Seed Capital, a Copenhagen-based venture investor, has wrapped up its fifth fund at €130 million and is now targeting between 15 and 17 seed-stage and Series A companies throughout the Nordic region. The firm plans to deploy initial cheques ranging from €3 million to €6 million per investment. While maintaining its established expertise in fintech and AI-powered B2B solutions, the fund introduces cybersecurity and resilience as a fresh investment category. The geographic scope is shifting outward from Denmark's borders, with Sweden emerging as a key market for growth. Early deployments from Fund V have already gone to Fortiv, Moxso, Repodo and Oplane, and leadership is weighing whether to establish operations in Sweden.

A Two-Decade Track Record

Since its founding in 2006, Seed Capital has concentrated on early-stage ventures, typically from the seed phase through Series A. The firm's historical base was Danish startups, but Fund V marks a deliberate pivot toward broader Nordic coverage. The investment portfolio spans fintech, cybersecurity and resilience, and artificial intelligence applications in business-to-business markets. The firm's model pairs former operating executives with seasoned investment professionals, allowing the team to offer both capital and hands-on guidance to its portfolio companies. Over five funds, Seed Capital has backed notable exits including Flatpay—Denmark's fastest-growing unicorn—alongside Trustpilot, VEO, Lunar and Templafy.

Leadership and Operational Approach

Christian Brøndum, who previously led Planday as chief executive, has stepped into the Managing Partner role. Geeta Schmidt, formerly chief executive and co-founder of Humio, joins as General Partner. They work alongside Lars Andersen, a veteran of more than two decades in venture capital who has served as a general partner across all five of Seed Capital's funds. This leadership structure reflects the firm's deliberate strategy of blending operational founders with investment expertise, enabling the team to engage with entrepreneurs on equal footing while providing the strategic perspective needed to guide portfolio companies through scaling.

Broadening into the Nordics is a natural extension of the fund model we've built over 20 years, combined with bringing our track record and operational experience in FinTech, cybersecurity, and resilience to founders 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, Managing Partner

Security and AI as Strategic Priorities

Cybersecurity and resilience represent a new investment pillar for Fund V, signalling Seed Capital's belief that secure software is becoming critical infrastructure as organisations accelerate development using artificial intelligence. The firm sees substantial potential where security and AI intersect, particularly as faster development cycles driven by AI tools create fresh demand for robust software safeguards across the Nordic region.

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.

Geeta Schmidt, General Partner

To strengthen its ability to work closely with founders, Seed Capital is currently assessing the feasibility of launching an office in Sweden as part of its broader Nordic expansion strategy.

Source: ArcticStartup