byFounders
Nordic-Baltic seed-stage VC (offices in Copenhagen and Stockholm) backing experienced founders across climate tech, AI, fintech, deeptech and healthtech; makes ~8-15 new pre-seed/seed investments per year with EUR 0.5-4M tickets.
AUM
–
Funds
3
vintages 2017–2023
Portfolio
57
Exits
9
Key facts
Recent exits
Outfunnel
SaaS2026 · 6yr hold
Contractbook
LegalTech2025 · 6yr hold
Garden
DevTools2024 · 4yr hold
PipeBio
Biotech2024 · 3yr hold
Coverage notes
3 funds tracked, 66 portfolio companies (57 active · 9 realized). Verified weekly from public filings and deal announcements.
Sector breakdown
66 companiesSaaS
10 · 15%
ClimateTech
8 · 12%
AI/ML
8 · 12%
DevTools
5 · 8%
Fintech
5 · 8%
Gaming
4 · 6%
HealthTech
3 · 5%
Biotech
2 · 3%
Funds & portfolio
Every fund byFounders has raised, with its portfolio companies. Hand-checked from public filings.
3 funds
byFounders IIIVC2023 · 3yr25 active
Unrealized
25 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| SaaS |  Denmark | 2026 | |
| Biotech |  Italy | 2025 | |
| Cloud Infrastructure |  Norway | 2026 | |
| ClimateTech | Denmark | 2023 | |
| Software | Denmark | 2024 | |
| AI/ML | Denmark | 2026 | |
| SaaS | United Arab Emirates | 2026 | |
| AI/ML | Denmark | 2025 | |
| SaaS |  US | 2023 | |
| AI/ML |  Sweden | 2025 | |
| FoodTech | US | 2023 | |
| HealthTech | Norway | 2024 | |
| Deep Tech |  Switzerland | 2025 | |
| DevTools | Sweden | 2023 | |
| ClimateTech |  Germany | 2024 | |
| AI/ML | Denmark | 2024 | |
| DevTools | Sweden | 2023 | |
| DevTools | Denmark | 2023 | |
| ClimateTech | Sweden | 2024 | |
| ClimateTech | Estonia | 2026 | |
| Fintech | Denmark | 2025 | |
| DevTools |  Finland | 2026 | |
| Cloud Infrastructure | Finland | 2024 | |
| AI/ML | Norway | 2026 | |
| Deep Tech | Finland | 2026 |
ApylonActive
SaaSDenmark· Entry 2026
Denmark· Entry 2026ArsenaleActive
BiotechItaly· Entry 2025
Italy· Entry 2025CloudgeniActive
Cloud InfrastructureNorway· Entry 2026
Norway· Entry 2026DREMActive
ClimateTechDenmark· Entry 2023
Denmark· Entry 2023FigurementActive
SoftwareDenmark· Entry 2024
Denmark· Entry 2024FlareActive
AI/MLDenmark· Entry 2026
Denmark· Entry 2026FloadActive
SaaSUnited Arab Emirates· Entry 2026
FocalXActive
AI/MLDenmark· Entry 2025
Denmark· Entry 2025FrancisActive
SaaSUS· Entry 2023
US· Entry 2023IntricActive
AI/MLSweden· Entry 2025
Sweden· Entry 2025JellatechActive
FoodTechUS· Entry 2023
US· Entry 2023LivvActive
HealthTechNorway· Entry 2024
Norway· Entry 2024Loki RoboticsActive
Deep TechSwitzerland· Entry 2025
Switzerland· Entry 2025LovableActive
DevToolsSweden· Entry 2023
Sweden· Entry 2023Meine ErdeActive
ClimateTechGermany· Entry 2024
Germany· Entry 2024ParahelpActive
AI/MLDenmark· Entry 2024
Denmark· Entry 2024QA.techActive
DevToolsSweden· Entry 2023
Sweden· Entry 2023Rig.devActive
DevToolsDenmark· Entry 2023
Denmark· Entry 2023SkyeActive
ClimateTechSweden· Entry 2024
Sweden· Entry 2024Spiral HydrogenActive
ClimateTechEstonia· Entry 2026
SumaryActive
FintechDenmark· Entry 2025
Denmark· Entry 2025TangledActive
DevToolsFinland· Entry 2026
Finland· Entry 2026VerdaActive
Cloud InfrastructureFinland· Entry 2024
Finland· Entry 2024VisoidActive
AI/MLNorway· Entry 2026
Norway· Entry 2026WilloActive
Deep TechFinland· Entry 2026
Finland· Entry 2026byFounders IIVCHarvesting2020 · 6yr23 active · 5 realized
Unrealized
23 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Hospitality | Denmark | 2020 | |
| HealthTech | Germany | 2022 | |
| Hospitality | Finland | 2020 | |
| SaaS | Germany | 2022 | |
| SaaS | Denmark | 2022 | |
| Gaming | Finland | 2020 | |
| SaaS | Romania | 2021 | |
| ClimateTech | Denmark | 2022 | |
| SaaS |  UK | 2021 | |
| MedTech | Finland | 2022 | |
| Fintech | Denmark | 2021 | |
| Fintech | Iceland | 2020 | |
| ClimateTech | Denmark | 2020 | |
| PropTech | Denmark | 2020 | |
| Fintech | Estonia | 2022 | |
| Consumer | Iceland | 2021 | |
| HR Tech | Finland | 2021 | |
| Gaming | Finland | 2020 | |
| AI/ML | US | 2022 | |
| Fintech | Denmark | 2022 | |
| SaaS | Lithuania | 2022 | |
| Mobility | Germany | 2021 | |
| SaaS | Denmark | 2020 |
Aero GuestActive
HospitalityDenmark· Entry 2020
Denmark· Entry 2020AumioActive
HealthTechGermany· Entry 2022
Germany· Entry 2022Bob WActive
HospitalityFinland· Entry 2020
Finland· Entry 2020CelloActive
SaaSGermany· Entry 2022
Germany· Entry 2022Creative ForceActive
SaaSDenmark· Entry 2022
Denmark· Entry 2022Dazzle RocksActive
GamingFinland· Entry 2020
Finland· Entry 2020DigitailActive
SaaSRomania· Entry 2021
Ento LabsActive
ClimateTechDenmark· Entry 2022
Denmark· Entry 2022FuzeyActive
SaaSUK· Entry 2021
UK· Entry 2021IXIActive
MedTechFinland· Entry 2022
Finland· Entry 2022JanuarActive
FintechDenmark· Entry 2021
Denmark· Entry 2021LucinityActive
FintechIceland· Entry 2020
MontaActive
ClimateTechDenmark· Entry 2020
Denmark· Entry 2020ProperActive
PropTechDenmark· Entry 2020
Denmark· Entry 2020Salto XActive
FintechEstonia· Entry 2022
SmittenActive
ConsumerIceland· Entry 2021
SourcioActive
HR TechFinland· Entry 2021
Finland· Entry 2021Starberry GamesActive
GamingFinland· Entry 2020
Finland· Entry 2020SupernormalActive
AI/MLUS· Entry 2022
US· Entry 2022VibrantActive
FintechDenmark· Entry 2022
Denmark· Entry 2022WatalookActive
SaaSLithuania· Entry 2022
Yaak TechnologiesActive
MobilityGermany· Entry 2021
Germany· Entry 2021ZeframActive
SaaSDenmark· Entry 2020
Denmark· Entry 2020Realized
5 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Gaming | Denmark | 2021 | 2022 | Trade Sale | – | ||
| DevTools | Germany | 2020 | 2024 | Trade Sale | – | ||
| SaaS | Estonia | 2020 | 2026 | Trade Sale | – | ||
| Biotech | Denmark | 2021 | 2024 | Trade Sale | – | ||
| AI/ML | Germany | 2022 | 2024 | Trade Sale | – |
byFounders IVCHarvesting2017 · 9yr9 active · 4 realized
Unrealized
9 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Cybersecurity | US | 2018 | |
| HealthTech | Denmark | 2018 | |
| ClimateTech | Sweden | 2019 | |
| ClimateTech | Sweden | 2019 | |
| Industrials | Germany | 2019 | |
| MedTech | US | 2018 | |
| Gaming | US | 2019 | |
| InsurTech | US | 2018 | |
| AgTech | US | 2018 |
CobaltActive
CybersecurityUS· Entry 2018
US· Entry 2018CortiActive
HealthTechDenmark· Entry 2018
Denmark· Entry 2018GreenelyActive
ClimateTechSweden· Entry 2019
Sweden· Entry 2019NormativeActive
ClimateTechSweden· Entry 2019
Sweden· Entry 2019QuanticaActive
IndustrialsGermany· Entry 2019
Germany· Entry 2019QVINActive
MedTechUS· Entry 2018
US· Entry 2018RuneActive
GamingUS· Entry 2019
US· Entry 2019SafetyWingActive
InsurTechUS· Entry 2018
US· Entry 2018SpiioActive
AgTechUS· Entry 2018
US· Entry 2018Realized
4 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| LegalTech | Denmark | 2019 | 2025 | Trade Sale | – | ||
| EdTech | Denmark | 2017 | 2023 | Trade Sale | – | ||
| Software | Denmark | 2018 | 2022 | Trade Sale | – | ||
| AI/ML | Denmark | 2018 | 2024 | Trade Sale | – |
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Last updated August 2026 · Sourced from public filings · Report an issue