Fundraising Fox
GRO Capital
Private equityCopenhagen · Series B–Growth · 33 people tracked
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Investment thesis
GRO Capital backs experienced leaders scaling advanced software businesses, positioning itself as a pragmatic, pattern-aware partner. Its support framework centers on three areas: scaling the commercial organization, delivering innovative product and technology, and building high-performing teams and culture. The firm emphasizes helping companies grow with speed and discipline while managing the tension between ambition and focus. Its portfolio spans sectors including cybersecurity, industrial automation, and energy infrastructure, and it draws on prior operating and investing experience to make scaling repeatable through structure and prioritization.
Source: firm website, verified Sep 29, 2026.
Team · 33 people
from the firm's website
What they invest in
from 14 of 23 portfolio companiesSaaS ×14Enterprise Software ×13AI & Machine Learning ×9Data & Infrastructure ×4Developer Tools ×4Advanced Manufacturing ×3Cloud Computing ×2Construction Tech ×2
HQs:Denmark×2Austria×1Germany×1Netherlands×1Norway×1Sweden×1
Investments · 23 tracked
founders shown can be your intro path
Paligo is a cloud-based content management system (CCMS) that helps technical writers create, manage, and publish documentation at scale using single-source content strategy.
AI & Machine LearningDeveloper ToolsEnterprise SoftwareSaaS
Co-investorsAlfvén & Didrikson
ToolSense offers a horizontal asset management and maintenance platform built on IoT connectivity, serving facility management, construction, logistics, and hospitality operators.
Enterprise SoftwareIoTPropTechSaaSVienna, AT
Co-investorsaws GründungsfondsMatterwave Ventures
Adform provides a media buying platform for advertisers, with a focus on data ownership and identity solutions built for a post-cookie environment.
AdTechMarketing TechSaaS
Gustav Mellentin(Founder)in
AIMMS is a SaaS platform that simplifies the adoption and deployment of mathematical optimization to enable organizations to make high-quality decisions across industries including utilities, healthcare, and policy.
AI & Machine LearningData & InfrastructureEnterprise SoftwareLogistics & Supply ChainSaaSHaarlem, NL
Akselos provides SPM (Structural Predictive Maintenance) technology that models how operational decisions like ramp rates and startup/shutdown procedures affect stress, fatigue accumulation, and brittle fracture risk in refinery reactors.
Advanced ManufacturingAI & Machine LearningDeep TechEnergyEnterprise SoftwareSaaS
Thomas Leurent(Founder)in
Co-investorsAlumni VenturesBasecamp FundCastor VenturesElewitFuture Energy VenturesJapan Energy Capital+1 more
Auditdata provides management software for executives running multi-location audiology networks, centralizing clinical, operational, and financial data into dashboards and standardizing workflows across clinics.
AI & Machine LearningDigital HealthEnterprise SoftwareHealthtechMedical DevicesSaaS
Sharad Govil(CEO & Chief Audiologist)
Catenda offers a free academic platform for teaching building information modeling (BIM) coordination using open standards like IFC and BCF, designed for accredited courses and student projects in the construction industry.
AI & Machine LearningCloud ComputingConstruction TechData & InfrastructureEdTechEnterprise SoftwareSaaSOslo, NO
Co-investorsSpring Capital
DigitalRoute provides a cloud platform for enterprise usage-based monetization, enabling companies to measure, price, and bill based on customer consumption across software, cloud, telecommunications, and other industries.
AI & Machine LearningData & InfrastructureEnterprise SoftwareFintechSaaSStockholm, SE
Co-investorsTempoCap
KeyShot is a 3D rendering and visualization platform that enables product design teams to create high-quality visual representations and prototypes for product design-to-market workflows.
Advanced ManufacturingDeveloper ToolsEnterprise SoftwareSaaS
Dr. Henrik Wann Jensen(Co-founder)Claus Wann Jensen(Co-founder)in
Promon provides a runtime intelligence platform that unifies application security, telemetry collection, and AI-powered risk decisions into a single integrated system running inside apps.
AI & Machine LearningCloud ComputingCybersecurityDeveloper ToolsEnterprise SoftwareSaaS
Daniel Kollberg(Chief Executive Officer)in
Tacton provides Configure-Price-Quote (CPQ) software with enterprise-grade information security and compliance management.
Advanced ManufacturingDeveloper ToolsEnterprise SoftwareSaaSSales Tech
Co-investorsRubicon Technology Partners
TARGIT develops business intelligence and analytics software that companies can embed directly into their own applications and solutions.
Data & InfrastructureEnterprise SoftwareSaaS
Morten Sandlykke(Co-founder)inSøren Leifsgård(Co-founder)Morten Middelfart(Co-founder)in
Trackunit operates a platform that connects construction equipment, machinery, and jobsites to provide fleet management, equipment tracking, and safety solutions for construction companies.
AI & Machine LearningConstruction TechEnterprise SoftwareIoTSaaS
Co-investorsHg CapitalGoldman Sachs
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
Boyum ItCurityESGIpointOmadaQueue ItQumeaSecomeaTrifork
Exits · 1
1 acquisitionsCurityacq. by GRO Capital
Portfolio news
latest coverage across their companiesTrackunit · trackunit.com · Jun 16, 2025
Fund performance · per public LP disclosures
as of Sep 2025| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| GRO Capital IIILPs: Los Angeles County Employees Retirement Association | 2019 | — | 5.1% | 1.05x | 0.31x |
Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).
Frequently asked questions
- How many investments has GRO Capital made?
- GRO Capital has 23 tracked investments, 1 of which have exited.
- What stage does GRO Capital invest at?
- GRO Capital invests at the Series B, Series C, Growth stages.
- What sectors does GRO Capital focus on?
- GRO Capital focuses on B2B Marketplaces, Cybersecurity, Energy, Enterprise Software, SaaS.
- Where is GRO Capital located?
- GRO Capital is headquartered in Copenhagen, DK.
- Who does GRO Capital co-invest with?
- GRO Capital most often shares deals with Alumni Ventures, aws Gründungsfonds, Basecamp Fund, among 11 tracked co-investors.
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