Seed Capital is a Copenhagen-based venture capital firm that has spent two decades backing founders from seed through Series A. Founded in December 2004, it is one of the Nordics' most experienced early-stage funds — and it is now expanding beyond Denmark for the first time.
In September 2026 the firm announced the close of Fund V at €130 million. The fund will invest in 15–17 companies with first cheques of €3 million to €6 million, targeting startups from seed through Series A. With Fund V, Seed Capital is expanding its geographic focus beyond Denmark to the wider Nordics, with Sweden as a strategic priority — and is evaluating opening a Swedish office.
Thesis
Fund V builds on the firm's historic strength in fintech and AI-driven B2B, while adding cybersecurity and resilience as a new investment area. General partner Geeta Schmidt has pointed to the intersection of security and AI as a defining opportunity: as companies build faster with AI, secure software becomes essential. The firm's deliberate hybrid model combines former operators and investment professionals, so teams can meet founders at eye level while bringing investor perspective on growth. Beyond capital, it supports portfolio companies with management support, business development, organisational and strategic planning, marketing, and ad hoc operational, financial and legal assistance.
The people
The partner team is led by managing partner Christian Brøndum, the former CEO of Planday who orchestrated its growth and exit to Xero in 2021, alongside general partner Geeta Schmidt, former CEO and co-founder of Humio, and Lars Andersen, who brings more than 20 years of VC experience and has served as a GP across all five of Seed Capital's funds.
Portfolio
Seed Capital's track record includes some of the Nordics' defining outcomes: Flatpay (described as Denmark's fastest unicorn), Trustpilot, VEO, Lunar and Templafy. Companies it has backed have collectively raised more than $2.6 billion. Early investments from Fund V include Fortiv, Moxso, Repodo and Oplane.
The firm has not publicly disclosed a founder credits or perks programme.
Why it matters for founders
For Nordic — and increasingly pan-European — founders in fintech, cybersecurity or AI-driven B2B, Seed Capital's €130M Fund V is one of the best-capitalised seed-to-Series-A options in the region. First cheques of €3–6M give real runway, and the partner team's operator backgrounds (Planday, Humio) mean hands-on help with scaling, not just capital. Swedish founders in particular should be on its radar now that Sweden is its strategic priority.