The big picture: Copenhagen-based Seed Capital has closed its Fund V at €130 million. The firm, which has spent 20 years backing founders at seed through Series A, will invest in 15-17 companies with first checks of €3-6 million. The fund will continue its investment in fintech and AI-driven B2B, and adding cybersecurity and resilience as a new investment focus.
What it will back:
- Stage & Check Size: Seed Capital targets seed through Series A companies, with initial checks ranging from €3 million to €6 million.
- Sector Focus: The fund will focus on fintech, AI-driven B2B, and cybersecurity and resilience.
- Geography & Volume: Fund V will expand investments beyond Denmark to the broader Nordics, with a strategic emphasis on Sweden, targeting 15-17 companies.
Who is behind it:
Christian Brøndum, former CEO of Planday, steps in as Managing Partner, and Geeta Schmidt, former CEO and Co-Founder of Humio, joins as General Partner. They form the partner team alongside Lars Andersen, who brings more than 20 years of VC experience and has served as GP across all five of Seed Capital’s funds. Seed Capital’s track record includes Flatpay, Trustpilot, VEO, Lunar, and Templafy.
The catch: Seed Capital’s expansion into the Nordics, particularly Sweden, positions it against established regional players. While its 20-year track record and hybrid operator-investor model offer a competitive edge, the crowded early-stage market for AI and cybersecurity demands differentiated deal flow and value creation to justify its fund size.
Key Facts
- Firm: Seed Capital
- Fund: Fund V
- Size: €130M
- Status: Final close
- Stage: seed through Series A
- Focus: fintech, AI-driven B2B, cybersecurity, resilience
- Geography: Nordics, with strategic focus on Sweden
- Cheque size: €3M to €6M
- Partners: Christian Brøndum, Geeta Schmidt, Lars Andersen
- Announced: 2026-09-11
