Seed Capital is building a new tech fund for Denmark. The have announced that € 67 million has been raised with pledges from among others Chr. Augustinus Fabrikker, Dansk Vækstkapital & Preben Damgaard. The aim is of raising a total of € 135 million.
Seed Capital has built a unique position in Denmark as a successful seed stage investor with a team that has backed a lot of the local tech startups such as Trustpilot, Vivino and Templafy. The strong performance from previous funds has convinced limited partners to invest in the new fund.
“We are pleased to have received backing to a new fund from our existing investors and a strong network of serial entrepreneurs. We are also grateful that so many talented entrepreneurs choose us as their investor and partner. A prerequisite for us to be able to attract funds is that we have the best entrepreneurs in our portfolio, with whom we can build great companies and generate return for our investors” Says Ulla Brockenhuus-Schack, Managing Partner at Seed Capital
The Seed team has been extended with Peter Egehoved as a new General Partner joining the team lead by managing partner Ulla Brockenhuus-Schack with Lars Andersen and Niels Vejrup Carlsen as continuing GPs. All are top-level businesspeople with more than 10 years’ experience building companies and unique venture capital experience from managing SEED Funds 1-3 over the last 15 years.
“The Danish tech startup scene has matured with many experienced and ambitious serial entrepreneurs. We have finetuned our investment strategy accordingly and now focus entirely on strong entrepreneurs in the technology space based in Denmark, who have a proven product market fit and good commercial traction.” Says Ulla Brockenhuus-Schack.
The number of active early stage funds in the Danish market is scarce and has not increased the last couple of years. This leaves Seed Capital in a significant position within the seed segment. Over the years, the venture fund has built a strong network and relationship with world-class international syndication partners, who they can collaborate with in some of the fundings.