Copenhagen-based venture capital firm Seed Capital has closed its fifth fund at €130 million to back seed-stage startups across the Nordics, as it expands its investment strategy beyond Denmark.
- Founded more than 20 years ago, Seed Capital has backed companies including Trustpilot, Lunar, VEO, Templafy, and Flatpay, which became Denmark’s fastest unicorn to date.
- The new fund will invest in 15 to 17 companies with initial checks of €3 to €6 million. It will focus on fintech, AI-driven B2B, cybersecurity, and resilience, with Sweden identified as a key market for the firm’s Nordic expansion.
- With Fund V, the firm is broadening its geographic focus from Denmark to the wider Nordic region. The firm is also evaluating opening an office in Sweden to strengthen its local presence and maintain close relationships with founders.
- The new fund is backed by Realdania, EIFO, Dansk Vækst Kapital, Sampension, Lauritzen Fonden, Augustinus Fonden, family offices, and angel investors.
- Seed Capital has already deployed capital from Fund V into startups including Norlix, Blackbird Coffee, Fortiv, Moxso, Pluto Markets, Cernel, Repodo, and Oplane.
- The new fund will be managed by Managing Partner Christian Brøndum, General Partner Geeta Schmidt, and Lars Andersen, who has served as a general partner across all five of Seed Capital’s funds.
- The firm plans to use its Nordic expansion to identify and support founders building companies with global ambitions, particularly across its four focus areas.
