The red carpet has been rolled out for Denmark—an entrepreneurial and innovative hub and home to many unicorns. Despite the tough economic climate in 2023, the ecosystem of startup venture capital in Denmark shows all the signs of further growth:

  • In 2023 (the first three quarters), Danish startups raised over $1B in funding, slightly beating the 2022’s figures by just $4M. 
  • In 2023, healthtech startups drummed up a whopping $835M in VC cash, an 11% increase compared to 2022.
  • There are 2.3 unicorns per capita (millions), a rate higher than both the UK’s 1.7 and Finland’s 1.3.

So, who are the key players shaping Denmark’s VC future? We’ve conjured a list of the top 15 investors in the area, including their investment preferences and contact information to help you start your fundraising journey asap.

1. Seed Capital

➡️ Seed Capital is the largest seed venture capital investor in Denmark, respected by successful entrepreneurs and top global partners. With over 20 years of experience in investing, the fund survived a few economic crises, dipped in almost every sector, and assisted its portfolio companies in almost every part of their venture journey.

Industries: Consumer, Deep Tech, Enterprise, Fintech, SaaS

Funding stage: Seed, Series A

Value-added beyond money:  

They offer management support, organizational and strategic planning, legal advice, business development, and financial, operation, and marketing assistance. 

Average check size: €2M-€4M 

Number of investments: 216

Number of exits: 33

Notable portfolio companies: Vivino, Coinfy, Trustpilot

Contacts: Submit-deck, Get-in-touch, LinkedIn

2. Morph Capital

➡️ Morph Capital is a founder-focused fund with a hands-on approach to helping early-stage companies scale. Defining themselves more as entrepreneurs rather than investors, they usually build a close bond with their portfolio companies, helping them face all the difficulties. Support, not control—that’s their aim.

Industries: Fintech, Crypto & Web3, AI

Funding stage: Pre-Seed, Seed

Number of investments: 9

Notable portfolio companies: Mattereum, KIN, TaxHelper

Contacts: LinkedIn

3. Heartcore Capital

➡️ Heartcore Capital channels venture capital not only into Copenhagen’s most innovative startups, but also into Europe’s leading market-shaping firms. With over 100 startup teams across 13 countries under their belt, they empower tech-focused businesses that improve people’s lives.

Industries: Travel, Education, Energy, Entertainment, Finance and Insurance, Food, Health and Wellness, Housing, Mobility, Productivity, Other, E-commerce, SynBio

Funding stage: Pre-Seed to Series A

Number of investments: 185

Number of exits: 21

Notable portfolio companies: Tink, Neo4j, Boozt

Contacts: Contact email, LinkedIn

4. Ugly Duckling Ventures

➡️ Ugly Duckling Ventures is a tidlig stage venture capital firm from Denmark that invests in Nordic ventures. Thanks to their structured yet flexible approach, they make initial investments in entrepreneurs still finding their footing, later offering substantial follow-up funding when needed.

Industries: DeepTech, VR & AR, Manufacturing, SaaS

Funding stage: Pre-Seed, Seed

Value-added beyond money:  

With over 10 years of experience in the Danish startup community, most of their investors ensure valuable support to their portfolio companies. 

Number of investments: 9

Number of exits: 1

Notable portfolio companies: Kollektiv, Leske, Yo GO

Contacts: Contact email, LinkedIn

5. PreSeed Ventures

➡️ PreSeed Ventures has over 20 years of experience finding and guiding Denmark’s standout startups like Vivino, Trustpilot, and Lunar. Assisted in over 400 journeys, from fresh faces to top dogs, they are building tomorrow’s leading companies.

Industries: Agnostic

Funding stage: Seed, Early stage

Value-added beyond money:  

  • PSV Academy—a community of tech founders who share their experience and expertise.
  • PSV Platform—a space for founders to get personal growth and mental health support, legal, PR, and design assistance, and a leadership program. 

Number of investments: 129

Number of exits: 22

Contacts: Contact-page, Submit-pitch-page, LinkedIn

6. Dreamcraft Ventures

➡️ Dreamcraft Ventures, hand-on venture engineers for tech-driven businesses across the Nordic and Europe. They are the type of VCs who dive deep into the process rather than merely giving advice.

Industries: Gaming, D2C, B2B SaaS, Decarbonization, Esports 

Funding stage: Pre-Seed to Series A

Number of investments: 31

Number of exits: 2

Notable portfolio companies: Flawless, Airhelp, Hometouch

Contacts: Contact-page, LinkedIn

7. Accelerace

➡️ Accelerace, a pioneering pre-seed venture capital investor in Denmark, is home to Nordic entrepreneurs launching the future’s top-notch businesses. For over 16 years, it has served as the initial gateway for more than 900 university students, parents, executives, extraordinary entrepreneurs, etc.—all those who are now running Europe’s most promising startups and scaleups. 

Industries: Manufacturing, Real Estate, Design, Education, Commerce, Advertising, Apps, AI, Professional Services, SaaS, Travel & Tourism, Payments

Funding stage: Pre-seed

Value-added beyond money:  

The fund runs three mentoring programs for startups—Beyond Beta (all ventures), VITA Accelerator (digital health ventures), Nordic Mentor Network for Entrepreneurship (life science ventures).

Average check size: €130K 

Number of investments: 69

Number of exits: 8

Notable portfolio companies: Coinfy, Exo360, Reapplix

Contacts: Contact page, LinkedIn

8. People Ventures

➡️ People Ventures invests in people and for people. They back teams and businesses once they’re sure that their experience, operational expertise, and networking can turn their vision into reality. They invest across all stages of a startup’s journey, from pre-seed to expansive growth. It’s important to mention that they don’t support ventures operating in potentially harmful sectors.

Industries: Tech, SaaS, Digital Health 

Funding stage: Pre-Seed to Series A

Average check size: €250K-€2M 

Number of investments: 27

Notable portfolio companies: Tiimo, Passendo, Ruumi

Contacts: Contact-page, LinkedIn

9. Kompas

➡️ Kompas is an early-stage venture capital fund in Denmark with offices spanning Berlin, Amsterdam, and Tel Aviv. They back disruptive companies that speed up digital changes, support a circular economy, and reduce carbon emissions in the construction and manufacturing sectors.  

Industries: Built Environment, Manufacturing, Climate Technology

Funding stage: Seed to Series A

Average check size: €1M-€5M 

Number of investments: 18

Notable portfolio companies: Findable, Viridian, Minut

Contacts: Submit-form, LinkedIn

10. byFounders

➡️ byFounders is a SaaS investor in Denmark with the next generation seed ventures as its sweet spot. Their team comprises over 70 seasoned founders and operators from the Nordic and Baltic regions.

Industries: SaaS

Funding stage: Pre-Seed to Series A

Value-added beyond money: They offer a global network, operational expertise, and comprehensive guidance.

Average check size: €500K-€4M 

Number of investments: 68

Average number of rounds per year: 10-12

Number of exits: 2

Notable portfolio companies: BonBot, Drem, Greenely

Contacts: Pitch-us-page, LinkedIn

11. Scale Capital

➡️ Scale Capital partners with early-stage B2B tech businesses. They help scale Nordic and German founders today so they can conquer the US market tomorrow.

Industries: Enterprise Software, DeepTech

Funding stage: Seed to Series A

Value-added beyond money: strategic and operational assistance

Average check size: €1M-€3M 

Number of investments: 15

Number of exits: 3

Notable portfolio companies: Globus, Quantica, Airtame

Contacts: Contact-us-page, LinkedIn

12. IDC Ventures

➡️ IDC Ventures is a fintech, platform, and marketplace investor in Denmark. Since 2019, they have supported ventures taking the front seat in the digital revolution across Europe, the USA, and Latin America. 

Industries: Fintech, Marketplace, Platforms

Funding stage: Series A to Growth

Number of investments: 37

Number of exits: 2

Notable portfolio companies: Bipi, Battleface, Influur

Contacts: LinkedIn

13. 2150

➡️ 2150 funds tech ventures that aim to create sustainable cities of the future. Their “constructive capital” mission is based on the conviction that sustainability leads to significant returns and considerable environmental impact. To accomplish their mission, they integrated this conviction into everything they do, from investment decisions to daily operations.

Industries: UrbanTech 

Funding stage: Early Stage

Number of investments: 20

Number of exits: 1

Notable portfolio companies: Urban Footprint, OpenSolar, Luxwall

Contacts: Contact-page, LinkedIn

14. Look Up Ventures

➡️ Look Up Ventures focuses on companies tackling climate change and protecting biodiversity. Made up of experienced founders, operators, and investors, the firm supports solutions that can quickly grow and make a real difference.

Industries: Materials, Energy, Food & Agriculture, Transport, And Carbon Management

Funding stage: Pre-Seed to Series A

Number of investments: 7

Notable portfolio companies: Rubi, Reshape Biotech, Ento Labs

Contacts: Startup-form, LinkedIn

15. Nordic Alpha Partners

➡️ Nordic Alpha Partners, founded in 2017, is a growth fund in Northern Europe with offices in Copenhagen and Munich. Supported by major investors like Unigestion and Allianz and guided by a senior advisory board with experts like Christian Clausen and Jim Hagemann Snabe, it specializes in scaling industrial greentech ventures.

Industries: GreenTech

Funding stage: Growth Stage

Number of investments: 14

Number of exits: 2

Notable portfolio companies: SunRoof, Agrointelli, AquaGreen

Contacts: Contact-page, LinkedIn

What’s next

Denmark’s startup ecosystem strives. Beneficial conditions for IPOs, an abundance of early-stage venture capital firms, and a considerable track record of unicorns—all this attracts founders not only from the Nordic countries but also from the whole world. 

Eager to become the next Denmark’s success story? Buckle up, because you’re in for a bumpy ride. To simplify this journey and boost your chances for success, explore our services on expert investor targeting & outreach and pitch deck design. They will help you build a powerful story, pack it in an investor-appealing deck, and win over investors in Denmark.

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Ruslana

CONTENT WRITER

Hello! I'm Ruslana, a Content Writer at Waveup. Based on my background in marketing research and business analytics, and my current collaboration with the savvy team at Waveup, I'm excited to share my insights and learnings with you.