# Heartcore Capital: portfolio, investments and team

> Heartcore Capital is a vc firm based in Denmark. 80 investments on record, 8 in the last 12 months, latest Oct 2026. Portfolio, stages, co-investors and team.

Source: https://millionrounds.com/fund/heartcore-capital (Millionrounds; every figure on the page links to its filing or article)

Denmark · [Investor](https://millionrounds.com/investors)

# Heartcore Capital

Last cheque observed Oct 2026; 80 cheques on record.

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Deploying now New fund $180M, Dec 2024 VC firm

Pre-seed B2B B2C Small And Medium Businesses

Follow Heartcore Capital and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Fheartcore-capital)

Deploying now

**42%** of best year **8** **cheques in 12 months**, 80 on record

Since the last cheque **5** days **00** hrs **00** min **00** sec

Median round **$9.4M** Cheque size, as they say **$100K – $5.0M** Rounds led **1 of 80** Sole investor **7 rounds** Exits **1 from the portfolio** Mostly in **France, 23%**

Pitch Heartcore Capital

## Heartcore Capital highlights

- 01 8 cheques in the last 12 months
- 02 Mostly Seed and Series A: 55% of its rounds
- 03 Sole investor in 7 rounds, median $2.7M
- 04 1 exits from the portfolio

## What they do

> Heartcore Capital backs European founders of genius and courage from inception. From their own website

- **Type:** VC firm (from a list, unverified)
- **Cheque size:** $100K – $5.0M as they say
- **Stages:** Pre-seed
- **Sectors:** B2B B2C Small And Medium Businesses
- **Based in:** Copenhagen, Denmark
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **80 appearances**

- **2026** 7 rounds
- **Oct** **[Nous](https://millionrounds.com/company/nous)** Series A · GB · Tech.eu **$17M** With 4 others
- **Sept** **[Nūmi](https://millionrounds.com/company/numi)** Grant · FR **$4.3M** With 3 others
- **Jul** **[Fora](https://millionrounds.com/company/fora)** Series D · US · TechCrunch **$60M** With 8 others
- **May** **[Davis AI](https://millionrounds.com/company/davis-ai)** Pre-seed · FR **$5.5M** With 2 others
- **Mar** **[EGIDE](https://millionrounds.com/company/egide)** Seed · SG **$9.2M** With 2 others
- **Feb** **[Capalo AI](https://millionrounds.com/company/capalo-ai)** Series A · FI **$13M** With 2 others
- **Jan** **[Luca](https://millionrounds.com/company/luca)** Series A · MX · LatamList **$8.0M** With 3 others
- **2025** 16 rounds
- **Nov** **[Spinnable AI](https://millionrounds.com/company/spinnable-ai)** Pre-seed · US **$2.3M** Sole investor
- **Oct** **[375ai](https://millionrounds.com/company/375ai)** Ventureburn **$10M** With 7 others
- **Oct** **[IsentroniQ](https://millionrounds.com/company/isentroniq)** Pre-seed · FR **$8.7M** With 4 others
- **Oct** **[375ai](https://millionrounds.com/company/375ai)** Venture · US **$5.0M** With 3 others
- **Sept** **[La Fourche](https://millionrounds.com/company/la-fourche)** Series C · FR **$37M** With 3 others
- **Sept** **[Zefir](https://millionrounds.com/company/zefir)** Series B · FR **$18M** With 3 others
- **Jul** **[Roadsurfer](https://millionrounds.com/company/roadsurfer)** Debt · DE **$29M** With 1 other
- **Jun** **[Skynopy](https://millionrounds.com/company/skynopy)** Venture · FR **$18M** With 4 others
- **Jun** **[Veda](https://millionrounds.com/company/veda)** Series A · US **$18M** With 3 others
- **Apr** **[IXI](https://millionrounds.com/company/ixi)** Series A · FI · TechCrunch **$37M** With 8 others
- **Apr** **[Kind Batch](https://millionrounds.com/company/kind-batch)** Seed · US **$3.7M** With 1 other
- **Mar** **[Arcium](https://millionrounds.com/company/arcium)** Pre-seed · CH **$2.0M** With 5 others
- **Mar** **[PhaseTree](https://millionrounds.com/company/phasetree)** Seed · DK **$3.2M** Sole investor
- **Feb** **[FINN](https://millionrounds.com/company/finn)** Debt · DE · Avellinia Capital **$1.0B** With 6 others
- **Jan** **[Orbex Space](https://millionrounds.com/company/orbex-space)** Series D · GB · TechStartups **$29M** With 3 others
- **Jan** **[Natural Cycles](https://millionrounds.com/company/natural-cycles)** Venture · SE **$2.6M** With 4 others
- **2024** 15 rounds
- **Dec** **[Lovys](https://millionrounds.com/company/lovys)** Crowdfunding · FR **$906K** With 4 others
- **Dec** **[Superform Labs](https://millionrounds.com/company/superform-labs)** Venture · US **$3.0M** With 3 others
- **Nov** **[luca](https://millionrounds.com/company/luca)** Seed · DE **$2.0M** Sole investor
- **Nov** **[Barter](https://millionrounds.com/company/barter)** Seed · CL **$3.0M** With 2 others
- **Aug** **[VOID](https://millionrounds.com/company/void)** Series A · US **$11M** With 5 others
- **Aug** **[Rhinestone](https://millionrounds.com/company/rhinestone)** Seed · GB **$5.0M** Sole investor
- **Jul** **[Byway Travel](https://millionrounds.com/company/byway-travel)** Series A · GB **$6.4M** With 2 others
- **May** **[MAJORITY](https://millionrounds.com/company/majority)** Series B · SE **$13M** With 1 other
- **May** **[Fast Travel Games](https://millionrounds.com/company/fast-travel-games)** Venture · SE **Undisclosed** With 1 other
- **May** **[Hylé](https://millionrounds.com/company/hyle)** Seed · FR **$2.6M** With 3 others
- **May** **[MAJORITY](https://millionrounds.com/company/majority)** Series B · SE **$29M** With 1 other
- **Apr** **[zolar](https://millionrounds.com/company/zolar)** Debt · DE **$109M** With 4 others
- **Apr** **[FlexAI](https://millionrounds.com/company/flexai)** Seed · FR **$31M** With 3 others
- **Apr** **[Kontakt.io](https://millionrounds.com/company/kontakt-io)** Series C · US **$48M** With 4 others
- **Jan** **[CarbonPool](https://millionrounds.com/company/carbonpool)** Seed · CH **$12M** With 1 other
- **2023** 11 rounds
- **Dec** **[Quesma](https://millionrounds.com/company/quesma)** Pre-seed · PL **$2.3M** Sole investor
- **Dec** **[Podimo](https://millionrounds.com/company/podimo)** Venture · DK **$48M** With 4 others

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

## The team

We hold **25** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

## What the register says

From the firm's own filings with the SEC, which it must file accurately by law

**3+** funds on file numbered funds in its name

Who backs their funds

## 1 LP on record in Heartcore Capital's funds

- **Funds:** 1

The institutions that put money into its funds, which the firm then invests in companies. Source: fund news.

- [**Industriens Pension** 1 fund](https://millionrounds.com/fund/industriens-pension) Fund Vintage Committed Heartcore Capital Fund V - -

## What they claim to have backed

From their own portfolio page (on their website)

**10** of 22 we have independently watched raise

[Capaloai](https://millionrounds.com/company/capalo-ai)[Carbonpool](https://millionrounds.com/company/carbonpool)[Flex](https://millionrounds.com/company/flex)[Isentroniq](https://millionrounds.com/company/isentroniq)[Kive](https://millionrounds.com/company/kive)[Numi](https://millionrounds.com/company/numi-2)[Phasetree](https://millionrounds.com/company/phasetree)[Quesma](https://millionrounds.com/company/quesma)[Skynopy](https://millionrounds.com/company/skynopy)[Sunbeam](https://millionrounds.com/company/sunbeam) Axana Byway Cula Egide-tech Ionlace Lucaedu Meetdavis Pixieray Qlub Qualiastudios Spinnable Voyfai

Weaker than a round we watched, stronger than a list somebody sold us. A firm is far less willing to put a company on its own site that it never funded.

## Exits from the portfolio

Companies it backed that were later bought or listed **1 in all**

**[Amen.](https://millionrounds.com/company/amen)** Bought by Tape TV **Undisclosed** Aug 2013

An exit counts when it came after the firm's first round in the company. From historical deal records.

New fund on file

**$180M**

raised in Dec 2024

From its SEC filing, not a journalist: a firm that has just raised has money to deploy.

## The cheque

Pre-seed

Median round joined **$9.4M** the round, not its cheque Alone, median **$2.7M**

Led 1 of 80 rounds **1%**

- **Said size:** $100K – $5.0M
- **Sole investor:** 7 rounds
- **Last cheque:** Oct 2026
- **Exits:** 1 from the portfolio

Rounds by stage said on their site

- Seed *19*
- Series A *17*
- Venture *15*
- Pre-seed said *8*
- Series B *6*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [Partech Ventures](https://millionrounds.com/fund/partech) 9
- [Bpifrance](https://millionrounds.com/fund/bpifrance) 6
- [Kima Ventures](https://millionrounds.com/fund/kima-ventures) 6
- [The Danish Growth Fund](https://millionrounds.com/fund/v-kstfonden) 5
- [Coinbase Ventures](https://millionrounds.com/fund/coinbase) 4
- [Creandum](https://millionrounds.com/fund/creandum) 4

**Pitching Heartcore Capital?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque.

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## Who they invest alongside

The investors most often in the same rounds as Heartcore Capital. A count of rooms they were both in, not a relationship either has claimed.

[**Partech Ventures** VC firm **9** rounds together](https://millionrounds.com/fund/partech)[**Bpifrance** Government **6** rounds together](https://millionrounds.com/fund/bpifrance)[**Kima Ventures** VC firm **6** rounds together](https://millionrounds.com/fund/kima-ventures)[**The Danish Growth Fund** VC firm **5** rounds together](https://millionrounds.com/fund/v-kstfonden)[**Coinbase Ventures** Corporate VC **4** rounds together](https://millionrounds.com/fund/coinbase)[**Creandum** VC firm **4** rounds together](https://millionrounds.com/fund/creandum)[**HV Capital** VC firm **4** rounds together](https://millionrounds.com/fund/hv-capital)[**Headline** VC firm **4** rounds together](https://millionrounds.com/fund/headline)[**Entrepreneur First** Accelerator **3** rounds together](https://millionrounds.com/fund/entrepreneurs-first)[**Eurazeo** Private equity **3** rounds together](https://millionrounds.com/fund/eurazeo)[**Global Founders Capital** VC firm **3** rounds together](https://millionrounds.com/fund/global-founders-capital)[**Index Ventures** VC firm **3** rounds together](https://millionrounds.com/fund/index-ventures)

## Recently backed

The latest companies Heartcore Capital put money into.

[**Nous** $17M · Oct 2026](https://millionrounds.com/company/nous)[**Nūmi** $4.3M · Sept 2026](https://millionrounds.com/company/numi)[**Davis AI** $5.5M · May 2026](https://millionrounds.com/company/davis-ai)[**EGIDE** $9.2M · Mar 2026](https://millionrounds.com/company/egide)[**Capalo AI** $13M · Feb 2026](https://millionrounds.com/company/capalo-ai)[**Spinnable AI** $2.3M · Nov 2025](https://millionrounds.com/company/spinnable-ai)

## Quick answers about Heartcore Capital

### What does Heartcore Capital invest in?

Heartcore Capital invests most often at Seed and Series A (55% of the rounds on record), in sectors such as B2B, B2C and Small And Medium Businesses.

### How active is Heartcore Capital?

80 investments on record, 8 of them in the last 12 months, and it led 1. The most recent was in Oct 2026.

### What has Heartcore Capital invested in recently?

Its most recent investments on record: Nous (Series A, Oct 2026), Nūmi (Grant, Sept 2026) and Fora (Series D, Jul 2026).

### How big are Heartcore Capital's cheques?

The median round it joins is $9.4M. It says it writes cheques of $100K to $5.0M.

### Does Heartcore Capital lead rounds?

Sometimes: it led 1 of its 80 investments on record (1%).

### Where does Heartcore Capital invest?

Most of the companies it backs are in France (23%), the United States (21%) and the United Kingdom (10%).

### Is Heartcore Capital investing now?

Yes: it is actively investing, with 8 investments in the last 12 months.

### Who does Heartcore Capital invest alongside?

Most often Partech Ventures (9 rounds together), Bpifrance (6 rounds together) and Kima Ventures (6 rounds together).

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