Ugly Duckling Ventures
Ugly Duckling Ventures is a Copenhagen-based, GP-only Nordic early-stage venture firm founded in 2021 that invests at pre-seed and early seed across three themes: medtech, resilience tech and business software. It runs two closed-end funds, Fund I (DKK 153M, final close 2023) and Fund II branded UDV The Nest Fund II (DKK 260M, final close May 2026 with EIFO as an LP), and is led by partners Andreas Green Rasmussen, Rune Hven-Jensen and Louise Lachmann. Note: the onboarding brief labeled the firm German, but the official site confirms it is Danish and headquartered in Copenhagen.
Key facts
Recent exits
Coverage notes
2 funds tracked, 17 portfolio companies (16 active · 1 realized). Verified weekly from public filings and deal announcements.
Sector breakdown
17 companiesFunds & portfolio
Every fund Ugly Duckling Ventures has raised, with its portfolio companies. Hand-checked from public filings.
Fund IIVCHarvesting2023 · 3yr€35M8 active
Unrealized
8 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Data & Analytics |  Finland | 2025 | |
| Biotech |  Sweden | 2025 | |
| Fintech |  Denmark | 2026 | |
| HR Tech | Denmark | 2025 | |
| AI/ML | Denmark | 2026 | |
| SaaS | Denmark | 2025 | |
| Fintech | Denmark | 2023 | |
| AI/ML | Denmark | 2026 |
Finland· Entry 2025Sweden· Entry 2025Denmark· Entry 2026Denmark· Entry 2025Denmark· Entry 2026Denmark· Entry 2025Denmark· Entry 2023Denmark· Entry 2026Fund IVC2021 · 5yr€21M8 active · 1 realized
Unrealized
8 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| ClimateTech | Denmark | 2023 | |
| EdTech | Denmark | 2023 | |
| MedTech | Denmark | 2022 | |
| EdTech | Denmark | 2023 | |
| Cybersecurity | Denmark | 2024 | |
| ClimateTech | Finland | 2025 | |
| SaaS | Denmark | 2026 | |
| SaaS | Denmark | 2021 |
Denmark· Entry 2023Denmark· Entry 2023Denmark· Entry 2022Denmark· Entry 2023Denmark· Entry 2024Finland· Entry 2025Denmark· Entry 2026Denmark· Entry 2021Saved GPs appear in your watchlist, one click from your workspace.
Similar firms
Other private equity firms tracked on GP Intel.
Denmark·€93.0B
Denmark·€700MDenmark·€500MDenmark·€300M
Denmark·€107MDenmark·€80MDenmark·€5MDenmarkDenmark
DenmarkDenmark
DenmarkGet the full picture on Ugly Duckling Ventures.
Free. No credit card. 30 seconds. Exit buyers and MOIC on Pro.
Already a member? Sign in