Danish fundraising rewards founders who pair breakthrough solutions with ruthless execution—and the best investors bring Nordic relationships, public–private leverage, and sector expertise, not just capital. Here's the definitive, founder-first guide to who's truly active in Denmark, how to pick the right partner, and how to pitch so you get to "yes."

1) How to pick the right Danish investors (quick & founder-first)

Align motion, not logo.
- Day-zero / seed company-builders: PreSeed Ventures (PSV), byFounders, Icebreaker-style peers via Antler DK. (psv.xyz)
- B2B SaaS & data: SEED Capital, Scale Capital, Dreamcraft, Vendep (non-DK but active in Nordics). (seedcapital.dk)
- Consumer & product: Heartcore (ex-Sunstone tech), People Ventures. (heartcore.com)
- Deep tech & life science: Novo Holdings (Seed/Venture), Sunstone Life Science Ventures, BII (convertible programs), 2150 (urban/climate). (Novo Holdings)
Screen for fresh conviction. Favour firms that raised or expanded vehicles in 2024–25 (e.g., SEED Capital V, byFounders Fund III, Dreamcraft Fund II). (plesner.com)
Stack Denmark's public edge. EIFO (equity/loans, direct investing) + BII and Novo programs can extend runway without ugly dilution. (eifo.dk)
Lead with boring, beautiful math. Activation → 30/60/90 retention, CAC payback by channel, and a 12–18-month milestone ladder tied to this raise.
Ask for leverage beyond the check. Distribution into Nordics/EU, clinical/regulatory support, and US entry help (Scale Capital is explicit here). (scalecapital.com)

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2) The investors (what they do, why founders pick them, how to approach)

For each firm: Center, Stage & typical ticket (indicative), Why them, They scrutinize, How to approach. Citations back up focus, activity, or program details.

1) SEED Capital (Copenhagen)

Center: Denmark's flagship early-stage fund across consumer, fintech, enterprise & deep tech; raised ~€140m for next fund and Fund V first close DKK 500m (May 2025). (seedcapital.dk)

Stage & ticket: Seed → A; leads and follows.

Why them: High seed→A conversion and strong local signaling. (seedcapital.dk)

They scrutinize: Clear wedge, fast learning velocity, and path to category.

Approach: One slide on cohorts & expansion + names of two follow-on targets.

2) byFounders (Copenhagen, pan-Nordic)

Center: Community-powered pre-seed/seed fund backed by Nordic/Baltic founders; Fund III launched 2025 with typical first checks €0.5–4m. (Mazanti)

Stage & ticket: Pre-seed/Seed, follow-on capacity.

Why them: Collective of top operators for hiring, GTM, and US/EU intros. (byfounders.vc)

They scrutinize: Founder-problem fit and early retention by use case.

Approach: Show design-partner letters and a 6-month experiment stack.

3) PreSeed Ventures (PSV) (Lyngby/Copenhagen)

Center: Denmark's original pre-seed specialist; PSV Tech01 launched with DKK 265m first close; deep track record (Trustpilot, Vivino, Lunar). (psv.xyz)

Stage & ticket: Pre-seed/Seed; very hands-on via PSV Lab & Academy. (psv.xyz)

Why them: Day-zero craft + strong syndication with local co-investors.

They scrutinize: Weekly activation, TAM realism, and disciplined spend.

Approach: Bring a 90-day build/ship cadence and KPI ladder to seed.

4) Heartcore Capital (Copenhagen/Paris/Berlin/Stockholm)

Center: Consumer & product-led tech; closed a $180m fund in late 2024 with broadened thesis (incl. infra/biotech-adjacent bets). (TechCrunch)

Stage & ticket: Seed/A; leads, follows.

Why them: Brand for product feel + Europe-wide dealcraft. (heartcore.com)

They scrutinize: Habit loops, NPS, and scalable unit economics.

Approach: Ship behavioral-loop data (not vanity MAUs) and payback by channel.

5) Dreamcraft Ventures (Copenhagen)

Center: B2B software at pre-seed/seed; Fund II €66m closed in 2024. (EU-Startups)

Stage & ticket: Often leads with concentrated ownership.

Why them: Operator-heavy team; crisp B2B pattern recognition. (Tech Funding News)

They scrutinize: ICP clarity and expansion inside two lighthouse logos.

Approach: Bottoms-up model with 3 pricing experiments and 12-month NRR plan.

6) People Ventures (Copenhagen)

Center: Early-stage across digital health & enterprise software; active through 2025. (people.ventures)

Stage & ticket: Pre-seed/Seed to A.

Why them: Hands-on recruiting, go-to-market help, and pragmatic follow-on.

They scrutinize: Clinical/regulated readiness (health) and buyer economics.

Approach: Security/compliance posture + first 3 customer expansions.

7) Scale Capital (Copenhagen & Silicon Valley)

Center: B2B tech with a US-go-to-market specialty; typical €1–3m initial tickets at Seed/Series A. (scalecapital.com)

Stage & ticket: Seed/A; leads and syndicates.

Why them: Playbook for Nordic→US entry; deep operator bench. (scalecapital.com)

They scrutinize: Sales velocity, sales engineering capacity, and procurement friction.

Approach: A US pipeline hypothesis (personas, partners, ramp) with milestones.

8) Maersk Growth (Copenhagen, CVC)

Center: Corporate VC of A.P. Møller-Maersk; supply chain, logistics & decarbonization; 40+ partnerships since 2017. (Maersk)

Stage & ticket: Seed → growth; strategic co-builds and venture-clienting.

Why them: Access to global shippers and decarb pilots.

They scrutinize: Tangible value to Maersk network & customers.

Approach: Pilot storyboard (site, KPI, savings/CO₂ impact) and security posture.

9) Novo Holdings — Seed & Venture Investments (Copenhagen)

Center: Denmark's life-science heavyweight; Seed Investments builds biotech from research; Venture Investments backs later stages; expanding into quantum-enabled domains. (Novo Holdings)

Stage & ticket: Seed (company creation) → late venture.

Why them: Deep technical diligence, syndication power, and long horizon.

They scrutinize: IP/FTO, clinical plan, and manufacturability.

Approach: Regulatory & trial design slide + named KOLs and partners.

10) BioInnovation Institute (BII) (Copenhagen)

Center: Non-profit venture builder for life sciences/planetary health/quantum; Venture Lab offers ~~DKK 4.2m (~~€0.55m) convertible; Venture House follow-on €1.3m. (bii.dk)

Stage & ticket: Acceleration + follow-on; infrastructure & advisors included. (bii.dk)

Why them: Lab access + founder-friendly capital that unlocks later VC.

They scrutinize: Translational plan and fundability post-program.

Approach: Milestone table (scientific + commercial) and target syndicate.

11) 2150 (Urban Partners) (Copenhagen/London)

Center: Climate/urban tech ("constructive capital"); investing from new vehicles focused on city-scale decarbonization. (2150.vc)

Stage & ticket: Seed → growth (select).

Why them: Industrial/real-asset relationships plus policy literacy.

They scrutinize: Gigaton-scale potential, LCA rigor, and customer pull.

Approach: Decarbonization math (cost curve) + path to industrial pilots.

12) EIFO — Export & Investment Fund of Denmark (national, direct investor)

Center: Denmark's state investment arm providing equity and loans; active reports and new vehicles (e.g., €300m quantum fund with Novo). (eifo.dk)

Stage & ticket: Co-investor at seed→growth; can anchor thematic funds.

Why them: Extends runway and crowds-in private capital; strong signaling.

They scrutinize: Private lead terms, Danish footprint, and export potential.

Approach: Arrive with a committed private lead & clear use-of-proceeds.

13) Sunstone Life Science Ventures (Copenhagen)

Center: Specialist life-science VC backing therapeutics & medtech across Europe. (Private Equity List)

Stage & ticket: Typically A/B and beyond (multi-€m). (PitchBook)

Why them: Deep clinical diligence + pharma partnerships.

They scrutinize: In-vivo data, MOA, and clinical/reg path. (Private Equity List)

Approach: Value-inflection plan (IND/Phase milestones) and CMC timeline.

14) Nordic Alpha Partners (NAP) (Copenhagen)

Center: Industrial greentech/growth with ~€400m AUM; scale-up value-creation toolkit. (nordicalpha.com)

Stage & ticket: A–growth; operationally hands-on.

Why them: Manufacturing/industrial know-how and scale discipline.

They scrutinize: Capex profile, unit economics at scale, and supply chain.

Approach: Factory ramp plan (OEE, yields, gross margin path).

15) Antler Denmark (Copenhagen)

Center: Day-zero global VC with a founder residency in Denmark; invests during/after program. (Antler)

Stage & ticket: Pre-seed; fast first checks out of the residency.

Why them: Team formation + immediate pre-seed capital + mentor bench.

They scrutinize: Founder velocity and early problem proof.

Approach: Apply with customer interviews, mockups, and a 12-week ship plan.

3) Five quick tips for pitching Danish investors (that actually land)

Pilot math on one slide. Who's piloting, the KPI (time-to-value, NRR, CO₂/€ saved), and exactly how pilot → multi-site/paid expansion.
Stack non-dilutive + strategic. Map how EIFO (equity/loans) and BII (convertibles) extend runway and de-risk milestones before a priced round. (eifo.dk)
Come enterprise-ready. DPA/GDPR, SSO/SCIM, procurement Gantt, and a named security owner—shortens cycles with Nordic corporates (and Maersk Growth). (Maersk)
De-risk the next round. "This raise buys: (a) 3 design-partner expansions, (b) SOC2/CE or IND step, (c) €X MRR at Y% NRR," plus 2 likely follow-on leads.
Keep your data room boring (that's a compliment). Clean index, cap table, IP/FTO, customer letters, cohort analysis, and a milestone-indexed budget. Use Peony to organize your startup data room and track investor engagement.

Final Thoughts

Danish fundraising in 2025 requires precision, preparation, and professional presentation. The investors listed above are actively deploying capital, but they expect founders to come prepared with clear proof points, realistic milestones, and evidence of Nordic traction.

Danish investors evaluate not just your technology, but your ability to leverage the public–private ecosystem, navigate EU regulations, and demonstrate scalable unit economics. Organize your startup data room, track investor engagement, and demonstrate operational maturity from day one.

Get started with Peony for your Danish fundraising — secure data rooms built for startups raising capital.

Impress Investors

Top 15 Active Investors in Denmark 2025: Leading Danish VCs and How to Pitch Them