Kinnevik, the Swedish investment fund that has been supporting Zalando since 2010, helping it to go public in 2014, has decided to transfer its 21 percent interest in the big German-based e-tailer to its own shareholders, provided they approve the move at Kinnevik’s annual meeting on April 29. The Swedish fund said that it prefers to concentrate on start-ups with a high potential.

Zalando’s executive board is supporting the action of Kinnevik, noting that it is now four times bigger than at the time of the IPO. Kinnevik already reduced its stake in Zalando from 26 percent last June, taking advantage of an increase in the e-tailer’s share price. Its stock price continued to grow recently, reaching a 52-week high of €102.90 just before Kinnevik’s announcement. It subsequently dropped slightly, and it stands now at around €97.58, which gives Zalando a market capitalization of €24.9 billion.