Investors in Denmark

Impact Fund Denmark is a private equity and venture capital firm specializing in financing in the form of equity, mezzanine, loans, debt and guarantees. It makes socially conscious investments. It makes directly & indirectly investments. Under directly investing, it invests in early stage & growth capital investments. Under indirectly investments, it invests in venture capital funds. It specializes in establishing new companies, setting up joint ventures between Danish companies and local business partners and in acquiring existing companies. It provides financing to private-sector projects in the developing countries. The firm can only invest in countries whose 2008 GNI capita income is below $0.03 million with an exemption granted to South Africa, Botswana, and Namibia. Also, the host countries of investments must be on the OECD’s DAC list of development aid recipients. It invests where private sector financing is unavailable or insufficient. It invests in sustainable growth and high-impact solutions in developing markets/countries. It does not invest in Forced labor or child labor, Ozone depleting substances, PCB's (Polychlorinated Biphenyls) and other specific, hazardous pharmaceuticals, pesticides/herbicides or chemicals, wildlife or products regulated under the Convention on International Trade in Endangered Species or Wild Fauna and Flora (CITES), Unsustainable fishing methods, Cross-border trade in waste and waste products, unless compliant with the Basel Convention and the underlying regulations, Destruction of High Conservation Value areas, Radioactive materials and unbounded asbestos fibres, Pornography and/or prostitution, Racist and/or anti-democratic media, Alcoholic Beverages (except beer and wine), Tobacco, Weapons and munitions, Gambling, casinos and equivalent enterprises, Standalone fossil fuelled power plants, Drilling, exploration, extraction, refining and sale of crude oil, natural gas and thermal coal, Storage, supporting infrastructure (pipelines etc.), transportation and logistics, and services primarily related to fossil fuels, Any business using captive coal for power and/or heat generation, Electricity generation from peat and activities leading to deforestation, Investments and/or other projects that aim to produce or make use of agricultural or forestry products, Biomaterials and biofuel production, Export-oriented agribusiness mod, Meat and dairy industries. It prefers investing in commercial services and supplies, biofuels, electric power by solar and wind energy and irrigation systems sector. The firm seeks to invest in climate and Agribusiness. It focuses its investments in Green energy & infrastructure with focus on Clean, affordable renewable energy, Waste recycling and management, Energy efficiency, Water access and management; Financial Services with focus on Microfinance, MSME financing, Development banks and Insurance; Sustainable food systems with focus on Climate farming, Storage and distribution, Processing, Forest and land; Healthcare with focus on Hospitals and clinics, Pharmacy chains, Diagnostic services, Pharmaceuticals & medical equipment. The firm prefers to invest in companies based in Africa focusing on North Africa, Sub-Saharan Africa, South America, Central America, Middle East and Algeria, Angola, Benin, Botswana, Jordan, Denmark, Senegal, Burkina Faso, Burundi, Cameroon, Cape Verde, Central African Republic, Chad, Comoros, Congo (Brazzaville), Democratic Republic of Congo, Côte d'Ivoire, Djibouti, Egypt, Arab Rep., Eritrea, Ethiopia, The Gambia, Ghana, Guinea, Guinea-Bissau, Kenya, Lesotho, Liberia, Libya, Madagascar, Malawi, Mali, Mauritania, Morocco, Mozambique, Namibia, Niger, Nigeria, Rwanda, Senegal, São Tomé and Principe, Sierra Leone, Somalia, South Africa, Sudan, South Sudan, Swaziland, Tanzania, Togo, Tunisia, Uganda, Zambia, Zimbabwe; Asia focusing on Afghanistan, Bangladesh, Bhutan, Cambodia, China, Fiji, India, Indonesia, Iran, Iraq, Brazil, Malaysia, Turkey, Mexico, Kiribati, Laos, South Korea, North Korea, Kyrgyzstan, Maldives, Federal States of Micronesia, Mongolia, Myanmar, Nepal, Marshall Islands, Pakistan, Papua New Guinea, Philippines, Western Samoa, Solomon Islands, Sri Lanka, Syria, Tajikistan, Thailand, East Timor, Tonga, Turkmenistan, Tuvalu, Uzbekistan, Vanuatu, Vietnam, West Bank and Gaza, Yemen; Europe focusing on Albania, Russia, Armenia, Azerbaijan, Caucasus, Belarus, Balkans, Bosnia & Herzegovina, Bulgaria, Croatia, Montenegro, Romania, Slovenia, Georgia, Kosovo, Macedonia, Moldova, Serbia, Ukraine; and Latin America with a focus on Belize, Bolivia, Colombia, Cuba, Dominican Republic, El Salvador, Grenada, Guatemala, Guyana, Haiti, Honduras Nicaragua, Paraguay, Peru, Saint Lucia, Saint Vincent and The Grenadines, Suriname, Ecuador, and Jamaica and North Asia, United States of America, Latin America and parts of Europe. It seeks to invest between from DKK15 million ($2.32 million) and DKK500 million ($77.52 million). The firm can invest up to DKK350 million ($51.34 million) per company. The firm seeks to co-invest with Danish businesses in projects based in developing countries. It prefers to take minority stake between 10% to 30% and up to 49 per cent in small projects. It prefers to take a board membership. The firm prefers to exit its investments within five to seven years when the loan has been repaid or the shares have been sold. The firm also offers special assistance to small and medium-sized enterprises which employs less than 300 employees, with an annual revenue of up to DKK 300 million ($53.16 million) and has a positive result in two out of three latest financial years. It also provides advisory services to business investments in developing countries. The firm makes two thirds of its investments in partnership and can also provide additional financing. Impact Fund Denmark was founded in 1967 and is based in Copenhagen, Denmark with additional offices across Asia, Europe, South America, and Africa.

Innovation Fund Denmark is an incubation and venture capital firm specializing in small and medium sized companies and early stage start-ups. The firm seeks to invest in technology sector, innovation, science, clean tech, healthcare, Entrepreneurship and infrastructure. It prefers to invest in companies based in Denmark and Partnering countries within Europe and beyond. It prefers to invest up to DKK 5 million ($ 0.79 million) in equity investments. Innovation Fund Denmark was founded in 2014 and is based in Aarhus, Denmark with an additional offices in Copenhagen, Denmark and Kobenhavn, Denmark.

IFU provides advisory services and risk capital to Danish companies wishing to do business in developing countries and emerging markets IFU provides risk capital and advice to companies wishing to set up business in Africa, Asia, Latin America and parts of Europe. Investments are made on commercial terms in the form of equity and loans. The purpose is to contribute to economic and social development in the investment countries. IFU and IFU managed funds have co-invested in close to 1300 companies in 100 countries in Africa, Asia, Latin America and parts of Europe. Committed investments total DKK 202 billion, of which IFU has contributed DKK 22 billion.

AICA is a non-profit organization designed to foster the development of entrepreneurial environment in Armenia . It is created to help start-ups and entrepreneurs with innovative ideas find high-caliber business professionals who would invest and help steer companies in their endeavors of high impact and growth. AICA is 20 members strong and growing. AICA brings together a very diverse group of CEOs, Entrepreneurs and Business Professionals from Armenia, Russia, Germany, Austria, Denmark, and the USA. Its members represent various industries ranging from cutting edge sphere in Biotech, Digital Healthcare, IT, Blockchain, Artificial Intelligence, Biometrics to more traditional sectors of Manufacturing, Construction, Real Estate Development, Renewable Energy, Banking, Fin-tech, Food & Beverage, Consumer Products, Logistics and Retail. AICA boasts 5 members from YPO and members from top business schools from Armenia, Europe, and USA, including 3 graduates of Harvard Business School. Members of AICA serve on Boards of Multinational Companies and run VC funds; They are Serial Entreprenuers with multiple successful companies under their belts and Top-Notch experts in Management, International and US Law, International Marketing, Sales and Distribution; They invest as Angels in companies with high growth potential and guide them through the exciting but challenging path to success; They open doors to New Markets and Clients and dedicate their Networks, Connections, and most importantly Knowledge, Experience, and Time to help companies Beat the Market Odds.

Danmarks Eksport- og Investeringsfond (EIFO) is Denmark's national promotional bank and official export credit agency, serving as a unified financial institution dedicated to supporting Danish businesses. EIFO offers -bearing financing solutions to foster innovation, growth, and international expansion for Danish companies. Their services include loan financing, equity investments, financing for foreign buyers, and insurance for international transactions. EIFO is committed to promoting sustainable and responsible growth, aligning with global green transition efforts. They provide a range of tools and resources, such as country assessments and premium calculators, to assist businesses in their international endeavors. Additionally, EIFO emphasizes ESG considerations in their operations, reflecting their dedication to societal responsibility.

IPSA is a private equity and venture capital firm specializing in seed, startup, early-stage, mid venture, later stage, growth capital, and pre-IPO investments. The firm prefers to invest in life sciences, Internet, telecommunications, biotechnology, medical, energy, chemistry, information and communications technology, water purification, natural resources, cleantech, capital goods, and distribution sectors. In life science sector it further invests in clinical-stage drug development, medical devices, drug delivery, and development services. In information and communications technology sector the firm invests with a focus in content, software, enabling technology, and infrastructure. In natural resources sector it invests further in exploration and production and renewable energy and clean technology. The firm seeks to invest in companies based in European Union with a focus on France, the U.K., Germany, the Netherlands, and Denmark and it also invest occasionally in companies based in North America. It seeks to invest in the first instance between €1 million ($1.33 million) and €5 million ($6.68 million) for a minority stake in the company. It seeks to invest in companies with revenues between €10 million ($13.37 million) and €100 million ($133.73 million). The firm prefers to be the lead or a co-lead investor in its portfolio companies. It seeks to hold a board seat in its portfolio companies. The firm exits from its portfolio companies through an IPO or trade sale within five years. The firm was formerly known as Innoven Partenaires S.A. IPSA was founded in 1997 and is based in Paris, France.

FinTech Collective, formerly known as Upfin, is a specialized early-stage fintech investor based in Copenhagen, Denmark. The firm focuses on investing in innovative financial technology startups, providing them with the necessary resources and expertise to scale and succeed in the competitive fintech landscape. Their investment philosophy centers on identifying and nurturing groundbreaking solutions that have the potential to transform the financial services industry. By leveraging their deep industry knowledge and extensive network, FinTech Collective aims to empower entrepreneurs to bring their visionary ideas to life and drive meaningful change in the financial sector.

We’re a venture capital firm partnering at (pre)seed stage with entrepreneurs in France, Denmark & Sweden. We’re currently investing out of our first €75m fund, which was launched at the beginning of 2023. Our investors include the Danish sovereign fund (Vaekstfonden), Edenred (a French Euronext-listed corporation), several prestigious European family offices and 70+ French & Nordic Tech entrepreneurs (including the founders of 3shape, Akeneo, Botify, Dixa, Falcon, Kantox, Peakon, PeopleDoc, Planday, Pleo, Qonto, Silae, Spendesk, Swile, Tiller, Zendesk, etc.).

Kompas VC is an early-stage venture capital firm founded in 2021, headquartered in Copenhagen, Denmark. The firm specializes in investing in sectors such as prop tech, construction tech, climate tech, Industry 4.0, and enterprise software. With a fund size of $160 million, Kompas VC focuses on late Seed and Series A technology companies across Europe, Israel, and the United States. The firm's investment strategy centers on supporting ambitious founders who develop technologies to transform buildings into more sustainable and healthy spaces, reduce the environmental impact of the construction and manufacturing industries, and enhance organizational operations through digital technology and automation. Kompas VC has offices in Amsterdam, Berlin, Copenhagen, and Tel Aviv, and has completed 17 investments to date.

FLSmidth is the leading supplier of engineering, equipment and service solutions to customers in mining and cement industries. With more than 135 years of experience and with activities in more than 100 countries worldwide, FLSmidth is productivity provider no. 1 to its customers. Sharing our customers’ ambitions, we bring better solutions to light by improving their safety standards and enhancing their performance.

We are a startup studio. Together with exceptional entrepreneurs, we build companies from scratch and scale them as independent companies when they gain traction. Whether it’s a bank for freelancers, a way to kill the pain of doing expenses or reimagining life in cities, we are always on the lookout for opportunities to improve the way people work and live.

Since 2018 we have produced several unique reports about the Nordic impact business and investing market for Danske Bank and other partners. We are matching global investors with impact companies based on business criteria. We have all the needed business and impact data about the companies – and tools to help investors to analyze and benchmark the most promising impact companies of our times.

CapitalT is a Venture Capital firm specializing in seed, startups and early stage investments. The firm prefers to invest in artificial intelligence, software technology companies with a primary focus on climatetech and the future of work and building scalable solutions to urgent challenges from decarbonization to the transformation of work. The firm prefers to invest in companies based in Netherlands, United Kingdom, Sweden, Norway, Denmark, Finland and Germany. The firm seeks to invest between €0.25 million ($0.28 million) and €3 million ($3.41 million) in companies. CapitalT was founded in2020 and based in Amsterdam, Netherlands.

Genua is a long-term active owner that invests in Danish small and medium-sized industrial enterprises (SMEs). They typically act as a majority shareholder but also engage in partnerships, focusing on creating growth and value through close collaboration with management and boards.

Heartland is a holding company representing the interests of the Holch Povlsen family and their family business, BESTSELLER. Founded on the family's values, Heartland emphasizes respect for people, the environment, and society. The company is committed to long-term partnerships, valuing hard work, trust, and mutual respect. Their investment approach focuses on building partnerships and growing businesses, with a responsible long-term investment view that has consistently delivered improved results. Heartland's diverse portfolio includes investments in fashion, retail, technology, sustainability, business innovation, renewables, nature conservation, education, and properties. BESTSELLER serves as their core business, and they are also involved in companies such as Zalando, ASOS, About You, Klarna, WhiteAway, Astarri, Normal, and Nemlig. Additionally, Heartland has a history of supporting innovative startups.

Inventure is an early-stage venture capital firm based in Helsinki, Finland, specializing in backing ambitious Nordic and Baltic founders. Since its inception in 2005, Inventure has supported over 100 teams across various sectors, including deep tech, consumer internet, health tech, AI, and B2B SaaS. Notable portfolio companies include Wolt, Swappie, Stravito, and Jobbatical. The firm focuses on Seed and Series A investments, with typical ticket sizes ranging from €300,000 to €5 million, and a sweet spot of €1-3 million. As of 2022, Inventure manages €377 million in assets. ( The team is known for its hands-on approach, providing not only capital but also strategic support to help founders navigate challenges and scale their businesses.

Rockstart is a global accelerator-VC that empowers purpose-driven founders on their way to success across three domains: Energy, AgriFood, and Emerging Technologies.Since its inception in 2011, Rockstart has invested in more than 250 startups and its alumni value to date is €1/2bn. Rockstart is an international team of +35 professionals dedicated to empowering purpose-driven founders to become scalable and change the world for the better. Rockstart has notable exits such as Wercker, Bouw7, iClinic and in 2021 3D Hubs and Brincr. The company has offices in Amsterdam, The Netherlands, Copenhagen, Denmark and Bogota, Colombia.

volvér.vc is an early-stage venture capital firm based in Copenhagen, Denmark, founded in 2020. The firm specializes in investing in B2B technology-enabled companies, focusing on hardware, software, pharma, deep tech, and prop tech sectors. They prefer to be the first established investor, typically before or at the pre-seed round, and take a hands-on approach following a proven playbook and business development toolkit, enabling startups to focus on the core business.

Accelerace is a leading pre-seed investor and startup accelerator based in the Nordics, established in 2008. Since its inception, Accelerace has been the first stop for over 1,000 founders, university students, C-level executives, and first-time entrepreneurs, many of whom now lead some of Europe's most promising startups and scale-ups. The firm specializes in investing in Nordic and Baltic pre-seed stage startups and offers a lifelong founders community called Accelerace Allstars. This community connects founders with successful alumni mentors who have built companies that have been publicly listed, acquired by industry leaders, and raised significant capital. Accelerace also co-manages several accelerator and mentoring programs across Europe for startups in various industries and stages, providing education, knowledge, and tools to guide entrepreneurs through their startup journey.

Dreamcraft Ventures is a Copenhagen-based venture capital firm founded in 2019 by Jesper Søgaard and Christian Kirk Rasmussen. The firm specializes in investing in tech-driven companies across Europe, from pre-seed to Series A stages. Dreamcraft Ventures focuses on three core verticals: B2B SaaS, Digital Entertainment, and FinTech. Their investment approach, termed 'venture engineering,' emphasizes a structured and reliable process to support founders in scaling their businesses. The firm has a track record of investing in 31 companies with a combined market capitalization of €1.8 billion. Notable portfolio companies include Hiber, AirHelp, NeoKe, and GRID.

KIRKBI is the holding and investment company of the Kirk Kristiansen family, owners of the LEGO Group. It manages a portfolio of financial investments and businesses focused on building a better future for children and the planet.

Fiftyfive Capital (formerly Nordic Eye) is an international growth capital firm based in Copenhagen. They focus on growth-stage technology and lifestyle companies, offering both direct growth investments and a secondary liquidity fund for European tech companies.

Rainmaking was founded in 2007 by a small group of entrepreneurs. We came together to use our experience to build impactful businesses. In the years that followed, we founded Startupbootcamp, one of the world’s most successful accelerators, to help other founders grow.

Seven2 sas is a private equity firm specializing in middle markets, later stage, carve-outs of business divisions from French or multinational corporations, public to private operations (PtoPs), and leveraged buyout in mid-caps and small and medium-sized companies. It seeks to invest in technologies, telecom, retail and consumer, media, healthcare, and business and financial services sectors. In information technology sector the firm focuses on high-tech goods and services, software technologies, hardware, emerging application segments, and services based on the mastery of new technologies. In specialized retail and consumer, it typically invests in home appliances, household goods and services, specialty retail chains, personal equipment, direct retail and e-commerce, business to business distribution, and consumer goods. In the media sector the firm seeks to invest in professional and technical publishing, broadcasting, business to business publishing, business, scientific and technical information, marketing, research, and design service companies, traditional and online, media agencies, rights, premium content and the supply of Internet content. It seeks to make investments in the telecommunications sector in segments including infrastructure and services, telecom operators, cable operators and technology companies, voice-data-video convergence, and development of new mobile services. The firm also invests in business and financial services in outsourced services focusing on financial services, business process outsourcing, services related to energy and environment. It makes investments in healthcare sectors with a focus on medical devices and services companies including private sector hospital treatment focusing on therapy of new medications or new forms for administering drugs, pharmaceutical laboratories, medical equipment, dermo-cosmetics, galenic development, and services and databases for health organizations, and health services including hospitalization structures, home health care, and medical analysis. The firm seeks to invest in companies based in French-speaking countries including France and Europe. It also invests in Turkey, Australia, Japan, South Korea, New Zealand, North Korea, Austria, Belgium, Denmark, Finland, Germany, Greece, Iceland, Italy, Belgium, Luxembourg, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, United Kingdom, Czech Republic, Hungary, Poland, Slovakia, Mexico, Chile, United States and Canada. It prefers to invest in equity investment between €3.47 million ($3.79 million) and €250 million ($273.2 million) in Mid-Market €50 million ($54.65 million) and €250 million ($273.2 million) and Development: €15 million ($16.40 million) and €50 million ($54.65 million) with sales value between $13.34 million and $2732.9 million and enterprise value between $10.88 million and $1113.52 million. The firm may co-invest with others. It seeks to acquire majority or significant minority stakes and a board seat in its portfolio companies. It prefers minority position if the transaction is based on a genuine partnership with the management team, which confers them certain rights. The firm typically invests for a period of five to seven years on average. It seeks to exit its investments through trade sales, IPOs, secondary buyouts, as well as partial sales, and recaps. Seven2 sas was founded in 1972 and is based in Paris, France with additional offices in Europe.

SLS Invest is a venture capital firm specializing in growth and expansion investments in small and mid-sized companies. The firm also considers private equity deals in non-listed companies. It seeks to make investments in the life science sector with a focus on medtech and biotech tools. The firm typically invests in the Scandinavian region with focus on Sweden and Denmark. It prefers to invest SEK 30 million ($4.37 million) and SEK100 million ($14.58 million), with a follow-on reserve of 150 percent of initial investment. The firm considers taking an equity stake between 15 percent and 35 percent in its portfolio companies. It prefers being the lead investor and holds new investments for long term. The firm holds its investments for a period of three to five years. It prefers to exit its investments through a trade sale or IPO. It makes balance sheet investments. SLS Invest was founded in 2007 and is based in Stockholm, Sweden. It operates as a subsidiary of Sjätte AP-Fonden.