Swedish investment firm J12 has sold down its stake in AI company Lovable, Shifter reported, citing Dagens Industri. J12 backed Lovable in late 2023. Partner Bo Mattson told the Swedish newspaper that the firm would have invested more at the time if it had been possible.
Mattson is one of three partners at J12, which invests in early-stage AI companies. The report does not establish how much of the Lovable holding J12 sold. The transaction concerns existing investor shares rather than new money paid into the company.
Lovable has since attracted a much larger financing round, according to Breakit as cited by Shifter. The cited figures for J12's initial investment, return multiple and sale proceeds do not reconcile, so the realised gain cannot be quantified reliably from these reports.