Investor Profile: Heartcore Capital — Thesis, Cheque Size & How to Apply

Heartcore Capital has been backing European founders "of genius and courage" since 2007 — and its record speaks for itself: four unicorns, more than 100 founding teams across 13 countries, and roughly €770 million in committed capital. If you are building in Europe and want an investor that leads early rounds and obsesses over founders rather than spreadsheets, Heartcore belongs on your shortlist.

The thesis: people first, everything else second

Heartcore's philosophy is simple: back exceptional people, early. Founded in Copenhagen as Sunstone Technology Ventures in 2007 and renamed Heartcore in 2019, the firm puts founders at the centre of every investment decision. In an interview with CzechStartups, the team put it bluntly: "Heartcore has always been about people. Founders are the most important point for us when analyzing an investment opportunity." They look for the drive to build a global company, deep industry knowledge, and charisma — and they spend a lot of time with founders before and after writing the cheque.

Sectors and stages

Heartcore is an early-stage fund at its core, historically leading pre-seed and seed rounds, with follow-on into Series A and B. Its sector focus spans the future of work, sustainability, synthetic biology, space tech, Web3, health and wellness, and travel tech. The geography is Europe-wide, with offices in Copenhagen (HQ), Stockholm, Berlin, and Paris, plus a growing push into Central and Eastern Europe.

Fund size and cheque size

The firm manages approximately €770 million in committed capital across five early-stage funds, two growth funds, and one Web3 fund. Its latest flagship, Heartcore Fund V, closed at €170 million in December 2024, expanding the remit into infrastructure, synthetic biology, and climate tech. A dedicated €15 million Web3 fund launched in December 2023 backs application-layer protocols. Typical first cheques run €1.5 million to €3 million.

Notable portfolio

Four companies backed by Heartcore went on to become unicorns: GetYourGuide, Tink, Neo4j, and TravelPerk. The wider portfolio includes Podimo, Boozt, Peakon, Seriously, Lime, and Klarna — a roll-call of Europe's defining consumer and fintech brands.

Key people

The partnership operates from Copenhagen with teams in Stockholm, Berlin, and Paris; recent hires such as Tomas Fanta are extending coverage into Central and Eastern Europe and actively hunting for new founders in the region.

Programs and perks

No public accelerator program or startup-credits package could be verified — Heartcore's value-add is the hands-on partner model and its deep European founder network.

How to apply for funding

Heartcore does not run a public application form; the verified route is a direct outreach. The firm says a founder "can reach out to us at any time" and likes building relationships early — it even acts as an unofficial mentor and advisor to aspiring founders before any cheque is discussed. Warm introductions through its portfolio founders or ecosystem partners are the fastest lane in.