LetterOne (L1) Investment Holding

LetterOne, also known as L1, is an international investment business headquartered in Luxembourg. It was founded in 2013 by a group of investors including Mikhail Fridman, Petr Aven, and German Khan. The firm manages assets across several key sectors including energy (L1 Energy), technology (L1 Technology), health (L1 Health), and retail (L1 Retail).

While the brand was founded by Russian-born entrepreneurs, it operates as a Western-style international investment vehicle. However, following the 2022 geopolitical events, the company underwent significant restructuring to distance its management from sanctioned individuals. The firm maintains a strong presence in London and Luxembourg, investing in various global markets and well-known brands across the UK, Europe, and America.