“The venture capital market looks promising for 2010“, the Swedish industrial holding firm Investor said.

Investor AB, the publicly traded industrial holding firm controlled by the influential Wallenberg family, announced net profits of 31.4 billion kronor ($4.4 billion) for last year after a 36.7-billion-kronor net loss 2008.

“Most economic measures now indicate that we are - and have been for a few months - in a global recovery”, Chief executive Börje Ekholm said in the report, adding that "the venture capital market looks promising for 201o".

The company's performance is considered a reliable indicator of the state of the Swedish economy as it has stakes in nearly all of Sweden's major companies. Among Investor's main holdings are Swiss-Swedish engineering group ABB, Swedish bank SEB, white goods maker Electrolux and the world leader in telecoms networks, Ericsson.

The group's net asset value amounted to 187 kronor per share on December 31, up from 181 kronor at the end of the third quarter and 150 kronor a year ago. Than a 25 percent year-on-year increase following financial market improvements.

The total return on the Investor share was 18 percent in 2009 while the OMX Stockholm 30 index rallied some 45 percent last year.

“While we delivered a return in excess of our long-term goal, we underperformed the general market in 2009. All shareholders have the right to be disappointed. We have, however, outperformed the general market since the start of the turbulent market in early 2008”, Börje Ekholm said.

The Board of Directors proposes a dividend to shareholders of 4 kronor per share.