(3.2.2010) First closing has been completed with capital from among others Danish ATP and Vækstfonden. Successful disposals of portfolio companies and the ability to identify, develop and prepare growth companies for sale attract new capital to the Danish venture fund.  
SEED Capital announces a successful first closing of DKK 435 million from a range of established, Danish investors, and thereby strengthens SEED Capital’s leading position in the Danish venture market.

SEED Capital Fond II is founded with DKK 435 million in a first closing. ATP, the Danish Labour Market Supplementary Pension, and Vækstfonden, a Danish State investment fund, are among the significant investors in the new fund. SEED Capital has already received further positive indications from additional investors, who wish to participate in the second closing of the fund. The aim is to reach DKK 750 million during 2010.

“Since its foundation, SEED Capital has been able to achieve a strong strategic position in the Danish venture market. Our cooperation with DTU Symbion Innovation at the Danish Technical University, and most of the publicly funded Danish research institutions founds the basis for a unique deal flow.  We have an interesting portfolio of companies with a great growth potential, and we have a team of very experienced investment managers, who personally have experience in establishing and running start-up companies. With a new fund, we can continue developing future growth companies from the entrepreneurial stage and make them ready for sale,” says Ulla Brockenhuus-Schack, managing partner at SEED Capital.

Recently, SEED Capital has been active in the establishment and the successful sale of the broadband company Fullrate to TDC in the spring 2009. Moreover, SEED Capital has completed a successful IPO of the biotech company Evolva in December 2009. Within the portfolio is also the company watAgame – which today – with the concept GoSuperModel – is one of the most popular social networks for teenage girls in the age 10-16 years.

”ATP is continuously asked to invest in venture companies and funds, and of course we are looking at the company’s ability to deliver a good return on our investments. SEED Capital has done well in a difficult market for early stage companies. Based on the results from their first fund, we have therefore not hesitated to take on the role as a significant investor in SEED Capital’s new fund”, says Bjarne Graven Larsen, CIO at ATP.

Vækstfonden is also pleased with the development:”It is very positive that SEED Capital Denmark already has been able to raise capital to a new fund. This will make them able to continue the work of establishing new growth companies in Denmark”, says Christian Motzfeldt, CEO at Vækstfonden.

Further information:
Ulla Brockenhuus-Schack, managing partner, SEED Capital  Phone: +45 20 82 83 74
Bjarne Graven Larsen, CIO, ATP   Phone: +45 48 20 42 32

SEED Capital was founded in 2004 in cooperation with DTU Innovation, Symbion Management and a range of private and public investors and with the administration of more than DKK 1 billion today, the fund is the largest, active venture fund within the seed segment in Denmark. SEED Capital is specialized in identifying and developing new and innovative technology companies and today holds barely 65 companies in its portfolio.
Read more at www.seedcapital.dk