Likely buyers · AI/ML in Denmark.

1. Axcel SponsorVery High83

21 platform investments in Software & IT · 29 in Denmark · 14 deals 2024–26

Axcel VII · 2023 vintage · deploying · check €26-194M

15 platform investments since the 2023 vintage · largely deployed vs its usual 9 per fund.

Backed Bekk, 2026 · IT Services, Norway

2. Swanlaab Venture Factory SponsorVery High81

12 platform investments in Software & IT · 18 deals 2024–26

Swanlaab Innvierte Agrifood Tech · 2024 vintage · deploying

Accelerating: 15 deals in the last 2 years vs 1.3/yr before.

Backed Dolfin, 2026 · AI/ML, Spain

3. VækstPartner Kapital SponsorVery High81

15 platform investments in Software & IT · 23 in Denmark · 6 deals 2024–26

VPK Fond III · 2023 vintage · deploying · check €1-8M

9 platform investments since the 2023 vintage · largely deployed vs its usual 8 per fund.

Backed Capturi, 2021 · AI/ML, Denmark

4. BU Bregal Unternehmerkapital Multi-Asset Continuation Fund SponsorVery High80

18 platform investments in Software & IT · 2 in Denmark · 15 deals 2024–26

AUM €7.0B · BU Bregal Unternehmerkapital Multi-Asset Continuation Fund · 2026 vintage · deploying · check €16-122M

4 platform investments since the 2026 vintage · early in deployment vs its usual 9 per fund.

Bought Safety21 from BU Bregal Unternehmerkapital, 2026 · Software, Italy

5. EQT SponsorVery High79

40 platform investments in Software & IT · 19 in Denmark · 51 deals 2024–26

AUM €291.0B · EQT X · 2023 vintage · deploying · check €440M-3.3B

53 platform investments since the 2023 vintage · largely deployed vs its usual 11 per fund.

Backed Lovable, 2025 · AI/ML, Sweden

6. Nordic Capital SponsorVery High78

27 platform investments in Software & IT · 20 in Denmark · 14 deals 2024–26

AUM €39.0B · Nordic Capital Fund XI · 2023 vintage · deploying · check €180M-1.4B

15 platform investments since the 2023 vintage · mid-deployment vs its usual 22 per fund.

Backed Boost.ai, 2021 · AI/ML, Norway

7. Apax Partners SponsorVery High78

35 platform investments in Software & IT · 2 in Denmark · 21 deals 2024–26

AUM €70.8B · Apax XI · 2024 vintage · deploying · check €221M-1.7B

19 platform investments since the 2024 vintage · largely deployed vs its usual 12 per fund.

Backed RapidSOS, 2025 · AI/ML, US

8. Via Equity SponsorVery High78

27 platform investments in Software & IT · 26 in Denmark · 8 deals 2024–26

AUM €500M · VIA equity Fund V · 2023 vintage · deploying · check €5-38M

9 platform investments since the 2023 vintage · largely deployed vs its usual 8 per fund.

Backed Robopack Group, 2026 · Software, Denmark

9. Bregal Milestone SponsorVery High78

16 platform investments in Software & IT · 2 in Denmark · 7 deals 2024–26

AUM €1.3B · Bregal Milestone Fund III · 2026 vintage · deploying · check €18-137M

2 platform investments since the 2026 vintage · early in deployment vs its usual 8 per fund.

Backed MeteoViva, 2026 · AI/ML, Germany

10. Apax Partners (with NewAlpha) SponsorVery High77

30 platform investments in Software & IT · 1 in Denmark · 19 deals 2024–26

AUM €70.8B · Apax XI · 2024 vintage · deploying · check €221M-1.7B

19 platform investments since the 2024 vintage · largely deployed vs its usual 12 per fund.

Backed RapidSOS, 2025 · AI/ML, US

11. Apax Partners and Inova Capital SponsorVery High77

29 platform investments in Software & IT · 1 in Denmark · 19 deals 2024–26

AUM €70.8B · Apax XI · 2024 vintage · deploying · check €221M-1.7B

19 platform investments since the 2024 vintage · largely deployed vs its usual 12 per fund.

Backed RapidSOS, 2025 · AI/ML, US

12. Apax Partners and JMI Equity SponsorVery High77

29 platform investments in Software & IT · 1 in Denmark · 19 deals 2024–26

AUM €70.8B · Apax XI · 2024 vintage · deploying · check €221M-1.7B

19 platform investments since the 2024 vintage · largely deployed vs its usual 12 per fund.

Backed RapidSOS, 2025 · AI/ML, US

13. Apax Partners SAS SponsorVery High77

29 platform investments in Software & IT · 1 in Denmark · 19 deals 2024–26

AUM €70.8B · Apax XI · 2024 vintage · deploying · check €221M-1.7B

19 platform investments since the 2024 vintage · largely deployed vs its usual 12 per fund.

Backed RapidSOS, 2025 · AI/ML, US

14. BU Bregal Unternehmerkapital SponsorVery High77

17 platform investments in Software & IT · 2 in Denmark · 14 deals 2024–26

AUM €7.0B · BU Bregal Unternehmerkapital Multi-Asset Continuation Fund · 2026 vintage · deploying · check €16-122M

4 platform investments since the 2026 vintage · early in deployment vs its usual 9 per fund.

Backed Safety21, 2026 · Software, Italy

15. River Capital SponsorVery High77

6 platform investments in Software & IT · 9 deals 2024–26

AUM €153M · North West Private Equity Fund · 2023 vintage · deploying · check €0-2M

Accelerating: 7 deals in the last 2 years vs 1.8/yr before.

Backed Deltabase, 2026 · AI/ML, UK

16. Deutsche Telekom Capital Partners SponsorVery High76

34 platform investments in Software & IT · 9 deals 2024–26

DTCP Growth Equity III · 2022 vintage · partially deployed

15 platform investments since the 2022 vintage · largely deployed vs its usual 14 per fund.

Backed SPREAD AI, 2026 · AI/ML, Germany

17. Isai Gestion SponsorVery High75

61 platform investments in Software & IT · 32 deals 2024–26

AUM €458M · ISAI Expansion III · 2025 vintage · deploying · check €6-45M

25 platform investments since the 2025 vintage · largely deployed vs its usual 20 per fund.

Backed Tinyclues, 2017 · AI/ML, France

18. Deutsche Beteiligungs SponsorVery High75

13 platform investments in Software & IT · 2 in Denmark · 10 deals 2024–26

AUM €2.7B · DBAG Solvares Continuation Fund · 2024 vintage · deploying · check €3-20M

9 platform investments since the 2024 vintage · largely deployed vs its usual 8 per fund.

Backed Bug Bounty Switzerland, 2026 · Cybersecurity, Switzerland

19. Hg SponsorVery High75

49 platform investments in Software & IT · 3 in Denmark · 22 deals 2024–26

AUM €69.0B · Hg Mercury 4 · 2023 vintage · deploying · check €48-360M

24 platform investments since the 2023 vintage · largely deployed vs its usual 8 per fund.

Bought CUBE from Bregal Milestone, 2024 · AI/ML, UK

20. Oakley Capital SponsorVery High75

15 platform investments in Software & IT · 20 deals 2024–26

AUM €12.7B · Oakley Capital Fund VI · 2025 vintage · deploying · check €90-675M

10 platform investments since the 2025 vintage · largely deployed vs its usual 6 per fund.

Bought Senef from Isatis Capital, 2026 · SaaS, France

21. Bpifrance Investissement SponsorVery High74

6 platform investments in Software & IT · 1 in Denmark · 38 deals 2024–26

AUM €57.3B · Bpifrance Amorçage Industriel · 2023 vintage · deploying · check €1-8M

Accelerating: 32 deals in the last 2 years vs 5.8/yr before.

Backed Sekoia.io, 2025 · Cybersecurity, France

22. Deutsche Beteiligungs AG SponsorVery High74

12 platform investments in Software & IT · 2 in Denmark · 9 deals 2024–26

AUM €2.7B · DBAG Solvares Continuation Fund · 2024 vintage · deploying · check €3-20M

9 platform investments since the 2024 vintage · largely deployed vs its usual 8 per fund.

Backed Bug Bounty Switzerland, 2026 · Cybersecurity, Switzerland

23. Capmont SponsorVery High74

16 platform investments in Software & IT · 17 deals 2024–26

Capmont Technology Fund · 2024 vintage · deploying · check €2-15M

17 platform investments since the 2024 vintage · largely deployed vs its usual 15 per fund.

Backed Manex AI, 2025 · AI/ML, Germany

24. Adelis Equity Partners SponsorVery High74

13 platform investments in Software & IT · 6 in Denmark · 10 deals 2024–26

Adelis Equity Partners Fund IV · 2024 vintage · deploying · check €32-242M

4 platform investments since the 2024 vintage · mid-deployment vs its usual 7 per fund.

Bought Plenticon Group from Cadence Growth Capital, 2026 · IT Services, Germany

25. AFINUM Management GmbH SponsorVery High74

14 platform investments in Software & IT · 9 deals 2024–26

AFINUM X Buyout (2026) · 2026 vintage · deploying · check €10-75M

2 platform investments since the 2026 vintage · early in deployment vs its usual 9 per fund.

Backed Fairbanks, 2026 · SaaS, Netherlands