How many investments has Scale Capital made?

Scale Capital has 34 tracked investments.

What stage does Scale Capital invest at?

Scale Capital invests at the Seed, Series A stages.

What is Scale Capital's typical check size?

Scale Capital typically writes checks of $1.1M – $7.6M.

What sectors does Scale Capital focus on?

Scale Capital focuses on Advanced Manufacturing, AI & Machine Learning, Climate Tech, Data & Infrastructure, Deep Tech, Defense Tech, EdTech, Energy, Enterprise Software, Fintech, Healthtech, New Materials, Quantum Computing, Robotics, SaaS.

Where is Scale Capital located?

Scale Capital is headquartered in Copenhagen, DK.

Does Scale Capital lead rounds?

Yes, Scale Capital leads investment rounds.

Who does Scale Capital co-invest with?

Scale Capital most often shares deals with August One, Nucleation Capital, Outward VC, among 10 tracked co-investors.

Scale Capital

Venture capital

Copenhagen · Seed–Series A · 18 people tracked

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Investment thesis

Scale Capital invests in deep tech and technically ambitious startups, partnering closely with founders as they build companies that did not exist before. The firm emphasizes hands-on support — helping with key hires, go-to-market strategy, pricing, and commercial thinking — and positions itself as a patient, long-term partner given that deep tech takes longer to build than expected. Its team is made up of ex-founders, operators, and specialists who understand both the excitement and difficulties of company building, and it supports portfolio companies through the journey to global commercialisation.

Source: firm website, verified Aug 3, 2026.

Stage

Seed–Series A

Check

$1.1M – $7.6M

Copenhagen, DK

Leads rounds

Leads

Instruments

Equity

Founded

2012

Tracked investments

Team · 18 people

from the firm's website

Kenneth Grunow· General Partner· Copenhagen, Capital Region of Denmark, Denmarkin

Kenneth Grunow is a serial founder with four exits, 25 years' commercial real estate experience, owner of an M&A brokerage with 80+ transactions, board governance-educated, and experienced scaling companies internationally.

k•••@scalecapital.comreveal

Lars Jensen· Managing Partner· Denmarkin

Lars Jensen thrives on change and risky moves, serving as a scaling partner with decades of transatlantic network-building and expertise in organizational development and U.S. market acceleration for Nordic tech.

l•••@scalecapital.comreveal

Joachim Schelde· Principal· Copenhagen, Capital Region of Denmark, Denmarkin 𝕏

Joachim Schelde, a founder-operator who started a business at 17, provides hands-on guidance to technical B2B founders in the Nordics and Germany for US market entry, validation, hiring and sales.

j•••@scalecapital.comreveal

Terkel Douglas· Principal· Copenhagen, Capital Region of Denmark, Denmarkin

Terkel Douglas, Principal and head of ESG, pivoted from law into venture after moonlighting as an analyst while working in finance and co-founded a conservation NGO near Kaziranga.

t•••@scalecapital.comreveal

Andy Toth· Venture Partner· Berlinin

Slovak founder-turned-VC Andy Toth scaled businesses to 700+ employees and $100M+ revenue, led Plug and Play Berlin, saw five exits to tech including Google, and combines legal and technical fluency.

a•••@icloud.comreveal

Christian Dalum· Venture Partner· Copenhagenin

Christian Dalum combines Nordic private investments and transatlantic SaaS venture experience with 20+ years in Nordic buyouts and restructurings, actively driving ownership agendas on listed boards such as Movinn A/S.

c•••@scalecapital.comreveal

Fredrik Bentlinger· Venture Partner· Stockholmin

Fredrik Bentlinger is a venture partner and founder-operator who runs Atmoz, an SMB carbon management platform, combining CFO/executive experience at larger tech firms with hands-on CSRD and ESRS expertise.

f•••@scalecapital.comreveal

Lars Rinnan· Venture Partner· Oslo, Norwayin

Lars Rinnan combines AI company-group CEO experience with venture investing, bringing rare operational depth and a recognized futurist and keynote-speaker voice on AI's business and societal impact.

l•••@scalecapital.comreveal

Lene Schulze· Venture Partner· San Franciscoin

Lene Schulze is a venture investor connecting Nordic founders with Silicon Valley, co-founding SCALEit, former Deputy Director at Innovation Centre Denmark, and leading connectivity projects in underserved Africa and India.

l•••@scalecapital.comreveal

Alexander Bangsund· Investment Analyst, Oslo· Oslo and Bergenin

Investment Analyst covering the Norwegian ecosystem with focus on robotics, defence, energy and digital infrastructure. Previously worked at a proptech startup and studied at UC Berkeley's Haas School of Business.

a•••@scalecapital.comreveal

Boje Thosti· Head of Finance· Copenhagen Metropolitan Areain

Head of Finance responsible for fund accounting, investor reporting, compliance and operational support. Previously worked at the Danish National Research Foundation's investment team and spent five years at PwC.

b•••@scalecapital.comreveal

Elias Agardh· Investment Analyst, Stockholm· Stockholmin

Investment Analyst supporting the firm's work in Sweden through dealflow, market research and founder outreach. Previously interned at Gilion and Contrary and worked on the early team of B2B SaaS startup Soultech.

e•••@scalecapital.comreveal

Frederik Barsøe· PR & Communications Lead· Tel Aviv District, Israelin

Leads Scale Capital's PR, media relations and strategic storytelling. A former journalist and communications consultant who has worked with 50+ startups and founders.

f•••@scalecapital.comreveal

Judith Schrader· Investment Associate· Germanyin

Investment Associate on the deal-sourcing team who conducts industry research and grows the firm's presence in Germany. Previously worked at KPMG and a Danish e-commerce startup, and holds a Master's in Digital Business from Copenhagen Business School.

j•••@scalecapital.comreveal

Lars Barkler· ESG Ambassador on Climate Technologies· Copenhagen Metropolitan Areain

Lars Barkler is the fund's ESG Ambassador on climate technologies, validating investment opportunities and advising on sustainability. He is the former CEO of Lithium Balance and previously held roles at Bruel & Kjaer and Radiometer Medical.

l•••@scalecapital.comreveal

Sofia Svanqvist· Investment Analyst· Greater Stockholm Metropolitan Areain

Swedish-native Investment Analyst on the deal-sourcing team responsible for growing the firm's presence in Sweden. Previously supported executive leadership at a large Nordic retail bank and interned at a proptech SaaS startup.

s•••@scalecapital.comreveal

Tiina Erho· Investment Analyst, Helsinki· Espoo, Helsinkiin

Investment Analyst covering the Finnish ecosystem with focus on deeptech, university spinouts and defence. Previously led the operational team of SILTA, a non-profit supporting founders expanding to the US.

t•••@scalecapital.comreveal

Vika Marszalek· Brand & Design Manager· Copenhagen, Capital Region of Denmark, Denmarkin

Leads Scale Capital's brand and design work, focused on storytelling and communicating the firm's vision. Holds a bachelor's in Design & Communication from KEA.

v•••@scalecapital.comreveal

What they invest in

from 7 of 35 portfolio companies

SaaS ×3AI & Machine Learning ×2Deep Tech ×2Enterprise Software ×2Hardware ×2Cleantech ×1Climate Tech ×1Digital Health ×1

HQs:Denmark×2Sweden×1

Investments · 35 tracked

founders shown can be your intro path

7Analytics7analytics.ai in

7Analytics provides high-resolution (1×1 m), claims-trained flood risk analytics that assess flood exposure building by building.

AI & Machine LearningClimate TechInsurTech

Actimo

Airtameairtame.com in 𝕏

Airtame offers a platform that combines screen sharing, video conferencing, digital signage, and emergency alerts for organizations, with hardware and software options for deploying and managing screens across rooms.

Enterprise SoftwareHardwareSaaS

Alex Therapeuticsalextherapeutics.com in

Alex Therapeutics builds clinically validated digital therapeutics and therapy companion apps that combine CBT-based interventions, consumer product design, and AI/ML to support patients managing complex conditions such as rare diseases and cancer.

AI & Machine LearningDigital HealthHealthtechMedical Devices

John Drakenberg(Co-founder)Oliver Fleetwood(Co-founder)

Co-investorsInnovestor Ventures Hadean Ventures

Alex Therapeutics

All Gravy

Alphin

ARX white svg

BeMyEyes SVG

Blykallablykalla.com in

Blykalla develops a first-of-a-kind lead-cooled small modular reactor (SMR) using a patented aluminum-alloyed corrosion-resistant steel, and has applied to build an advanced nuclear reactor park at Norrsundet, Sweden delivering around 330 MW of baseload power.

CleantechDeep TechEnergyStockholm, SE

Co-investors92 Capital Armada Investment AG August One Earth Venture Capital Farvatn Venture Nucleation Capital +2 more

Bsure

Calculo SVG

CI HUB

Collo

Cylindo

Doctorplan

DonkeyRepublic SVG

Dynastrom

Esc

Favro

Globus

Mazepaymazepay.com in

Mazepay offers an AI-powered platform for onboarding, compliance, and payments of long-tail suppliers, automating supplier data management and integrating results into a company's ERP systems.

Enterprise SoftwareFintechSaaSÅrhus, DK

Thomas Dragsbæk(Founder)inDan Kortegaard Nielsen(Founder)

Co-investorsOutward VC Salica Investments Vendep Capital

Meetingpackage

Meo

Mqs

Players 1St

Pleaz

Predicts floods

Real-time flood prediction and monitoring platform for climate adaptation to protect critical infrastructures (Norway).

Puori

Quantica

Six Robotics

Sonair

Sparrow Quantumsparrowquantum.com in 𝕏

Sparrow Quantum develops deterministic photon generation technology, producing quantum photonic chips and integrated systems for quantum computing and interconnect applications.

Deep TechHardwareQuantum Computing

Co-investorsLIFTT

Unsilo

WhistleSystemwhistlesystem.com in

WhistleSystem provides a digital whistleblowing platform that lets employees anonymously report misconduct, harassment, and legal violations, helping companies comply with the EU Whistleblower Directive.

HR TechLegalTechSaaS

BoardMark Vigild(Partner)

Portfolio news

latest coverage across their companies

Swedish SMR developer Blykalla raises $50m as it advances plans to power data centers - DCD

Blykalla · datacenterdynamics.com · Mar 31, 2026

Frequently asked questions

How many investments has Scale Capital made?: Scale Capital has 34 tracked investments.
What stage does Scale Capital invest at?: Scale Capital invests at the Seed, Series A stages.
What is Scale Capital's typical check size?: Scale Capital typically writes checks of $1.1M – $7.6M.
What sectors does Scale Capital focus on?: Scale Capital focuses on Advanced Manufacturing, AI & Machine Learning, Climate Tech, Data & Infrastructure, Deep Tech, Defense Tech, EdTech, Energy, Enterprise Software, Fintech, Healthtech, New Materials, Quantum Computing, Robotics, SaaS.
Where is Scale Capital located?: Scale Capital is headquartered in Copenhagen, DK.
Does Scale Capital lead rounds?: Yes, Scale Capital leads investment rounds.
Who does Scale Capital co-invest with?: Scale Capital most often shares deals with August One, Nucleation Capital, Outward VC, among 10 tracked co-investors.

Images

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