Seed Capital closes a €130M fifth fund and expands from Denmark into the Nordics
Seed Capital has closed its fifth fund at €130mn and will use it to invest outside Denmark for the first time, backing 15 to 17 companies across the Nordics in fintech, AI-driven B2B and, for the first time, cybersecurity.
The Copenhagen firm will write first cheques of €3mn to €6mn at seed through Series A, with a strategic focus on Sweden, and is evaluating a Swedish office.
Christian Brøndum, formerly chief executive of Planday, becomes managing partner. Geeta Schmidt, co-founder and former chief executive of Humio, joins as general partner alongside Lars Andersen, who has been a GP across all five funds.
Three to six million euros as a first investment is not seed money as most European founders understand it, and 16 companies at the midpoint would absorb around €72mn, leaving under half the fund for follow-on across a portfolio that will need it. This is a concentrated seed-to-Series-A...
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