The Copenhagen VC will back 15–17 startups with €3–6M initial cheques, adding cybersecurity and resilience to its investment focus as it targets Sweden for expansion.
Copenhagen-based Seed Capital has closed its Fund V at €130 million. The firm, which has spent 20 years backing founders at seed through Series A, will invest in 15-17 companies with first checks of €3-6 million. The fund will continue its investment in fintech and AI-driven B2B, and adding cybersecurity and resilience as a new investment focus.
Seed Capital’s track record includes Flatpay, Denmark’s fastest unicorn to date, Trustpilot, VEO, Lunar, and Templafy, making it one of the few Nordic seed funds to have delivered noticeable outcomes across its funds.
The fund has already made its first investments from Fund V, including Repodo and Oplane. With its fifth fund, Seed Capital will expand its investments beyond Denmark to the Nordics with a strategic focus on Sweden.
According to Christian Brøndum, Managing Partner, broadening into the Nordics is a natural extension of the fund model they’ve built over 20 years, combined with bringing their track record across the region.
“Staying close to founders is central to how we work and with the Nordics. Here we can be on the ground in under an hour and be there for the founders we partner with.”
Christian Brøndum, former CEO of Planday, steps in as Managing Partner, and Geeta Schmidt, former CEO and Co-Founder of Humio, joins as General Partner, forming the partner team alongside Lars Andersen, who brings more than 20 years of VC experience and has served as GP across all five of Seed Capital’s funds.
Together, they reflect the fund’s deliberate hybrid model, a mix of former operators and investment professionals that lets the team meet founders at eye level, drawing on first-hand experience of the challenges founders face, while bringing the strategic focus and investor perspective needed to guide companies through their growth.
“There are right now great opportunities at the intersection of security and AI. As companies are building faster with AI, secure software becomes essential, and these shifts and solutions we’re seeing are the ones we want to invest in, in Sweden and across the Nordics. Oplane is a great example of the kind of team we’re looking for: deep expertise, a product that is needed, and the ambition to build for where the world is headed,” shared Geeta Schmidt, General Partner.
As part of its expansion, Seed Capital is evaluating opening a Swedish office to further strengthen its close-to-founders approach.