Announcement • Apr 04
An undisclosed buyer acquired an unknown minority stake in Eleven Labs Inc. from Flat Capital AB (publ) (OM:FLAT B). An undisclosed buyer acquired an unknown minority stake in Eleven Labs Inc. from Flat Capital AB (publ) (OM:FLAT B) on April 2, 2026. In related separate transaction, Flat Capital is also divesting its assets in OpenAI, Lovable, Cerebras Systems, and Alpaca, as well as more than half of the holding in Perplexity. The divestments were carried out as separate transactions with independent buyers. These passive AI and software-related holdings are for a total of SEK 720 million. Following the divestments, net debt amounts to approximately SEK 330 million, significantly strengthening Flat's financial position and providing available investment capacity of approximately SEK 615 million for new investments and acquisitions going forward.
These transactions are resulting in a gain of approx. SEK 526 million and a return of approximately 3.7x MOIC and approximately 130% IRR over the holding period. The divestments were thus carried out at a profit of approx. SEK 193 million compared to the most recent book value, corresponding to +36%.
Augment Partners AB acted as financial advisor for Flat Capital AB.
An undisclosed buyer completed the acquisition of an unknown minority stake in Eleven Labs Inc. from Flat Capital AB (publ) (OM:FLAT B) on April 2, 2026.