# The Danish Growth Fund: portfolio, investments and team

> The Danish Growth Fund is a vc firm. 132 investments on record, 10 in the last 12 months, latest Aug 2026. Portfolio, stages, co-investors and team.

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

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

# The Danish Growth Fund

Last cheque observed Aug 2026; 132 cheques on record.

Deploying now VC firm Website unconfirmed Now at eifo.dk

Venture Seed Series A Artificial Intelligence Information Technology

Deploying now

**59%** of best year **10** **cheques in 12 months**, 132 on record

Since the last cheque **81** days **00** hrs **00** min **00** sec

Median round **$3.6M** Rounds led **0 of 132** Sole investor **26 rounds** Exits **3 from the portfolio** Mostly in **Denmark, 83%**

Pitch The Danish Growth Fund

## The Danish Growth Fund highlights

- 01 10 cheques in the last 12 months
- 02 Mostly Venture and Seed: 65% of its rounds
- 03 Sole investor in 26 rounds, median $2.2M
- 04 3 exits from the portfolio

## What they do

- **Type:** VC firm (from a list, unverified)
- **Cheque size:** Not stated
- **Sectors:** Artificial Intelligence Information Technology
- **Cold pitches:** Not stated

A website was listed for this organisation, but we could not confirm it belongs to the firm that wrote these cheques. Either the site never mentions them, or it turned out to be a different company sharing the name. We show neither it nor anything read from it. [Tell us the right one](https://millionrounds.com/corrections?slug=v-kstfonden).

## The record

Every round we can evidence, newest first **132 appearances**

- **2026** 8 rounds
- **Aug** **[Factbird](https://millionrounds.com/company/factbird)** Growth · DK · Expedition Growth Capital **$16M** With 4 others
- **Jul** **[Oktogrid](https://millionrounds.com/company/oktogrid)** Venture · DK **$4.6M** With 1 other
- **Jul** **[Dawn Health](https://millionrounds.com/company/dawn-health)** Venture · US **Undisclosed** With 2 others
- **Jun** **[Barma](https://millionrounds.com/company/barma)** Venture · DK **Undisclosed** With 1 other
- **Feb** **[Dawn Health](https://millionrounds.com/company/dawn-health)** Venture · US **Undisclosed** With 1 other
- **Feb** **[Reduced](https://millionrounds.com/company/reduced)** Series A · DK **$4.7M** With 2 others
- **Feb** **[Donkey Republic](https://millionrounds.com/company/donkey-republic)** DK **$12M** With 2 others
- **Jan** **[Octarine Bio](https://millionrounds.com/company/octarine-bio)** Series A · DK **$5.9M** With 1 other
- **2025** 10 rounds
- **Nov** **[Donkey Republic](https://millionrounds.com/company/donkey-republic)** DK **$1.3M** With 2 others
- **Nov** **[Chromologics](https://millionrounds.com/company/chromologics)** Venture · DK **$8.1M** With 2 others
- **Oct** **[Legacy](https://millionrounds.com/company/legacy)** Venture · US **Undisclosed** With 1 other
- **Sept** **[Cerebriu](https://millionrounds.com/company/cerebriu)** Series A · DK **$11M** With 2 others
- **Aug** **[VentriJect](https://millionrounds.com/company/ventriject)** Venture · DK **$2.0M** With 1 other
- **Jul** **[QuadSAT](https://millionrounds.com/company/quadsat)** Series A · DK **$5.8M** With 3 others
- **Mar** **[All Gravy](https://millionrounds.com/company/all-gravy)** Seed · DK · Firms' own news pages **$2.8M** With 1 other
- **Jan** **[Morningscore](https://millionrounds.com/company/morningscore)** Venture · DK **$700K** Sole investor
- **Jan** **[Tryp.com](https://millionrounds.com/company/tryp-com)** Seed · DK · Firms' own news pages **$3.2M** With 6 others
- **Jan** **[Nordetect](https://millionrounds.com/company/nordetect)** US **$585K** With 4 others
- **2024** 15 rounds
- **Dec** **[Antag Therapeutics](https://millionrounds.com/company/antag-therapeutics)** Series A · DK **$84M** With 4 others
- **Dec** **[Eupry](https://millionrounds.com/company/eupry)** Series A · DK **$24M** With 1 other
- **Nov** **[Keep IT Cool](https://millionrounds.com/company/keep-it-cool)** Series C · KE · Disrupt Africa **$50M** With 3 others
- **Oct** **[Algiecel](https://millionrounds.com/company/algiecel)** Venture · DK **$7.3M** With 2 others
- **Sept** **[BeCause](https://millionrounds.com/company/because)** Seed · DK **$557K** With 2 others
- **Sept** **[Reduced](https://millionrounds.com/company/reduced)** Series A · DK **$8.9M** With 2 others
- **Aug** **[2021.AI](https://millionrounds.com/company/2021-ai)** DK **$4.1M** Sole investor
- **Jul** **[Female Invest](https://millionrounds.com/company/female-invest)** Series A · DK **$11M** With 3 others
- **Jun** **[Viio](https://millionrounds.com/company/viio)** Venture · DK **$3.6M** With 2 others
- **May** **[Butter Payments](https://millionrounds.com/company/butter-payments)** Venture · US **$10M** With 6 others
- **Mar** **[SynergyXR](https://millionrounds.com/company/synergyxr)** Venture · DK **$2.2M** With 2 others
- **Mar** **[Meo](https://millionrounds.com/company/meo)** Venture · DK **$1.8M** With 3 others
- **Feb** **[BeCause](https://millionrounds.com/company/because)** Seed · DK **$600K** With 3 others
- **Feb** **[Go Autonomous](https://millionrounds.com/company/go-autonomous)** Series A · DK **$10M** With 4 others
- **Jan** **[Kaffe Bueno](https://millionrounds.com/company/kaffe-bueno)** Series A · DK **$6.7M** With 2 others
- **2023** 22 rounds
- **Dec** **[Blue World Technologies](https://millionrounds.com/company/blue-world-technologies)** Series C · DK **$12M** With 2 others
- **Dec** **[Seasony](https://millionrounds.com/company/seasony)** Seed · DK **$1.6M** With 2 others
- **Nov** **[Factbird ApS](https://millionrounds.com/company/factbird-aps)** Series A · DK **$16M** With 1 other
- **Oct** **[Klimate](https://millionrounds.com/company/klimate)** Seed · DK **$3.7M** With 2 others
- **Oct** **[Mxney](https://millionrounds.com/company/mxney)** Venture · DK **Undisclosed** With 2 others
- **Oct** **[Creative Force](https://millionrounds.com/company/creative-force)** Series A · US **$8.9M** With 3 others
- **Sept** **[MedTrace Pharma](https://millionrounds.com/company/medtrace-pharma)** Venture · DK **$19M** With 1 other

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 **30** 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.

## Exits from the portfolio

Companies it backed that were later bought or listed **3 in all**

**[TPACK](https://millionrounds.com/company/tpack)** Bought by [Altera](https://millionrounds.com/fund/altera) **Undisclosed** Apr 2013

**[TPACK](https://millionrounds.com/company/tpack)** Bought by [Applied Micro Circuits](https://millionrounds.com/fund/applied-micro-circuits) **Undisclosed** Aug 2010

**[Proxeon](https://millionrounds.com/company/proxeon)** Bought by [Thermo Fisher Scientific](https://millionrounds.com/fund/thermo-fisher-scientific) **Undisclosed** Apr 2010

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

## The cheque

Venture Seed Series A

Median round joined **$3.6M** the round, not its cheque Alone, median **$2.2M**

Led 0 of 132 rounds **0%**

- **Sole investor:** 26 rounds
- **Last cheque:** Aug 2026
- **Exits:** 3 from the portfolio

Rounds by stage said on their site

- Venture *42*
- Seed *30*
- Series A *25*
- Series B *7*
- Pre-seed *7*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [VF Venture](https://millionrounds.com/fund/vf-venture) 19
- [Export and Investment Fund](https://millionrounds.com/fund/export-and-investment-fund) 18
- [PSV](https://millionrounds.com/fund/psv) 16
- [Seed Capital](https://millionrounds.com/fund/seed-capital) 14
- [Innovation Fund Denmark](https://millionrounds.com/fund/innovation-fund-denmark) 12
- [Rockstart](https://millionrounds.com/fund/rockstart) 7

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## Who they invest alongside

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

[**VF Venture** VC firm **19** rounds together](https://millionrounds.com/fund/vf-venture)[**Export and Investment Fund** VC firm **18** rounds together](https://millionrounds.com/fund/export-and-investment-fund)[**PSV** Venture studio **16** rounds together](https://millionrounds.com/fund/psv)[**Seed Capital** VC firm **14** rounds together](https://millionrounds.com/fund/seed-capital)[**Innovation Fund Denmark** VC firm **12** rounds together](https://millionrounds.com/fund/innovation-fund-denmark)[**Rockstart** Accelerator **7** rounds together](https://millionrounds.com/fund/rockstart)[**Novo Holdings** VC firm **6** rounds together](https://millionrounds.com/fund/novo-ventures)[**Heartcore Capital** VC firm **5** rounds together](https://millionrounds.com/fund/heartcore-capital)[**Alchemist Accelerator** Accelerator **3** rounds together](https://millionrounds.com/fund/alchemist-accelerator)[**BioInnovation Institute** VC firm **3** rounds together](https://millionrounds.com/fund/bioinnovation-institute)[**ByFounders** VC firm **3** rounds together](https://millionrounds.com/fund/byfounders)[**Creandum** VC firm **3** rounds together](https://millionrounds.com/fund/creandum)

## Recently backed

The latest companies The Danish Growth Fund put money into.

[**Oktogrid** $4.6M · Jul 2026](https://millionrounds.com/company/oktogrid)[**Dawn Health** Jul 2026](https://millionrounds.com/company/dawn-health)[**Barma** Jun 2026](https://millionrounds.com/company/barma)[**Reduced** $4.7M · Feb 2026](https://millionrounds.com/company/reduced)[**Donkey Republic** $12M · Feb 2026](https://millionrounds.com/company/donkey-republic)[**Octarine Bio** $5.9M · Jan 2026](https://millionrounds.com/company/octarine-bio)

## Quick answers about The Danish Growth Fund

### What does The Danish Growth Fund invest in?

The Danish Growth Fund invests most often at Venture and Seed (65% of the rounds on record), in sectors such as Artificial Intelligence and Information Technology.

### How active is The Danish Growth Fund?

132 investments on record, 10 of them in the last 12 months. The most recent was in Aug 2026.

### What has The Danish Growth Fund invested in recently?

Its most recent investments on record: Factbird (Growth, Aug 2026), Oktogrid (Venture, Jul 2026) and Dawn Health (Venture, Jul 2026).

### How big are The Danish Growth Fund's cheques?

The median round it joins is $3.6M.

### Does The Danish Growth Fund lead rounds?

Rarely, if at all: none of its 132 investments on record names it as the lead.

### Where does The Danish Growth Fund invest?

Most of the companies it backs are in Denmark (83%) and the United States (15%).

### Is The Danish Growth Fund investing now?

Yes: it is actively investing, with 10 investments in the last 12 months.

### Who does The Danish Growth Fund invest alongside?

Most often VF Venture (19 rounds together), Export and Investment Fund (18 rounds together) and PSV (16 rounds together).

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