Copenhagen's Seed Capital Just Closed a Massive $140M Fund for Nordic Startups

Jan de Vries · 2026-09-11

### A Major Boost for Nordic Startups Seed Capital, a Copenhagen-based seed-stage investor, just closed its fifth fund at a whopping €130 million. That's roughly $140 million. And they're putting it to work across the Nordics, with a special focus on Sweden. If you're a founder in the region, this is big news. The fund plans to invest in 15-17 companies, writing first checks between €3-6 million (about $3.2-6.5 million). They're targeting FinTech, cybersecurity, resilience, and AI-driven B2B. ### Why This Matters Seed Capital isn't new to the game. Founded in 2004, they've been backing Nordic startups for two decades. Their portfolio includes heavy hitters like Trustpilot, Lunar, and Flatpay—Denmark's fastest unicorn to date. Companies they've invested in have collectively raised over $2.6 billion. That's a track record that speaks for itself. So why expand now? According to Christian Brøndum, Managing Partner, it's a natural next step. "Broadening into the Nordics is a natural extension of the fund model we've built over 20 years," he says. "Staying close to founders is central to how we work. Here we can be on the ground in under an hour and be there for the founders we partner with." That proximity matters. It means they can truly understand the challenges founders face and provide hands-on support. ### New Leadership, Same Founder-First Approach Speaking of support, Seed Capital just strengthened its team. Brøndum, former CEO of Planday, is now Managing Partner. Geeta Schmidt, former CEO and co-founder of Humio, joins as General Partner. Together with Lars Andersen, who has over 20 years of VC experience, they form a powerhouse trio. What sets them apart? Their hybrid model. They mix former operators with investment professionals. This means they've been in the trenches, built companies, and know what it takes to scale. They can offer both empathy and strategic guidance. ### Cybersecurity and Resilience: The New Frontier Fund V marks a new focus on cybersecurity and resilience. And they've already made their first investments: Fortiv, Moxso, Repodo, and Oplane. Schmidt is particularly excited about the intersection of security and AI. "As companies are building faster with AI, secure software becomes essential," she says. "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." That's a smart bet. As AI continues to explode, security will be paramount. ### What This Means for Founders If you're building in FinTech, cybersecurity, resilience, or AI-driven B2B, Seed Capital should be on your radar. They're actively looking for their next investments. With 15-17 companies to fund, there's plenty of opportunity. And they're not just writing checks. They provide management support, business development, strategic planning, marketing, and even legal and financial assistance. It's a full package. Plus, they're evaluating opening a Swedish office to be even closer to founders. That's commitment. So if you're a Nordic founder with big ambitions, now's the time to pay attention. Seed Capital has the capital, the experience, and the network to help you scale. And they're ready to deploy.