Danish venture firm Seed Capital has closed its fifth fund, raising €130 million. The capital will support 15 to 17 companies from seed stage to Series A, with individual investments ranging from €3 million to €6 million.
The fund expands the firm's focus to include cybersecurity and resilience, alongside its traditional emphasis on fintech and AI-driven B2B services. This marks the first time in the firm's 20-year history that it has officially targeted the cybersecurity sector.
Seed Capital is extending its operations beyond Denmark, with Sweden identified as the primary target for new investments. The firm is considering opening a representative office in Sweden to support its regional expansion strategy.
The leadership team includes Managing Partner Christian Brøndum, General Partner Geeta Schmidt, and General Partner Lars Andersen. Schmidt, a co-founder of Humio, will lead the firm's new initiatives in the cybersecurity space.
Fund V has already deployed capital into four startups: Fortiv, Moxso, Repodo, and Oplane. The firm's portfolio includes notable past investments such as Flatpay, which reached a valuation of €1.5 billion in 2025, as well as Trustpilot, Lunar, and Templafy.
