Danish VC NorthCap Partners raises new money

The Danish venture capital firm, NorthCap Partners has according to Børsen (the Danish leading financial newspaper) established a new fund with DKK 325m to invest in Danish and Swedish software and IT service companies with a turnover between DKK 5 – 50m. In the second round of funding, NorthCap attempts to raise an additional DKK 175m so that the total amount to be invested from the new fund will be DKK 500m.

An undisclosed part of the money for the new fund is from the Danish government’s socalled package for business (“Erhvervspakke”), which was adopted by the parliament in 2009.

The new fund replaces NorthCap’s previous fund which was established in 2005. NorthCap has been largely inactive in the Danish venture market the last couple of years which also is apparent from its website where the latest news dates back to 2009.

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