# Investors based in Copenhagen (2026 list) > 230 investors based in Copenhagen, 8% active in the last 12 months. Led by Heartcore Capital, Accelerace, ByFounders. Ranked by what they funded. Source: https://millionrounds.com/lists/investors-based-in-copenhagen (Millionrounds; every figure on the page links to its filing or article) [Investor Lists](https://millionrounds.com/lists) # Investors based in Copenhagen Updated 7 November 2026 Firms with an address in Copenhagen. A head office is a fact about the firm; where it invests is on its own page. [See all 230 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Finvestors-based-in-copenhagen)The top 25 **230** investors on the list No change this week **64** cheques in 12 months *+68%* against the market **$8.3M** median round they joined *+4%* against the market median **8%** wrote a cheque in 12 months **4%** have led a round ## The Top 25 Ordered by cheques observed, never by anything anyone paid for Deploying now (12) - 1 [Heartcore Capital](https://millionrounds.com/fund/heartcore-capital) *Deploying now* VC firm · Denmark **81** **$9.2M** median round **Nov 2026** last seen - 2 [Accelerace](https://millionrounds.com/fund/accelerace) quiet Accelerator · Denmark **78** **$549K** median round **Mar 2015** last seen - 3 [ByFounders](https://millionrounds.com/fund/byfounders) *Deploying now* VC firm · Denmark **71** **$3.6M** median round **Sept 2026** last seen - 4 [Northcap](https://millionrounds.com/fund/northcap) quiet VC firm · Denmark **22** **$4M** median round **Sept 2015** last seen - 5 [DENA A/S](https://millionrounds.com/fund/dena-a-s) quiet Private equity · Denmark **19** **$2.5M** median round **May 2017** last seen - 6 [EIFO (Denmark)](https://millionrounds.com/fund/eifo) *Deploying now* Government · Denmark **13** **$16M** median round **Oct 2026** last seen - 7 [Spring Ventures](https://millionrounds.com/fund/spring-ventures) quiet Advisor · Denmark **10** **$7.5M** median round **Nov 2019** last seen - 8 [Kompas VC](https://millionrounds.com/fund/kompas-vc) *Deploying now* VC firm · Denmark **7** **$13M** median round **Nov 2026** last seen - 9 [Lundbeckfonden Ventures](https://millionrounds.com/fund/lundbeckfonden-ventures) quiet VC firm · Denmark **7** **$31M** median round **May 2019** last seen - 10 [Impact Fund Denmark (formerly IFU)](https://millionrounds.com/fund/impact-fund-denmark) *Deploying now* Government · Denmark **5** **$29M** median round **Oct 2026** last seen - 11 [BlackWood Ventures](https://millionrounds.com/fund/blackwood-ventures) *Deploying now* VC firm · Denmark **4** **$3.5M** median round **Nov 2026** last seen - 12 [Climentum Capital](https://millionrounds.com/fund/climentum-capital) *Deploying now* VC firm · Denmark **4** **$10M** median round **Jun 2026** last seen - 13 [North Ventures](https://millionrounds.com/fund/north-ventures) *Deploying now* VC firm · Denmark **4** **$15M** median round **Sept 2026** last seen - 14 [Danske Bank](https://millionrounds.com/fund/danske-bank) quiet VC firm · Denmark **3** **$35M** median round **Sept 2025** last seen - 15 [IDC Ventures](https://millionrounds.com/fund/idc-ventures) quiet VC firm · Denmark **3** **$55M** median round **Nov 2024** last seen - 16 [Nordic Biotech](https://millionrounds.com/fund/nb-capital-aps) quiet Private equity · Denmark **3** **$10M** median round **Nov 2003** last seen - 17 [Nordic Makers](https://millionrounds.com/fund/nordic-makers) quiet VC firm · Denmark **3** **$16M** median round **Apr 2019** last seen - 18 [People Ventures](https://millionrounds.com/fund/people-ventures-3) *Deploying now* VC firm · Denmark **3** **$14M** median round **Oct 2026** last seen - 19 [Polaris](https://millionrounds.com/fund/polaris-private-equity) quiet Private equity · Denmark **3** **$7.4M** median round **Oct 2019** last seen - 20 [Ugly Duckling Ventures](https://millionrounds.com/fund/ugly-duckling-ventures) *Deploying now* VC firm · Denmark **3** **$5.8M** median round **Sept 2026** last seen - 21 [A.P. Moller Holding](https://millionrounds.com/fund/a-p-moller-holding) *Deploying now* Corporate VC · Denmark **2** **$257M** median round **Apr 2026** last seen - 22 [Better Collective](https://millionrounds.com/fund/better-collective) quiet VC firm · Denmark **2** **$492K** median round **Jun 2013** last seen - 23 [ATP Private Equity Partners](https://millionrounds.com/fund/atp-private-equity-partners) quiet Institutional LP · Denmark **1** **-** median round **Apr 2015** last seen - 24 [Capidea](https://millionrounds.com/fund/capidea) quiet Private equity · Denmark **1** **$3.4M** median round **Dec 2010** last seen - 25 [Chr. Augustinus Fabrikker](https://millionrounds.com/fund/chr-augustinus-fabrikker) *Deploying now* Private equity · Denmark **1** **$63M** median round **Oct 2026** last seen **205 more on this list** All 230 are in the app, with filters for stage, sector and market. A free account shows 10 per search, Pro up to 1,000. [See the whole list *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Finvestors-based-in-copenhagen) ## The Newest Cheques Rounds this list's investors joined most recently - **4** Nov **[Juritas](https://millionrounds.com/company/juritas)** Pre-seed · $1.6M *With* [BlackWood Ventures](https://millionrounds.com/fund/blackwood-ventures) - **4** Nov **[Supa](https://millionrounds.com/company/supa)** Seed · $28M *With* [Kompas VC](https://millionrounds.com/fund/kompas-vc) - **2** Nov **[Pixel Systems](https://millionrounds.com/company/pixel-systems)** Seed · $3.1M *Led by* [Unconventional Ventures](https://millionrounds.com/fund/unconventional-ventures) - **2** Nov **[Marble Cognition](https://millionrounds.com/company/marble-cognition)** Pre-seed · $3.8M *Led by* [Heartcore Capital](https://millionrounds.com/fund/heartcore-capital) - **28** Oct **[Artiso](https://millionrounds.com/company/artiso)** Pre-seed · $3.4M *With* [Look Up Ventures](https://millionrounds.com/fund/look-up-ventures) - **27** Oct **[Cortas](https://millionrounds.com/company/cortas)** Pre-seed · $1.6M *With* [EIFO (Denmark)](https://millionrounds.com/fund/eifo) ## Stages This Year 59 rounds - Pre-seed **27%** - Series A **25%** - Seed **19%** - Growth **7%** - Series D+ **5%** - Other **17%** ## What They Backed Sectors, last 12 months - AI **28** - Software **7** - Robotics **6** - Fintech **6** - Construction **5** - Big Data & Analytics **5** ## Cheques by Quarter Led Joined 9 Q1 25 10 Q2 25 13 Q3 25 10 Q4 25 11 Q1 26 12 Q2 26 20 Q3 26 16 Q4 26 The last bar is the quarter still running. ## Lists Like This - [Investors based in London 4,496](https://millionrounds.com/lists/investors-based-in-london) - [Investors based in CA 3,746](https://millionrounds.com/lists/investors-based-in-ca) - [Investors based in NY 3,658](https://millionrounds.com/lists/investors-based-in-ny) - [Investors based in WA 2,473](https://millionrounds.com/lists/investors-based-in-wa) - [Investors based in San Francisco 2,377](https://millionrounds.com/lists/investors-based-in-san-francisco) - [Investors based in TX 2,250](https://millionrounds.com/lists/investors-based-in-tx) - [Investors based in Dubai 1,922](https://millionrounds.com/lists/investors-based-in-dubai) - [Investors based in Los Angeles 1,261](https://millionrounds.com/lists/investors-based-in-los-angeles) - [Investors based in Chicago 1,255](https://millionrounds.com/lists/investors-based-in-chicago) [All investor lists *→*](https://millionrounds.com/lists) ## Quick answers about investors based in Copenhagen ### Who are the most active investors based in Copenhagen? By cheques observed, the most active are Heartcore Capital, Accelerace, ByFounders, Northcap and DENA A/S. ### How many investors based in Copenhagen are there? 230 are on record. 8% made an investment in the last 12 months and 4% have led a round. ### Which stages do investors based in Copenhagen back? Of the rounds with a named stage in the last 12 months, mostly Pre-seed (30%) and Series A (28%). ### How big are the rounds investors based in Copenhagen join? The typical (median) round among the leading investors here is $10M. ### Which sectors do investors based in Copenhagen back most? In the last 12 months, mostly AI, Software and Robotics. ### Which investors based in Copenhagen lead the most rounds? ByFounders (7 led), North Ventures (3 led) and Ugly Duckling Ventures (3 led). ### What have investors based in Copenhagen invested in recently? Recent rounds include Juritas (Pre-seed, Nov 2026, with BlackWood Ventures), Supa (Seed, Nov 2026, with Kompas VC) and Pixel Systems (Seed, Nov 2026, with Unconventional Ventures). ### How is this list of investors based in Copenhagen ranked? By cheques observed, from the rounds and filings we watched, and never by anything anyone paid for. It is rebuilt every night. Built from the rounds we watched, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections)