The fund is, as the name suggest, focused on being backed by founders. This is an impressive list, with founders behind local successes like Zendesk, Unity, Tradeshift, Sitecore and Vivino being a part of it. But also founders from across the nordics, with successes such as Skype and Kahoot. And the idea is to leverage those founders as well for the startups that will be invested in:

“byFounders provides early-stage founders with unrivalled access to knowledge, expertise and insight from some of the most successful Nordic entrepreneurs. The support and operational guidance available from such a broad group is unique, and has the potential to play a major factor in the success of the next generation of startups from the region.” says Morten Primdahl, Co-Founder of Zendesk, about the process

The idea is to help out with what is needed for further growth. That can be scaling, introductions, referrals, recruiting, global expansion or raising further funding rounds. Portfolio startups are supposed to always find the advice they need in the 50-strong and growing ‘Collective’.

“byFounders Collective allows me to take part in shaping the founders of the future and highlighting the innovative and un-traditional companies that dare to think different and proves that the way to success doesn’t have to include a basement or a White Party.” says Frederikke Schmidt, founder of Roccamore

The fund will invest in a different range of startups. The strategy for investing has so far been a “7 T:s” approach: Team, TAM, Traction, Tech, Transformation, Timing, 10x.

However, raising a lot of money for investing in startups is not the easiest process.

“Having been through a challenging, exciting, at times gruelling and at the end very successful fundraising period, we can now proudly announce that we have managed to reach our goal of raising a € 100 million fund. For a first-time fund, this is exceptional.” Ida Åsle says about the process.

byFounders will be very important for our region, being a major VC player located here, that can compete with the other big Nordic funds such as Creandum and Northzone, based in Stockholm. An important player in the Greater Copenhagen eco-system for sure, but also strengthening the Nordics in total.

“It’s natural for every tech ecosystem to compare itself to Silicon Valley but the Nordics have established itself as a true birthplace for unicorns. The region can and will compete with any other place in the world when it comes to fostering and growing companies, and I believe the opportunity for large exits will only increase over time.” says Tommy Andersen who together with Eric Lagier started the fund.

byFounders has already invested in 11 startups: Corti, Peergrade, Simple Feast, Cobalt, Spiio, SafetyWing, Drugstars, Omnio, Qurasense, Tame, and Uizard.

You can read more about the process from byFounders directly, or at TechCrunch and Tech.eu as well.

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DrugStars founder, Claus Møldrup, since childhood wanted to be a pharmacist and the youngest Danish professor ever. Well, that did not happen, as he became the second youngest professor. However, Claus Møldrup managed to succeed both as a professor of medicine at Copenhagen University and as a director of a US-based pharmaceutical company  with 28,000 employees worldwide. In 2016, he decided that it was a right time to pursue his third career and he founded a patient movement DrugStars.

How does it work?

DrugStars is an app that rewards patients with ‘stars’ for taking their medication. Later users can exchange these stars for donations, sponsored by pharmaceutical companies to various patient organizations. However, pharmaceutical companies have no influence over who gets the donations – the system works independently.

“The idea is that DrugStars on the one hand will stimulate patients to take their prescribed medications, and White Sands Naples Fl ensures that the patients feel better because they do not skip the prescription or overdose on it. On the other hand, through stimulating patients to take medicine properly, the company will save the resources for charity. With 1 million users worldwide, DrugStars could generate 70 million kroner (9.5 million euro) to charity”, says Claus Møldrup.

The fact that patients do not take their medicine represents a major problem in the global health system. The problem is extremely serious as in 60% cases patients do not take prescribed medicine. Which, unfortunately leads to unwanted side effects, additional doctor and emergency room visits and hospitalizations. According to Pharmaceutical Association and PWC, these side effects cost around 1.5 billion kroner (200 million euro) to Danish health system annually. In this connection, DrugStar is a new tool that can help improve the situation.

“DrugStars is a unique project aimed to create value for patients, patient associations and business. Thus, it has all the chances to become a huge success.” says Anders Kjær, Investment Manager at SEED Capital.

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