Danish companies raised a total of DKK 8.4 billion in venture capital in 2024 – risk capital invested in growth companies – distributed over 112 investment rounds. This is a decrease of 5 percent compared to 2023, while the number of investments has decreased by 7 percent. This is stated by the Danish Export and Investment Fund (EIFO) in a press release.
- Geopolitical uncertainties such as the war in Ukraine and the autumn's US presidential election may have dampened investment appetite. However, we can be pleased that Denmark has proven to be a bit more robust than the rest of the European market in 2024, says Erik Balck Sørensen, Investment Director at EIFO.
In the rest of Europe, venture investments fell by 8 percent, while the number of investments was 23 percent lower than the previous year. This has happened even though macroeconomic conditions such as interest rates and inflation have stabilized since 2023.
The decline in Denmark is mainly due to fewer investments in growth companies. The number of investments in this segment fell from 16 to 10, while the total amount invested in growth companies fell by 25%. In contrast, the total amount invested in late-stage investment rounds increased by 24%.
At the same time, more foreign investors have taken notice of Danish startups. The share of investment rounds with foreign investors increased from 65% in 2023 to 70% in 2024, while the share of capital exclusively from foreign investors grew from 11% to 27%.
- The increased presence of international investors in the Danish venture market reflects a strong global interest in Danish entrepreneurial companies and their scaling potential. This is positive, because compared to other Nordic markets, Denmark has a relatively small national investor base, which makes foreign capital crucial for scaling startups, says Erik Balck Sørensen.
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