Startup Funding in Denmark

Where do I find Danish investors for my startup?

I am often asked by both Danish entrepreneurs and foreigners moving to Denmark about the different options for startup financing locally. Below is therefore a very brief introduction to that subject.

Business angels

Many business angels prefer to invest together in consortia. Denmark is no exception and there are four regional business angels networks with which entrepreneurs can get in contact and in front of which pitch to their members:

Many business angels are for all sorts of reasons not a member of any of the above formal networks, in many cases because they already have large personal networks and therefore do not need the exposure/deals arising from the BA networks. Finding these is a bit trickier, but try:

However there are also many angels who are not even member of the DVCA. This goes for example for a lot of the successful IT entrepreneurs who are now investing part of their fortunes in new startups:

The best way to find these is to look into who funded previous startups within the same segment/industry you are in. This you can find via news articles but also via company databases like

Public innovation centres

To bridge the Valley of Death for startup financing the Danish Government has decided to run public innovation centres. These act and think almost like venture funds, but invest much earlier than a regular VC. The normal initial investment round is typically around 3–4 million DKK. Until 2014 there were six centres spread across Denmark who invested mostly regionally, but these were merged this year to just four centres. These are still located around Denmark, but invest across the country:

Venture Funds

Of course Denmark has real venture funds. Below are listed some of the most active:


A startup accelerator typically does not invest huge sums directly, but participation in a startup accelerator has for many startups been pivotal in their future fundraising via access/exposure to business angels and venture funds. There has been an explosion in the number of active accelerators – also in Denmark , but the two leading accelerators in Denmark are:

Debt financing

As any entrepreneur will confirm, banks in general don’t like to lend money to startups with an unproven business model. Vækstfonden (the Danish growth fund) has two options that can help bridge this gap and are therefore relevant for startups:


I know the above list is brief and therefore not comprehensive, but hopefully a good starting point for entrepreneurs looking for funding in Denmark.

Feel free to e-mail me ( if you think something is missing.

Best regards,

Nicolaj Højer Nielsen

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