# Nordic Secondary Fund

> Nordic Secondary Fund is a VC fund backing Software and E-Commerce. See 37 investments, check sizes, portfolio and contact details. Updated Aug 2026.

- Type: VC Fund
- Location: Copenhagen, Denmark
- Total investments: 37
- Last investment: Jun 2025
- Lead investor: 24%
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/company/nordic-secondary-fund/
- Website: https://www.n2f.vc/

Nordic Secondary Fund is a VC fund in Copenhagen focused on Software and E-Commerce. Nordic Secondary Fund was established in 2019 with the purpose of buying secondaries in companies, which are characterized by:- Have completed a Series-A capital raising from venture capital or corporate venture - Proven scalable business models: Documented market for the companies products or servicesThe investment focus is European scaleupsPost Series-SA, mainly on Nordic and Baltic companies

## Contacts

5 contacts available for Nordic Secondary Fund. Shizune tracks 6 team members at Nordic Secondary Fund. Sign up free to unlock them: https://app.shizune.co/sign-up/investor-profiles/find-team-emails/nordic-secondary-fund?utm_source=investor_profile

## Round sizes

| Stage | Round size |
| --- | --- |
| Secondary Market | $2.4M–$9.4M |
| Venture - Series Unknown | $3.3M–$6M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Software | 8 | 22% |
| E-Commerce | 5 | 14% |
| Financial Services | 5 | 14% |
| FinTech | 4 | 11% |
| SaaS | 3 | 8% |

101 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Secondary Market | 32 | 86% |
| Venture - Series Unknown | 2 | 5% |
| Series A | 1 | 3% |
| Private Equity | 1 | 3% |

### Country

| Country | Investments | Share |
| --- | --- | --- |
| Denmark | 9 | 24% |
| Sweden | 7 | 19% |
| Finland | 6 | 16% |
| Latvia | 2 | 5% |
| Norway | 2 | 5% |

11 countries tracked in total.

## Team

| Name | Title | Investments | Profile |
| --- | --- | --- | --- |
| Peter Sandberg | Managing Partner & Co-founder | 17 | https://shizune.co/investors/profile/peter-sandberg |
| Frank Lyhne Hansen | Partner & Co-Founder | 0 | https://shizune.co/investors/profile/frank-lyhne-hansen |
| Henrik Juul | Head of Legal & Administration | 0 | https://shizune.co/investors/profile/henrik-juul-85fc |
| Julie Breusch | Executive Assistant | 0 | https://shizune.co/investors/profile/julie-breusch |
| Karl Emil Uhre Christensen | Investment Manager | 0 | https://shizune.co/investors/profile/karl-emil-uhre-christensen |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Pistachio | Pistachio is a fully automated cybersecurity awareness training and attack simulation platform. |  | Secondary Market | Jun 30, 2025 |  |
| Wingcopter | Wingcopter is an award-winning German developer, manufacturer, and operator of unmanned eVTOL fixed-wing aircraft dedicated to improving the lives of people worldwide through meaningful commercial and humanitarian applications. The start-up focuses on the delivery of goods such as medicines to remote health facilities, packages, and food to privatehouseholds. With their unique, patented tilt-rotor mechanism, the electrically powered Wingcopters far exceed the range and payload capabilities of commercial multicopter drones. Taking off and landing vertically like multicopters, Wingcopters fly long distances as efficiently and quickly as fixed-wing aircraft, reaching ranges of up to 75 miles (120 kilometers) and a Guinness world record speed of 150 mph (240 km/h). Even in strong winds of up to 44 mph (71 km/h) or inclement weather, Wingcopters fly autonomously and reliably.Wingcopters are also used for the efficient inspection of public infrastructure and for long-range mapping applications.In 2020, Wingcopter was named a Technology Pioneer by the World Economic Forum. |  | Secondary Market | Jun 26, 2025 |  |
| Wingcopter | Wingcopter is an award-winning German developer, manufacturer, and operator of unmanned eVTOL fixed-wing aircraft dedicated to improving the lives of people worldwide through meaningful commercial and humanitarian applications. The start-up focuses on the delivery of goods such as medicines to remote health facilities, packages, and food to privatehouseholds. With their unique, patented tilt-rotor mechanism, the electrically powered Wingcopters far exceed the range and payload capabilities of commercial multicopter drones. Taking off and landing vertically like multicopters, Wingcopters fly long distances as efficiently and quickly as fixed-wing aircraft, reaching ranges of up to 75 miles (120 kilometers) and a Guinness world record speed of 150 mph (240 km/h). Even in strong winds of up to 44 mph (71 km/h) or inclement weather, Wingcopters fly autonomously and reliably.Wingcopters are also used for the efficient inspection of public infrastructure and for long-range mapping applications.In 2020, Wingcopter was named a Technology Pioneer by the World Economic Forum. | $9.4M | Secondary Market | Dec 22, 2024 |  |
| Remora Robotics | Remora Robotics is a Norwegian technology firm that specializes on aquaculture robotics. |  | Secondary Market | Nov 01, 2024 |  |
| Minut | Minut is a computer software company that specializes in product design, hardware, electronics, software, IoT, and smart home. Its technology helps individuals to keep their house secure and manage their house security using their smartphones. The company was founded in 2014 and headquartered in Malmö, Skane Lan. |  | Secondary Market | Aug 11, 2024 |  |
| Swappie | Swappie specializes in the refurbishment and sale of used smartphones, particularly iPhones. The company buys used smartphones, refurbishes them to a high standard, and then sells them to consumers at competitive prices. Their process includes rigorous testing, repair, and quality assurance to ensure that each phone meets their quality standards.Swappie ensures that all refurbished phones undergo a comprehensive 52-step testing process. This includes checking for hardware and software functionality, replacing defective parts, and thoroughly cleaning each device. |  | Secondary Market | Aug 10, 2024 |  |
| Nosto | Nosto brings solutions for online marketing automation for the global e-commerce industry. The company’s platform-independent SaaS solution enhances customers’ online shopping experience by enabling personalized product recommendations in real time. Its plug and play solution makes the technology easily accessible to online stores of allsize, automating marketing activities and increasing conversion, customer retention and store revenues as a result. Nosto’s first customers include leading brands like Angry Birds, Intersport, JOY, Reima, Outnorth and Sanoma’s Huuto. | $7.6M | Secondary Market | May 20, 2024 |  |
| DTE ehf | DTE introduces breakthrough real-time process control analytics for metals production and processing towards Industry 4.0, through our robotic hardware and software solutions, automating current manual sampling processes for improved quality, cost, efficiency and safety. | $2.4M | Secondary Market | Oct 16, 2023 |  |
| Cleveron | The mission of Cleveron is to make sending and reception of parcels as effective, fast, convenient and favorably priced as possible by offering the modern technology based solutions. Cleveron’s goal is to provide the clients with clearly measurable value by using its products, which will ensure a pay-off to the investment. | $3.7M | Secondary Market | Sep 18, 2023 |  |
| Varjo | Varjo develops VR/XR hardware and software for industrial use, merging the real and virtual worlds seamlessly together in human-eye resolution. | $3.3M | Venture - Series Unknown | Apr 03, 2023 |  |

10 of 37 investments shown.

## Co-investors
- [Almaz Capital](https://shizune.co/investors/profile/almaz-capital) — VC Fund, 1 deal together
- [Bonnier Capital](https://shizune.co/investors/profile/bonnier-ventures) — VC Fund, 1 deal together
- [European Investment Bank](https://shizune.co/investors/profile/european-investment-bank) — VC Fund, 1 deal together
- [First Fellow Partners](https://shizune.co/investors/profile/first-fellow-partners) — VC Fund, 1 deal together
- [Salica](https://shizune.co/investors/profile/hambroperksltd) — VC Fund, 1 deal together
- [HMI Capital](https://shizune.co/investors/profile/hmi-capital) — VC Fund, 1 deal together

## Similar investors

### Similar industry
- [Antler](https://shizune.co/investors/profile/antler-be9c) — VC Fund
- [Alumni Ventures](https://shizune.co/investors/profile/alumni-ventures-group) — VC Fund
- [Right Side Capital Management](https://shizune.co/investors/profile/right-side-capital-management) — VC Fund

### Similar stage
- [Salica](https://shizune.co/investors/profile/hambroperksltd) — VC Fund
- [Growth Engine](https://shizune.co/investors/profile/growth-engine-2cd7) — VC Fund
- [Marco Valta](https://shizune.co/investors/profile/marco-valta) — Angel Investor

### Similar country
- [Imprimatur Capital Fund Management](https://shizune.co/investors/profile/imprimatur-capital) — VC Fund
- [Expansion Capital](https://shizune.co/investors/profile/expansion-capital) — VC Fund
- [ZGI Capital](https://shizune.co/investors/profile/zgicapital) — VC Fund

## Featured in investor lists
- [All Investors in Latvia](https://shizune.co/investors/investors-latvia)
- [All VC Funds in Latvia](https://shizune.co/investors/vc-funds-latvia)
- [Artificial intelligence Investors in Denmark](https://shizune.co/investors/artificial-intelligence-investors-denmark)
- [Artificial intelligence VC Funds in Denmark](https://shizune.co/investors/artificial-intelligence-vc-funds-denmark)
- [Hardware VC Funds in Denmark](https://shizune.co/investors/hardware-vc-funds-denmark)
- [Media (entertainment) Investors in Latvia](https://shizune.co/investors/media-entertainment-investors-latvia)

## FAQ

### What does Nordic Secondary Fund invest in?

Nordic Secondary Fund invests primarily in Software, E-Commerce and Financial Services startups, most often at Secondary Market and Venture - Series Unknown stage. Most of the 37 investments tracked by Shizune back companies in Denmark. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is Nordic Secondary Fund's check size?

Nordic Secondary Fund typically joins rounds of $2.4M–$9.4M at Secondary Market and $3.3M–$6M at Venture - Series Unknown. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds Nordic Secondary Fund participates in.

### How do I contact Nordic Secondary Fund?

Public channels for Nordic Secondary Fund include LinkedIn and the website linked on this profile. For a verified work email and phone number, create a free Shizune account — contact data is searched across 20+ sources and validated before delivery, so your outreach lands in the right inbox.

### Who are the partners at Nordic Secondary Fund?

The team at Nordic Secondary Fund includes Peter Sandberg (Managing Partner & Co-founder), Frank Lyhne Hansen (Partner & Co-Founder) and Henrik Juul (Head of Legal & Administration), among 6 team members tracked by Shizune. The Team section lists each member with their title, investment count and links.

### 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.

# About Shizune
Shizune.co is an investor database. Core features:
- 48,091 startup investors (angels, VCs, accelerators, and others)
- Email, phone, LinkedIn (for intros), socials, and other contact data
- Updated daily from public funding news
- CSV and Excel export

The User can access the full database FOR FREE after signing up: shizune.co