[2] Founded under the name Industri Kapital by Björn Savén and Kim Wahl,[3] the partnership's origins lie in Enskilda Ventures, which in 1989 sponsored Björn Savén in raising the Scandinavian Acquisition Capital Fund (SAC) and established the London office.

[6] In December 2023, it disposed of CDMO Klingel Holding to Swedish medical devices developer and manufacturer Elos Medtech for a sum of €370m.

[9] Industri Kapital's second fund, IK 1994, held its final closing with commitments totalling €250 million.

[citation needed] In 1997 Industri Kapital inaugurated its Hamburg office and closed its third fund, IK 1997, with commitments of €750 million.

[citation needed] The fourth fund, IK 2000, closed with €2.1 billion in commitments in the year 2000.

In the year 2007 Industri Kapital closed its sixth fund, IK 2007, with commitments of €1.7 billion.

In March 2023, IK Partners acquired UK-based Ipsum Group, specialist infrastructure service provider, from Aliter[19] for an undisclosed amount.