Vaekstfonden

Vaekstfonden, now operating as EIFO (Export and Investment Fund of Denmark) since its merger in April 2023, serves as the Danish state's official investment fund. Its primary mandate is to foster growth, innovation, and international competitiveness within Danish businesses. EIFO acts as a crucial financial partner, addressing market failures and providing risk capital where private markets may be hesitant. The fund's strategic objectives include supporting the green transition, enhancing digitalization, and boosting Danish exports, thereby contributing significantly to the nation's economic development and job creation.

EIFO employs a diverse range of financing instruments, including direct equity investments (venture and growth capital), loans, guarantees, and fund-of-funds investments. They are sector-agnostic but show particular strength in areas vital to Denmark's future, such as life sciences, deep tech, and green technologies. A key aspect of their strategy is co-investment, where EIFO often partners with private venture capital firms, angel investors, and banks. This collaborative approach not only amplifies the capital available to Danish companies but also de-risks investments for private partners, encouraging more private sector participation in high-growth ventures.

For direct equity investments, EIFO targets companies across various stages, from promising early-stage startups to established scale-ups seeking significant growth capital. While their investment tickets vary widely based on the company's stage and capital needs, typical first cheques for direct equity can range from approximately $150,000 for seed-stage companies to upwards of $10,000,000 for more mature growth-stage businesses. In 2023 alone, EIFO deployed a substantial DKK 14.8 billion (approximately $2.1 billion USD) across its various financing initiatives, with DKK 1.2 billion (approximately $170 million USD) specifically allocated to venture capital investments. This demonstrates their significant role in nurturing the Danish innovation ecosystem and driving economic progress.