Buyer landscape
Likely buyers · AI/ML in Denmark.
Prepared 2026-08-28 with GP Intel · deterministic scoring, published weights: gp-intel.com/methodology/league-tables
How companies like this sold · 80 verified exits: 29% to sponsors, 60% to corporates and platforms, 11% via IPO. Route shift since 2020: sponsors 21% (was 21%), corporates and platforms 75% (was 73%), IPO 3% (was 6%) (sector-wide).
The list: 24 Tier 1 · 1 Tier 2 of 120 matched buyers, including 10 geographic expansion candidates without a local platform yet. A first round of the Tier 1 names plus the expansion buyers covers the demonstrated demand.
Financial buyers · 25
Tier 1 · Very High · score 70+
1. Axcel SponsorVery High83
20 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. 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
18. Hg SponsorVery High75
48 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
19. 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
20. Isai Gestion SponsorVery High74
61 platform investments in Software & IT · 30 deals 2024–26
AUM €458M · ISAI Expansion III · 2025 vintage · deploying · check €6-45M
23 platform investments since the 2025 vintage · largely deployed vs its usual 20 per fund.
Backed Tinyclues, 2017 · AI/ML, France
21. 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
22. 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
23. Standout SponsorVery High74
14 platform investments in Software & IT · 3 in Denmark · 5 deals 2024–26
Standout Capital II · 2021 vintage · partially deployed · check €3-23M
9 platform investments since the 2021 vintage · largely deployed vs its usual 9 per fund.
Bought Group Online from CataCap Management, 2026 · IT Services, Denmark
Tier 2 · High · score 50+
24. Visma PE-backedHigh73
164 acquisitions in Software & IT · 37 in Denmark · 55 deals 2024–26 · add-on program under General Atlantic / Hg
Platform held 6 yrs · likely exiting
Active in Denmark since 2009.
Added on Finmatics, 2025 · AI/ML, Austria
Tier 1 · Very High · score 70+
25. Bpifrance Investissement SponsorVery High73
5 platform investments in Software & IT · 1 in Denmark · 35 deals 2024–26
AUM €57.3B · Bpifrance Amorçage Industriel · 2023 vintage · deploying · check €1-8M
Accelerating: 30 deals in the last 2 years vs 4.5/yr before.
Backed Sekoia.io, 2025 · Cybersecurity, France
Scores and facts derive from verified deal records only; sample floors and thresholds are published on the methodology page. Figures marked with a tilde are bands, not disclosures.