Seed Capital has announced its raise of €62.5 million which will be used to fuel a new growth fund. The Danish VC firm is expecting to keep the cash close to home, focusing on local tech companies that demonstrate exceptional promise.
As the name might suggest, Seed Capital typically invests in seed-stage rounds, often carrying through to exit. The firm reports that 65% of their initial investments receive Series A funding, a figure more than 3x the European benchmark of 19%. Amongst its notables, Seed has participated in Balderton’s investment in Forecast, Kinnevik’s investment in Superb, and InSight Partners and Blue Cloud’s investment in Templafy.
Seed’s raise arrives via Danish pension fund PFA, Danish state investment fund Vækstfonden, Danish government growth package fund DVK III, tobacco legacy and philanthropic fund Augustinus, and Danish municipal workers pension fund Sampension.
“We want to contribute to build the companies of the future. Seed Capital has a strong track record in supporting the rising stars of the Danish tech scene. It is important that we manage to support these companies throughout their growth journey while keeping their headquarters and roots in Denmark,” commented Vækstfonden’s senior vice president Mikkel Hesselgren.