# Impact Fund Denmark

> Impact Fund Denmark is a VC fund backing Energy, Renewable Energy and Financial Services. See 31 investments, check sizes, portfolio. Updated Aug 2026.

- Type: VC Fund
- Total investments: 31
- Last investment: Jul 2026
- Lead investor: 58%
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/company/ifu
- Website: http://www.ifu.dk/en

Impact Fund Denmark is a VC fund focused on Energy and Renewable Energy. Provider of advisory services & risk capital to Danish companies wishing to do business in developing countries and emerging markets

## Round sizes

| Stage | Round size |
| --- | --- |
| Debt Financing | $8M–$600M |
| Private Equity | $38M–$250M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Energy | 10 | 32% |
| Renewable Energy | 8 | 26% |
| Financial Services | 8 | 26% |
| Solar | 6 | 19% |
| Finance | 6 | 19% |

47 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Private Equity | 7 | 23% |
| Funding Round | 6 | 19% |
| Debt Financing | 5 | 16% |
| Venture - Series Unknown | 4 | 13% |
| Series C | 3 | 10% |

9 stages tracked in total.

### Country

| Country | Investments | Share |
| --- | --- | --- |
| India | 10 | 32% |
| Kenya | 3 | 10% |
| France | 2 | 6% |
| Mauritius | 2 | 6% |
| Benin | 1 | 3% |

15 countries tracked in total.

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| ETG | ETG, established in 1967, is one of the largest and fastest growing integrated agricultural conglomerates in sub-Saharan Africa, importing and exporting soft commodities to and from 48 countries including Tanzania, Kenya, Malawi, Mozambique, Nigeria and South Africa. It also has supply chain operations in China, India, America, Middle East, andSouth East Asia; merchandising desks in Europe, and; treasury companies in Singapore, Mauritius and UAE. Globally, ETG is present across 48 countries. ETG runs its business under five business verticals: 1. Fertilizer and Farm Inputs: ETG is one of the largest importers and distributors of fertilizers and farm inputs in sub-saharan africa 2. Cash traded products: Pulses, Sesame seed, Cashew and Rice are key commodities in this vertical. ETG is the world largest trader and processor of Pulses as well as world largest trader for raw cashew nuts. 3. Exchange traded commodities: Grains & oilseeds, sugar, coffee, cocoa, maize and soybean are key products in this segment. ETG is one of the major players for maize and soybean in sub-shara africa 4. Consumer Branded (Vamara): ETG operates multiple processing plants across 14 countries to manufacture products that are targeted to African consumers. ETG has 22 brands in its portfolio that offers products from vegetable cooking oil, condiments, and spreads, etc. 5. Logistics: ETG operates a very successful and integrated Logistics platform. ETG has a network of more than 400+ warehouses across 32 countries and a fleet of more than 900 trucks. ETG provided end-to-end Logistics services across sub-Sahara Africa. | $600M | Debt Financing | Jul 30, 2026 |  |
| NSIA Bank | NSIA Bank is a banking institution that provides services like saving and investment solutions, account opening, credit facility . | $28.6M | Post-IPO Debt | Jul 09, 2026 |  |
| Spironet | SpiroNet is an electric motorcycle and scooter company that is revolutionizing the two-wheelers sector in Africa. They offer custom-made ebike solutions that support the specific needs of each country, and they are committed to making better choices than conventional mobility and encouraging mass adoption of electric vehicles. | $215M | Private Equity | Jun 01, 2026 |  |
| Atome Energy | Atome Energy is the green hydrogen and ammonia project development company to create a greener, cleaner environment. | $245M | Post-IPO Equity | Apr 23, 2026 |  |
| BlackSoil | Blacksoil Advisory is an independent boutique advisory firm that provides consultation and financing resources. The firm has extensive experience working with start-ups, high-growth companies, and real estate developers with tailor-made investment products, with the goal of creating value for all stakeholders.The BlackSoil team has theexperience to understand what companies across all stages require, and is able to provide advisory and debt funding facilities that meet the real-world demands of growing businesses and equity sponsors and investors. | $21.6M | Debt Financing | Mar 18, 2026 |  |
| Radiance Renewables | Radiance Renewables is one of India’s fastest-growing renewable energy solution providers. | $100M | Private Equity | Feb 09, 2026 |  |
| Mydawa | MYDAWA is a new and innovative service that allows anyone buy wide range of high quality medication and wellness products affordably and conveniently from your mobile phone. |  | Venture - Series Unknown | Apr 30, 2025 |  |
| Ecofy | Ecofy is a green-only NBFC in India, offering financial solutions for eco-friendly initiatives, including loans, leases, and insurance. | $12.5M | Debt Financing | Mar 25, 2025 |  |
| AKS Khan Pharmaceutical | AKS Khan Pharmaceutical offers expert counsel, cutting-edge technology, and comprehensive care for a healthier life. | $12.5M | Venture - Series Unknown | Jan 23, 2025 |  |
| Powergen Renewable Energy | PowerGen is leading the clean energy transition in Africa as a developer, builder, and operator of solar mini-grids throughout the continent. PowerGen is backed by sector leaders including Shell, Acumen, Omidyar Network, Sumitomo, DOB Equity, ElectriFI, REPP, and the Rockefeller Foundation. PowerGen has pioneered the solar mini-grid sector inAfrica and is a founding member of the Africa Mini-grid Developers Associaiton (AMDA). | $50M | Series C | Jan 16, 2025 |  |

10 of 31 investments shown.

## Co-investors
- [Augment Infrastructure](https://shizune.co/investors/profile/augment-infrastructure) — VC Fund, 4 deals together
- [EDFI ElectriFI](https://shizune.co/investors/profile/electrification-financing-initiative) — VC Fund, 3 deals together
- [FMO](https://shizune.co/investors/profile/fmo) — VC Fund, 3 deals together
- [AXA Group](https://shizune.co/investors/profile/axa) — VC Fund, 2 deals together
- [Danish Investment Fund for Developing Countries](https://shizune.co/investors/profile/danish-investment-fund-for-developing-countries) — VC Fund, 2 deals together
- [European Investment Bank](https://shizune.co/investors/profile/european-investment-bank) — VC Fund, 2 deals together

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## FAQ

### What does Impact Fund Denmark invest in?

Impact Fund Denmark invests primarily in Energy, Renewable Energy and Financial Services startups, most often at Private Equity and Funding Round stage. Most of the 31 investments tracked by Shizune back companies in India. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is Impact Fund Denmark's check size?

Impact Fund Denmark typically joins rounds of $8M–$600M at Debt Financing and $38M–$250M at Private Equity. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds Impact Fund Denmark participates in.

### When did Impact Fund Denmark last invest?

The most recent investment recorded for Impact Fund Denmark closed in Jul 2026. Shizune tracks 31 investments in total for this profile, including round sizes, stages and portfolio companies, all sourced from confirmed public funding rounds and refreshed monthly.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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