Innovation Fund Denmark
Government fundAarhus · Seed · 13 people tracked
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Investment thesis
Innovation Fund Denmark invests in research, knowledge-based innovation and entrepreneurship aimed at solving societal challenges and creating value for Denmark. Through programs such as Innobooster, Innofounder, Innoexplorer and Grand Solutions, the fund supports companies, researchers, entrepreneurs and public institutions. It also runs strategic focus areas including four green mission-driven research and innovation partnerships (Innomissions) covering CO2 capture and use, Power-to-X, climate- and environment-friendly agriculture and food production, and circular economy for plastics and textiles. Funding is awarded via evaluation panels and committees that assess applications and decide on grants.
Source: firm website, verified Sep 27, 2026.
Team · 13 people
from curatedPartner focused on B2B SaaS, GTM and international scale. Co-founder and CEO of Mono Solutions (acquired by Bauer Media Group, 2019), chairman of The Danish Foundation for Entrepreneurship, and board member at Eupry, Kanda and Juristic.
Serial founder turned venture partner who built Canute into a Nordic tech launchpad (acquired by Thursday Consulting in 2023) and co-founded travel-tech startup Comundu. Active angel investor in Europe's startup ecosystem.
Sten Verland is a venture partner and founding partner at Sunstone Life Science Ventures who brings experience in executive management, venture capital, and pharmaceutical development. He holds a PhD in Immunology and has served as a CEO, board member, and chairman across biotech and pharmaceutical companies, with expertise in drug development, M&A, and fundraising. Verland also participates in innovation funding committees supporting early-stage life science ventures.
Founder and Managing Partner of Fulcrum, launched in 2024. He previously was a Director at Fortress Investment Group and an analyst at Evercore, and began his career as an enlisted Marine Corps infantryman with deployments to Iraq and Afghanistan. He holds a B.A. in Political Science from Columbia University.
Director of R&D, Manufacturing and Quality at Novo Nordisk with over 20 years of leadership experience and degrees from Harvard, IMD, and London Business School.
Founder and Managing Partner of Emerald Technology Ventures, which she started in 2000 as Europe's first independent cleantech VC fund. She previously served as SVP for strategic planning and M&A at Swiss multinational Sulzer and holds a finance degree from Arizona State plus MBAs from Thunderbird and ESADE.
Lene Gerlach has 25 years of experience in the life science industry and about a decade in venture capital, where she has financed more than 35 companies, led follow-on rounds, and completed exits. She previously held a Partner role at Eir Ventures. She has served as Chairperson for 18 companies.
Former engineer and experienced tech VC with 17 years building unicorns, holding a PhD in Computer Science and specializing in identifying industry-transforming technology.
Investment analyst at Everplus Capital with a background in mathematical modeling, optimization and probability. Holds a mathematics degree from UCLA and previously worked at an asset management firm applying statistical methods to business data.
Rikke Dalsgaard is a board professional and lawyer with extensive experience as a C-level executive in commercial, strategic, and international business leadership. She has demonstrated expertise in growth and investment strategy, digital transformation, sustainability, and infrastructure development, with particular knowledge of the construction and related industries. Dalsgaard currently serves as a Board Member at AYA Asset Management Fondsmæglerselskab A/S and has held committee positions within Danish industry organizations for over 15 years.
Roger Wyse is co-founder and Managing Partner at Spruce Capital Partners, which he helped launch in 2013. He previously spent time at Burrill & Company from 1998 to 2013, where he served as President and COO of Biogreentech and led its agriculture, food, nutraceuticals, and industrial biotech venture activities. His earlier career included roles as Dean of the College of Agricultural and Life Sciences at the University of Wisconsin-Madison, Dean of Research at Cook College at Rutgers University, and 15 years as a scientist with the USDA-ARS.
First Chief Revenue Officer at JumpStart, she brings over 30 years in philanthropy, banking and relationship management, joining from the Cleveland Foundation where she led philanthropy initiatives and advisor relations.
Trained as a biotech engineer, Torsten co-founded YouNoodle, a large startup evaluation platform, and is a long-time angel investor in women's health. He co-founded Underground Ventures out of a belief that reliable energy underpins geopolitics and prosperity.
Founder mafia
3 people who came through Innovation Fund Denmark went on to found or lead other companies.
What they invest in
from 2 of 2 portfolio companiesCleantech ×2Advanced Manufacturing ×1AI & Machine Learning ×1Biotech ×1Data & Infrastructure ×1Energy ×1Healthtech ×1IoT ×1
HQs:Denmark×1Netherlands×1
Investments · 2 tracked
founders shown can be your intro pathAlter Echo develops technology that keeps personnel outside cleanrooms while reducing disposable gown waste in pharmaceutical manufacturing.
Advanced ManufacturingAI & Machine LearningBiotechCleantechHealthtechCopenhagen, DK
Marco Molinari(CEO)inSøren Myhre Voss(CTO)in
Co-investorsTechstars
Oktogrid develops IoT sensors and data analytics platforms for electricity grid infrastructure management, enabling utilities and asset managers to optimize transformer performance and maintenance during the energy transition.
CleantechData & InfrastructureEnergyIoT
Co-investorsElewitDelphinus Venture CapitalMist VenturesRockstartVaekstfonden
Portfolio news
latest coverage across their companiesAlterEcho · startupintros.com · Jul 13, 2026
Frequently asked questions
- What stage does Innovation Fund Denmark invest at?
- Innovation Fund Denmark invests at the Seed stage.
- What sectors does Innovation Fund Denmark focus on?
- Innovation Fund Denmark focuses on AgTech, Circular Economy, Cleantech, Climate Tech, Deep Tech, Defense Tech, Energy, FoodTech, Quantum Computing.
- Where is Innovation Fund Denmark located?
- Innovation Fund Denmark is headquartered in Aarhus, DK.
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