships including Pi Labs (Europe’s leading PropTech VC, where YLD acts as a Nordic strategic partner), Indian public-equity manager Cohesive Capital, and the B2B SaaS-focused VC firm Pentathlon Ventures. YLD has not published an AUM figure or aggregate deployment number. What structurally differentiates YLD is its pure balance-sheet capital base and the absence of any fund-life constraint. The firm does not raise third-party blind pools, which frees it to hold assets indefinitely and underwrite deals that a 10-year closed-end fund would pass on. This architecture mirrors a single-family office but is deployed through a for-profit asset-manager entity, with a team of named partners rather than a single-family principal — making it a permanent-capital vehicle run by a group of entrepreneurial co-investors.