Fundraising Fox
Ugly Duckling Ventures
Venture capitalCopenhagen · Pre-Seed–Seed · 3 people tracked
Also known as Ugly Duckling
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Investment thesis
UDV invests in early-stage Nordic B2B software and technology companies with proven revenue traction and potential to scale into category-leading businesses. Its focus is concentrated on Medtech, Resilience Tech, and Business Services software. The firm looks for outstanding, complementary founding teams and takes an active, operational, GP-led approach, staying hands-on without being intrusive. It deploys smaller initial tickets while reserving the largest portion of the fund for follow-on investments as companies gain traction. Beyond capital, UDV offers strategic guidance, mentorship, and access to a network built over more than a decade in the Danish startup community.
Source: firm website, verified Aug 3, 2026.
Team · 3 people
from public directories
What they invest in
from 11 of 14 portfolio companiesSaaS ×6AI & Machine Learning ×4Enterprise Software ×4Climate Tech ×2Deep Tech ×2Fintech ×2Future of Work ×2Marketing Tech ×2
HQs:Denmark×3United States×2United Kingdom×1Japan×1Netherlands×1
Investments · 14 tracked
founders shown can be your intro pathBy year:2026 · 42025 · 12024 · 16 dated
Acadian Ventures is an early-stage venture capital firm focused on the Future of Work, investing in companies such as Nomi Health, Oyster, SmartRecruiters, Degreed, and Utmost.
Enterprise SoftwareFuture of WorkSaaS
Jason Corsello(Founder & General Partner)inThomas Otter(General Partner)in
Co-investorsConnecticut InnovationsPeakThomas JamesEmblemFELIX CAPITALNotion Capital
BeCause provides sustainability management and certification tools for the travel and tourism industry, helping businesses, certification bodies, technology providers, and consultants streamline ESG compliance and environmental reporting.
Climate TechImpact & Social GoodSaaSTravel & HospitalitySeattle, US
Co-investorsSuperAngel
Curiosity VC is a venture capital firm raising a fund to invest in early-stage AI software companies, targeting a portfolio of around 30 companies.
AI & Machine LearningFintechMarketing TechBenelux, NL
Co-investorsPeak
Kanda provides point-of-sale financing for homeowners undertaking renovation projects through their general contractor partners, enabling customers to pay in installments rather than upfront.
FintechPropTechSaaSBirmingham, GB
Phillip Daneshyar(Founder)inRichard Fleeman(Founder)inRob Gallagher(Founder)inPaul Damasco(Senior Engineer)
Co-investorsKnockout CapitalSoma CapitalY CombinatorFJ LabsGutter CapitalJWass PT Investors+7 more
Kanda creates digital simulations and VR training courses for corporate learning in the maritime, renewable energy, and health sectors.
CleantechDeep TechEdTechEnergyEnterprise SoftwareHR TechAarhus, DK
Co-investorsTechstarsFJ LabsY Combinator
Moxso provides phishing simulation and security awareness training for employees.
CybersecurityCopenhagen, DK
Rune Boye Knudsen(Founder)inMikkel Lindblom(Founder)
Co-investorsDouble DownSEED Capital DenmarkSeed Capital Limited
Palette Desktop is a workspace application designed for non-engineering professionals to manage writing, research, planning, operations, and design tasks across shared folders using AI agents.
AI & Machine LearningEnterprise SoftwareSaaSCopenhagen, DK
Lars Ettrup(Co-founder & CEO)inSteffen Sommer(Co-founder & CTO)inBrian Kyed(Co-founder & CCO)inChristian Lomholt(Co-founder)
Co-investorsAcadian Ventures Management, LlcBain Capital VenturesEmblemExfinity VenturesKima VenturesLiquid Ventures+3 more
Palette Cloud operates a housing/living platform for the real estate industry, offering services to real estate operators as well as tenants, unified through its "Palette ID" (OpenID) system.
PropTechSaaS
Co-investorsZ Venture CapitalAcadian Ventures Management, LlcEmblem
Palette is a project management and collaboration platform for creative and video production teams, offering frame-by-frame drawover, real-time boards, timelines, version tracking, and task management tied to assets and reviews.
Future of WorkMedia & EntertainmentSaaS
Co-investorsSTARTUP IGNITION VENTURESAcadian Ventures Management, LlcEmblem
Palette is a multimodal AI studio that turns a single prompt, image, or document into video, visuals, and structured content within one workflow, with editing, storyboarding, and character-consistency tools.
AI & Machine LearningCreator EconomyEnterprise SoftwareMarketing TechSan Francisco, US
Amila Welihinda(Founder)inJosephine Lee(Founder)inSerena Pei(Founder)in
Co-investorsVela PartnersY CombinatorAcadian Ventures Management, LlcAgrolimen VenturesAnderson Growth PartnersBain Capital Ventures+5 more
Skyfora develops weather forecasting technology using AI-driven GNSS tomography and GPS-based radiosondes to close gaps in weather data.
AI & Machine LearningClimate TechData & InfrastructureDeep Tech
Svante Henriksson(Founder)in
Co-investorsEviny VenturesVoima VenturesLumo Labs
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
DiplomasafeEupry
Portfolio news
latest coverage across their companiesPalette · finsmes.com · Aug 12, 2026
Skyfora · eu-startups.com · Jun 9, 2026
Moxso · fintech.global · Sep 2, 2025
Frequently asked questions
- How many investments has Ugly Duckling Ventures made?
- Ugly Duckling Ventures has 14 tracked investments, including 5 dated in the last 24 months.
- What stage does Ugly Duckling Ventures invest at?
- Ugly Duckling Ventures invests at the Pre-Seed, Seed stages.
- What is Ugly Duckling Ventures's typical check size?
- Ugly Duckling Ventures typically writes checks of $540K – $1.1M.
- What sectors does Ugly Duckling Ventures focus on?
- Ugly Duckling Ventures focuses on Enterprise Software, Medical Devices, SaaS.
- Where is Ugly Duckling Ventures located?
- Ugly Duckling Ventures is headquartered in Copenhagen, DK.
- Does Ugly Duckling Ventures lead rounds?
- Ugly Duckling Ventures has led 4 of the 6 rounds where its role is on record.
Media · Podcasts & interviews
featuring the teamWomen in Tech - At the forefront of innovation: Louise Lachmann, Ugly Duckling Ventures
Bird & Bird · Louise Lachmann
Images
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