SEED Capital‘s first closing is coming in at €67 Million

Denmark’s SEED Capital has a new fund chased up with half a billion Danish Kroner (€67 Million) committed from established, Danish investors ATP, Dansk Vækstkapital, The Danish Growth Fund and Augustinus Fonden. The objective is to increase the fund to DKK 750 million (€100 million) to invest in high-tech companies within IT and Medtech.

This is SEED’s third fund. Their first fund had a final closing of DKK 531 million while their second fund had a final closing of DKK 682 million.

The firm has had a solid year. They write:

During the last year SEED Capital has exited Contera Pharma, Sense, EpiTherapeutics, Libratone and Endomondo while Windar Photonics was admitted to trading on AIM. Last year also resulted in an agreement between Galecto Biotech and Bristol-Myers Squibb for a potential amount of USD 444 million. Trustpilot has also had a good year attracting USD 73,5 million in investment from American Vitruvian and all existing investors. SEED Capital was the first institutional investor in Trustpilot and remains the largest shareholder.

…We are very happy that so many talented entrepreneurs choose us as their investor and partner – a prerequisite for us to be able to attract funds is that we have the best entrepreneurs, with whom we can build great companies and generate returns for our investors. Our strategy is working, which is stressed by a solid performance in fund 2.