Vaekstfonden – The Danish Growth Fund – is the Danish state's investment fund. We strive to improve access to risk capital to enable Danish businesses to innovate, and to generate growth and new jobs. In close collaboration with banks and domestic and international private investors, we finance companies from all sectors nation-wide. We can accompany you for the entire journey – from your company’s infancy through growth phases to expansion abroad and even to an initial public offering.

Novo Holdings is a Danish holding and investment firm managing the assets of the Novo Nordisk Foundation. Established in 1999, it invests globally in life science companies at all stages of development, with a portfolio also including equities, bonds, real estate, and infrastructure.

Seed Capital is an investment firm that focuses on late seed-stage technology companies in Denmark with global potential. The firm typically invests between 1 to 3 million euros in funding rounds ranging from 1 to 6 million euros. Annually, Seed Capital aims to invest in 15 to 20 new companies, primarily from the Nordic region. With a strong network of angel investors and international venture capitalists, Seed Capital often collaborates with other investors to support its portfolio companies through various stages of growth. In addition to financial backing, the firm provides valuable assistance in areas such as management support, business development, strategic planning, and operational guidance. Seed Capital has a successful track record, having invested in notable companies like Trustpilot, Vivino, and Endomondo, contributing to their development into significant players in the tech industry.

Vækstfonden, also known as the Danish Growth Fund, is a venture capital firm established in 1992 and headquartered in Hellerup, Denmark, with additional offices in Vojens and Jutland. It focuses on enhancing access to risk capital for Danish businesses across various sectors, from seed stage to growth and expansion phases. The firm specializes in both direct investments and fund of funds investments, targeting small and medium enterprises, particularly in the life sciences and technology sectors. Vækstfonden operates through five investment groups: Life Science Ventures, Growth Capital, Fund of Funds, Technology Ventures, and Need-Driven Ventures. It typically invests between DKK 5 million and DKK 25 million, acquiring up to a 25% equity stake in its portfolio companies. Additionally, Vækstfonden collaborates with banks, private investors, and Danish financial institutions to provide loans, guarantees, and co-investment opportunities, supporting companies throughout their entire growth journey, including international expansion and potential public offerings.

PreSeed Ventures is a venture capital firm founded in 2000 and located in Kongens Lyngby, Denmark. It specializes in investing in early-stage companies, particularly in the life science, information technology, advanced manufacturing, and clean technology sectors within Denmark and Sweden. The firm operates at the pre-seed stage, providing essential support to founders as they transform their startup visions into successful businesses. With a strong foundation in the technological research environment at Denmark's Technical University, PreSeed Ventures leverages its extensive experience in nurturing promising startups while minimizing risks associated with early investments. In 2020, the firm launched its first commercial venture fund, continuing its mission of fostering innovation and growth among emerging companies.

NorthCap Partners, established in 2007, is a private equity and venture capital firm based in Copenhagen, Denmark. It specializes in investing in technology companies across various stages of development, from seed to growth. The firm focuses on information technology and software, with a particular emphasis on cloud computing (SaaS), communications, mobile/mobility, online services, and e-commerce. NorthCap Partners prefers to invest in business-to-business (B2B) and business-to-business-to-consumer (B2B2C) fields, with a strong preference for companies based in the Nordic region, particularly Denmark. The firm typically invests between €1 million and €5 million, seeking companies with a turnover between DKK5 million and DKK50 million. It aims to provide strategic support to its portfolio companies, often taking a board seat, and frequently co-invests with local and international VCs. NorthCap Partners focuses on United States pricing for exits.

A European early-stage venture capital firm founded in 2007, Sunstone Life Science Ventures invests in novel pharmaceutical ingredients for human therapeutic use. With a focus on the life science sector, they manage multiple funds totaling over €570M, investing across Northern and Western Europe.

Founded in Copenhagen, Denmark in 2014, Dreamcraft Ventures is a venture capital firm investing in European tech-driven companies from pre-seed to series A. They focus on gaming, esports, B2B SaaS, and decarbonization sectors.

Heartcore Capital A/S is a venture capital firm specializing in investments in seed, series A and growth investments in startups, early venture and late venture. The firm seeks to invest in consumer technology B2C and B2B2C companies with a focus on direct-to-consumer brands, food, digital health, travel, finance, marketplaces, and consumer subscriptions. It invests all across Europe with a focus on the United Kingdom, and occasionally in the United States. The firm typically invests between €0.25 (USD0.28 million) and €5 million (USD5.67 million). Heartcore Capital A/S is based in Copenhagen, Denmark with additional offices in Berlin, Germany and Paris, France.

Founded in 2013, North-East Venture is a corporate venture capital firm based in Copenhagen, Denmark. It focuses on investing in innovative startups across various sectors including fintech, e-commerce, consumer lifestyle and sustainability, artificial intelligence, virtual reality, and augmented reality.

Established in 2020, the European Innovation Council supports innovative startups and researchers with promising ideas, focusing on early-stage companies with positive environmental, social, or governance impacts. It co-invests alongside private investors.

Futuristic.vc is a venture capital firm based in Copenhagen, Denmark, with an additional office in Aarhus C. Founded in 2017, the firm focuses on pre-seed, seed, and early-stage investments, primarily targeting the Nordic region. Futuristic.vc is sector agnostic but shows particular interest in SaaS, B2B, and B2C sectors. The firm typically provides initial financing of up to EUR 100,000, aiming to support ambitious entrepreneurs with innovative ideas. With a founders-first approach, Futuristic.vc seeks to empower bold Nordic entrepreneurs in their quest to build impactful businesses.

Established in 2019, IDC Ventures is a global venture capital firm focusing on FinTech and marketplace startups. It invests in Series A to growth-stage companies across Europe, the US, and Latin America, with a primary focus on Brazil and Mexico.

Founded in 2021, Climentum Capital is a venture capital firm based in Copenhagen, Denmark. It invests in European seed and series A climate tech companies, focusing on sustainable, low-carbon, and circular industries.

PreSeed Ventures is a venture capital firm headquartered in Kongens Lyngby, Denmark. Established in 2000, the firm focuses on early-stage investments in life science, information technology, advanced manufacturing, and clean technology companies operating in Denmark and Sweden. It seeks to support startup growth through funding and strategic guidance, helping ambitious ventures move from concept to market in the Nordic region.

Scale Capital is a Danish venture capital firm founded in 2012 and based in Copenhagen, with offices in New York and the San Francisco Bay Area. It backs early-stage technology startups, with a Nordic focus on B2B software, artificial intelligence, analytics, digital health, and related tech sectors, and it also supports cross-border expansion to the United States. The firm typically participates in Seed to Series A rounds, providing investment checks in the €1-4 million range to help validate business models and accelerate growth. While primarily Nordic in origin, Scale Capital seeks to help portfolio companies scale internationally and win in the US, applying a technology-led, sector-focused approach to building resilient, scalable businesses.

Established in 2009, Lundbeckfonden Ventures is an evergreen life science venture fund wholly owned by the Lundbeck Foundation. It invests up to €50 million annually, operating independently and generating returns to support its activities.

Upfin is a specialized early-stage investor focused on fintech companies.

Established in 2021 and headquartered in Copenhagen, Denmark, The Aventures is a venture capital firm specializing in early-stage investments. They focus on deep-tech companies at the pre-seed and seed stages, bringing together expertise from backgrounds such as cloud infrastructure, data science, machine learning, software development, and business development.

Established in 1998, Syddansk Innovation is a Danish business incubator based in Odense. It focuses on fostering innovation across various technology sectors, including industry and tech, ICT, life science, clean tech, and welfare technology.

Morph Capital is a venture capital firm founded in 2018 and based in Copenhagen, Denmark. It invests in early-stage startups across sectors including B2B, financial services, information technology, ad tech, fintech, health technology, legal technology, SaaS, blockchain, advanced manufacturing, infrastructure, e-commerce, ride-sharing, and virtual reality. The firm supports its portfolio companies by assisting with infrastructure setup, growth planning, strategy development, talent hiring, legal work, and fundraising preparation.

Den Sociale Kapitalfond Management is a private equity and venture capital firm based in Copenhagen, with an additional office in Aarhus, Denmark. It manages social impact funds and social impact bonds and focuses on growth investments in small and medium-sized Danish companies that deliver social impact alongside financial performance. The firm also runs an accelerator program to support social entrepreneurs and aims to share knowledge while building an international network of organizations and experts in social venture capital and impact measurement.

People Ventures, founded in 2016 and based in Taastrup, Denmark, is focused on developing early-stage technology startups across various industries, including digital health, enterprise software, and SaaS. The firm collaborates with a diverse team of co-founders, investors, executives, engineers, academics, and industry experts to support entrepreneurs in building successful businesses. By providing essential resources, strategic guidance, and operational execution, People Ventures aims to foster innovation and drive the growth of promising technology companies.

Established in 2020 and headquartered in Copenhagen, Denmark, NOON Ventures is a venture capital firm focusing on early-stage investments. It specializes in backing transformative technologies with significant potential to address environmental or climate challenges. Unlike traditional investors, NOON limits its investments to few companies, aiming to be a true co-developer of businesses alongside entrepreneurs.

North Ventures is a venture capital investment firm established in 2019 and headquartered in Copenhagen, Denmark. The firm focuses on investing in technology-driven startups, specifically targeting companies in their seed to Series A stages. With a preference for Danish growth companies, North Ventures aims to support innovative businesses that have the potential for significant impact and expansion in the technology sector.

Underground Ventures, established in 2024 and based in Copenhagen, Denmark, is a venture capital firm focused on early-stage technology companies. It specializes in investing in geothermal energy technology startups, aiming to facilitate global geothermal deployments. The firm commits up to $40 million over a period of 3 to 5 years to support these innovative ventures.

Founded in 2019, The Footprint Firm is an advisory and investment company based in Copenhagen, Denmark. It focuses on sustainability, investing industry-agnostically across food, construction, materials, and technology sectors within the Nordic region.

3B Ventures, founded in 2017 and based in Copenhagen, Denmark, operates as a traditional non-venture capital entity focused on fostering innovation. The company supports entrepreneurs who aim to create market-disrupting enterprises while addressing one or more of the Sustainable Development Goals established by the United Nations. By leveraging artificial intelligence and a data-driven approach, 3B Ventures identifies investment opportunities and selects startups based on extensive data points gathered from a global network of partners. The firm emphasizes a commitment to making a noticeable difference through its funding decisions, concentrating on technology companies primarily in the Nordic and Southeast Asian regions.

Crista Galli Ventures is a venture capital firm established in 2019, with offices in Copenhagen, Denmark, and London, United Kingdom. The firm focuses on investing in early-stage startups, particularly in the health technology, digital health, and deep technology sectors. Crista Galli Ventures provides patient capital to support companies at the pre-seed, seed, and Series A stages, typically investing up to £0.5 million at the seed level and up to £3 million at the Series A level. The firm prioritizes investments in pan-European companies, aiming to foster innovation and growth in the healthcare landscape.

Founded in 2020, 2150 is a venture capital firm headquartered in Copenhagen, Denmark. It invests in technology companies focused on shaping sustainable cities of the future.

Founded in 2011, KRING is a venture studio based in Copenhagen, Denmark. It partners with entrepreneurs to co-create solutions that positively impact society and the planet, focusing primarily on SDG3 (Good Health and Well-Being) and SDG7 (Affordable and Clean Energy). KRING prefers working with startups operating in B2B2C or B2C markets.

Look Up Ventures is a Copenhagen-based venture capital firm that backs science-based start-ups across B2B and B2C sectors, including energy, information technology, agriculture, clean technology and food technology. It invests from pre-seed to Series A, supporting ventures addressing the climate emergency and biodiversity loss. The firm focuses on breakthrough technologies such as gas fermentation for alternative proteins and the automation of biotechnology research and development, aiming to accelerate sustainable innovation across sectors.

Established in 2013 and headquartered in London, West Hill Capital is a venture capital firm that focuses on financing fast-growing technology businesses across Europe. They provide strategic advice and capital raising solutions to companies at various stages, from seed rounds through to IPOs or M&A exits.

byFounders is a venture capital firm founded in 2017 and based in Copenhagen, Denmark. It invests in early‑stage technology companies across the Nordic and Baltic regions, providing capital and practical support to founders seeking to build globally ambitious businesses. The organization is a collective of accomplished entrepreneurs who invest in and mentor the next generation of startups, operating on a founder‑centric ethos described as for founders, byFounders. Its focus includes information technology and related tech sectors, with a hands‑on approach that helps portfolio companies scale and navigate the regional ecosystem through active involvement in growth strategy and governance.

Nordic FoodTech VC is a venture capital firm based in Helsinki, Finland, founded in 2018. It focuses on early-stage investments in Nordic food tech companies, supporting startups across the Nordic region, including Denmark, the Faroe Islands, Finland, Iceland, Norway, and Sweden. The firm targets innovative solutions in the food sector and aims to back companies that drive the future of food in the Nordic market.

Founded in 2017, Nordic Alpha Partners is a venture capital firm based in Hellerup, Denmark. The company invests in growth-stage companies across Northern Europe with a focus on green technologies and industrial transformation.

Accel is a venture capital firm founded in 1983 and based in Palo Alto, California, with additional offices in San Francisco, London, and Bangalore. It focuses on early and growth-stage technology startups, investing across software, cloud, data analytics, mobile technology, consumer services, fintech, security, healthcare, and information technologies. Accel seeks to partner with entrepreneurs to build world-class companies that define new categories and drive growth. Its portfolio includes notable technology companies such as Atlassian, Dropbox, Slack, Spotify, Etsy, Cloudera, DJI, Braintree, and Lookout Security, among others.

Founded in 2012 and based in London, UK, 2xN is a venture capital firm that primarily invests in early-stage technology companies.

Nordic Eye Venture Capital is a Danish venture capital firm with offices in Copenhagen, Zurich, London and San Francisco. It invests in Nordic early-growth technology and lifestyle companies that have global growth potential. The firm provides hands-on support and strategic guidance to help portfolio companies pursue exits within about five years.

byFounders VC Management ApS is a venture capital firm specializing in startups and early stage ventures at pre-seed, seed and in some instances Series A stages. It seeks to invest in tech companies with a focus on Artificial Intelligence. The firm prefers to invest in Nordics, Baltics and Silicon Valley. It also makes follow on investments in its portfolio companies. byFounders VC Management ApS was founded in 2017 and is based in Copenhagen K, Denmark with an additional office in San Francisco, California.

VIA Equity A/S is a private equity and venture capital firm specializing in seed stage, early stage, mid, late venture, expansion stage, growth capital financings, revenue stage, leveraged buyouts, management buyouts, PIPES, and turnaround of middle market companies. It primarily invests in companies operating in the technology, media, telecommunications, information and communications technologies sector. The firm also invests in Internet, communication, software including services and content sectors. Its secondary focus extends into hardware and more industrial markets as well as into the healthcare and life science markets as long as strong information technology components with a focus on software and communication are included. The firm typically invests in companies based in the Nordic region; in companies whose headquarters are outside the Nordic region but have elements of value-add activities located in the Nordic region; and companies ready for expansion outside the Nordic region. It seeks to invest equity up to €35 million per case ($38.96 million). The firm invests in companies of all sizes but its focus is on companies with revenues from between €10 million ($11.13 million) and €100 million ($111.34 million). It typically takes a minority share position but also considers acquiring a majority stake in its investments. The firm can make both controlling, joint-controlling and minority equity investments. The firm can invest on its own or as a lead investor in the primary focus sectors and prefers a co-investor in the secondary focus areas. It prefers to have a seat on the Board of Directors of its portfolio companies. VIA Equity A/S was founded in January 2006 and is headquartered in Hellerup, Denmark with additional offices in Stockholm, Sweden and Munich, Germany. VIA Equity A/S operates as a subsidiary of The ATP Group.

Crowberry Capital is a venture capital firm based in Reykjavik, Iceland, focused on seed and early-stage technology startups across the Nordic region. The firm backs teams with strong technology advantages and supports building fast-growing, international companies that can scale beyond the Nordics. It emphasizes a hands-on approach throughout the investment cycle, from seed to exit. The team combines extensive experience in managing technology startups and exits with a global outlook gained from work in multiple countries. Investments span sectors such as health tech, software-as-a-service, fintech, gaming and consumer products, reflecting a broad tech mandate in the Nordic ecosystem.

The Nordic Web Ventures is a venture capital firm based in Copenhagen, Denmark, founded in 2017. It focuses on investing in early-stage Nordic startups in information technology, consumer products and services, and is led by Neil S W Murray, backed by a network of more than 50 community builders, entrepreneurs and investors.

Investo Capital is a Danish venture capital firm located in Aalborg, established in 2018. The firm specializes in investing in early-growth companies in technology sectors, including information technology, software as a service (SaaS), and medical technology. Investo Capital targets innovative companies that demonstrate proof of business, strategic vision, and strong growth potential within Denmark. The firm places significant emphasis on strategic corporate concepts and competent management as essential qualities for investment consideration.

Northzone is a venture capital firm founded in 1996 and based in London, with offices in New York, Oslo, and Stockholm. It invests in technology-enabled companies across healthcare, software, hardware, artificial intelligence, semiconductors, blockchain, and gaming, spanning early-stage and multi-stage opportunities. The firm emphasizes connections by helping portfolio companies access customers, partners, and talent on an international scale. Northzone has backed notable founders of Spotify, Avito, iZettle, Klarna, and Hopin, reflecting a history of building category-defining businesses. The firm maintains a Nordic and European footprint while operating globally, and has raised substantial capital, including over €1.5 billion in funds.

Founded in 1995, SOSV is a global venture capital firm headquartered in New Jersey. It focuses on seed-to-growth stage investments in deep tech innovations, primarily in bio-tech/life sciences and hardware/robotics sectors, with a commitment to human and planetary health.

Founded in Singapore in 2017, Antler is an early-stage venture capital firm that invests globally. It focuses on backing exceptional founders from day one, offering a global community network of co-founders, talent, advisors, expansion support, and capital across various sectors such as technology, healthcare, finance, consumer goods, and more.

Omnes Capital S.A.S. is a venture capital and private equity firm specializing in direct and fund of fund investments. Within direct investments, the firm specializes in seed, startup, series A rounds, series B rounds, early venture, development stage, mid venture, late venture, emerging growth, growth capital, expansion, replacement capital, middle market, successions, small and mid-cap buyout, owner and leveraged buyout, mezzanine, PPP infrastructure, special situations, industry consolidation, mature, turnaround, and investing in small and medium enterprises. It is involved in all forms of business buy-ins/buyouts, on the occasion of inheritances, and in the form of spin-offs or delisting. Within fund of fund investments it invests in venture capital funds and secondary fund of funds. The firm prefers to invest in all the sectors including the information technology, life sciences, agri-food, telecommunications, and renewable energy sectors. It also invests in energy equipment and services; materials; construction and engineering; electrical equipment; commercial services and supplies; transportation infrastructure; hotels, restaurants, and leisure; agricultural products; cosmetics; real estate; online services; infrastructure services; electronic equipment and instruments; electronic manufacturing services; and water purification. Within information technology, the firm invests in electronics, materials, components, systems, laboratory and manufacturing equipment, design and test software, mobile, fiber optics, networks and operators, software applications, SaaS, cloud, hardware, development, administration and infrastructure, web-based technology services, media, and new information and communication technology (NICT). In life sciences, the firm invests in drug development, diagnostics, biotechnology, medtech, and medical devices. Under renewable energy, the firm invests in electricity and heat production, onshore wind, solar, hydro, heating networks in Europe with a focus on France, Germany, United Kingdom, Scandinavia, and Italy. It invests in companies based in Central America and Mexico; Caribbean; North America region with a focus on United States. The firm also invests in Turkey, Australia, Japan, New Zealand, Austria, Belgium, Denmark, Finland, France, Germany, Greece, Iceland, Italy, Luxembourg, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, and United Kingdom. The firm makes direct private equity investment in non-listed companies. Within mid-cap buyout and growth capital, the firm seeks to invest ticket size between €8 million ($8.80 million) and €25 million ($27.52 million) in companies with enterprise value between €25 million ($27.52 million) and €180 million ($198.12 million). Within small-cap buyout and growth capital, it invests in French small and medium enterprises with ticket size between €1 million ($1.10 million) and €8 million ($8.80 million) and enterprise value between €8 million ($8.80 million) and €25 million ($27.52 million). Within mezzanine buyout and growth capital, it makes investments in the form of bonds with share warrants (OBSA in French) in high-potential unlisted SMEs with a value of less than €300 million ($329.46 million). It seeks to invest between €1 million ($1.10 million) and €50 million ($55.03 million) in companies having revenues from $6.55 million to $322.7 million and enterprise value between $5.5 million and $1306.83 million. The firm also makes co-investments. When the firm co-invests, it seeks for a target enterprise value between €500 million ($550 million) and €1 billion ($1.10 billion) and investment capacity of €15 million ($16.51 million) per deal. The firm seeks to take minority stakes in its portfolio companies. It prefers to have a board seat on its portfolio companies. The firm seeks to invest for a period between two years and six years. It was formerly known as Credit Agricole Private Equity. Omnes Capital S.A.S. was founded in 2000 and is based in Paris, France with additional offices in Bruxelles, Belgium and Zurich, Switzerland.

Planetary Impact Ventures is an impact investing firm based in Humlebæk, Denmark. Founded in 2020, it invests in companies with sustainable business strategies, prioritizing sectors such as agriculture, food and biodiversity. The firm seeks to deliver fair financial returns while aligning investments with environmental and social principles, and it operates with patient capital. Its aim is to reconnect people with nature and to redefine value, supporting a broader restructuring of economic systems.

Maersk Growth is the partner for external innovation for Maersk, serving as the corporate venture capital arm that invests in startups and new technologies to decarbonize transportation and shipping. Founded in 2017 and based in Copenhagen, Denmark, the company focuses on climate tech and energy transition opportunities and pursues collaborative proof-of-concept initiatives within logistics and supply chain technologies, aligning investments with Maersk's strategic priorities. By supporting early-stage ventures and partnerships, Maersk Growth aims to accelerate solutions that enhance efficiency, reduce emissions, and advance sustainable growth across global logistics networks.