Buyer landscape
Likely buyers · DevTools 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: 25 Tier 1 · 0 Tier 2 of 120 matched buyers, including 6 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. 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 Subit, 2026 · Software, Denmark
3. 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
4. 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.
Bought BMLL from ACF Investors, 2025 · Data & Analytics, UK
5. 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
6. 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
7. EQT SponsorVery High76
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 Mews, 2026 · SaaS, Netherlands
8. Apax Partners SponsorVery High76
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 Sedex, 2026 · Data & Analytics, UK
9. 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
10. Apax Partners (with NewAlpha) SponsorVery High75
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 Sedex, 2026 · Data & Analytics, UK
11. Apax Partners and Inova Capital SponsorVery High75
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 Sedex, 2026 · Data & Analytics, UK
12. Apax Partners and JMI Equity SponsorVery High75
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 Sedex, 2026 · Data & Analytics, UK
13. Apax Partners SAS SponsorVery High75
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 Sedex, 2026 · Data & Analytics, UK
14. 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
15. Swanlaab Venture Factory SponsorVery High75
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 Codee, 2023 · DevTools, Spain
16. 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 ProcurePro, 2026 · Software, Australia
17. 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
18. Hg SponsorVery High74
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.
Backed OneStream, 2026 · SaaS, US
19. 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
20. Bregal Milestone SponsorVery High74
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
21. 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
22. 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
23. YFM Equity Partners SponsorVery High73
26 platform investments in Software & IT · 23 deals 2024–26
AUM €878M · YFM Buyout Fund III · 2023 vintage · deploying · check €2-17M
32 platform investments since the 2023 vintage · largely deployed vs its usual 20 per fund.
Backed AutomatePro, 2023 · DevTools, UK
24. Oakley Capital, Eurazeo, Sagard NewGen (I-Tracing platform) SponsorVery High73
15 platform investments in Software & IT · 19 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.
Backed Senef, 2026 · Software, France
25. Cipio Partners SponsorVery High73
19 platform investments in Software & IT · 2 in Denmark · 8 deals 2024–26
Cipio Partners Fund VIII · 2021 vintage · partially deployed · check €4-30M
Accelerating: 6 deals in the last 2 years vs 1.8/yr before.
Backed Giraffe360, 2026 · SaaS, UK
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.