# Northcap

> Northcap is a VC fund in Copenhagen backing Software and SaaS. See 28 investments, check sizes, portfolio and contact details. Updated Aug 2026.

- Type: VC Fund
- Location: Copenhagen, Denmark
- Total investments: 28
- Last investment: Sep 2020
- Lead investor: 21%
- Fund size: $82M
- Last fund: Jun 2012
- Last updated: Aug 2026
- LinkedIn: http://www.linkedin.com/company/northcap-partners
- X (Twitter): http://twitter.com/Northcapvc
- Website: http://www.northcap.vc
- Facebook: https://www.facebook.com/NorthcapVC/

Northcap is a venture capital company that provides funds and support for ICT companies based on the technologies of cloud computing, communications, mobile and mobility, online services, and e-commerce. It funds companies in three stages of development such as seed stage: invests in Danish companies from the first revenue onwards; early stage:invests i companies with a proven business model and a revenue of €1-2 million or more in the Northern part of Europe; and growth stage: invests in well-established Northern European companies with a revenue of €10-25 million.Northcap covers several essential areas of technology businesses development, including strategy, internationalization, sales processes, recruitment of employees, and organization.Northcap is based in Copenhagen, Denmark.

## Contacts

5 contacts available for Northcap. Shizune tracks 5 team members at Northcap. Sign up free to unlock them: https://app.shizune.co/sign-up/investor-profiles/find-team-emails/northcap?utm_source=investor_profile

## Round sizes

| Stage | Round size |
| --- | --- |
| Series A | $2M–$9M |
| Series B | $4.2M–$20M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Software | 10 | 36% |
| SaaS | 5 | 18% |
| Mobile | 4 | 14% |
| Enterprise Software | 3 | 11% |
| Information Technology | 3 | 11% |

53 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Series B | 6 | 21% |
| Funding Round | 6 | 21% |
| Series A | 5 | 18% |
| Seed | 3 | 11% |
| Series C | 2 | 7% |

7 stages tracked in total.

### Country

| Country | Investments | Share |
| --- | --- | --- |
| Denmark | 10 | 36% |
| United States | 7 | 25% |
| Sweden | 1 | 4% |
| United Kingdom | 1 | 4% |
| The Netherlands | 1 | 4% |

## Team

| Name | Title | Investments | Profile |
| --- | --- | --- | --- |
| Frank Ewald | Member, Advisory Board | 0 | https://shizune.co/investors/profile/frank-ewald |
| Kenneth Dambo | Early Stage Investor | 1 | https://shizune.co/investors/profile/kenneth-dambo |
| Kim Wiencken | General Partner | 2 | https://shizune.co/investors/profile/kim-wiencken |
| Lars Bruhn | Chairman & Founder | 0 | https://shizune.co/investors/profile/lars-bruhn |
| Thomas Weilby Knudsen | General Partner | 10 | https://shizune.co/investors/profile/thomas-weilby-knudsen |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Visiopharm | Visiopharm image analysis and stereology software has become the preferred Quantitative Digital Pathology solution for leading biopharmaceutical companies, contract research organizations (CRO), academic medical centers, research institutes, and hospitals all over the world. Recently, Visiopharm has expanded to include ONCOtopix™ Dx a robustsolution for cancer diagnostics with CE-IVD algorithms for the breast panel, integrated LIS driven workflow, and Virtual Double Staining. Their software is featured in over 800 scientific publications, and is compatible with leading slide scanner manufacturers, data management software, and a wide variety of microscopes and cameras.Visiopharm, a privately owned company, was founded in 2001 by the Managing Director, and Chief Executive Officer, Michael Grunkin and the Chief Technical officer, Johan Doré Hansen, who both have a strong scientific and practical background in image analysis.Their company has grown into an international business with over 500 licenses in more than 30 countries. Their growing network of authorized distributors and partners support the growth of Visiopharm solutions on several continents including North America, Europe and Asia. Their headquarters is located in the Medicon Valley of Denmark, with a branch office in the Netherlands, and a North America office in Broomfield, Colorado. |  |  | Sep 01, 2020 |  |
| Visiopharm | Visiopharm image analysis and stereology software has become the preferred Quantitative Digital Pathology solution for leading biopharmaceutical companies, contract research organizations (CRO), academic medical centers, research institutes, and hospitals all over the world. Recently, Visiopharm has expanded to include ONCOtopix™ Dx a robustsolution for cancer diagnostics with CE-IVD algorithms for the breast panel, integrated LIS driven workflow, and Virtual Double Staining. Their software is featured in over 800 scientific publications, and is compatible with leading slide scanner manufacturers, data management software, and a wide variety of microscopes and cameras.Visiopharm, a privately owned company, was founded in 2001 by the Managing Director, and Chief Executive Officer, Michael Grunkin and the Chief Technical officer, Johan Doré Hansen, who both have a strong scientific and practical background in image analysis.Their company has grown into an international business with over 500 licenses in more than 30 countries. Their growing network of authorized distributors and partners support the growth of Visiopharm solutions on several continents including North America, Europe and Asia. Their headquarters is located in the Medicon Valley of Denmark, with a branch office in the Netherlands, and a North America office in Broomfield, Colorado. | $13.5M |  | Aug 23, 2018 |  |
| Falcon.io | Falcon.io offers a unified SaaS platform for social media listening, engaging, publishing and managing customer data. Falcon clients can explore the full potential of digital marketing by managing multiple customer touch points from one platform.The diverse and global client portfolio includes Carlsberg, Tiger, Columbia University, IWC Watches,Momondo, Coca-Cola and much more. | $7M | Series C | Feb 15, 2017 |  |
| GAN Integrity | GAN Integrity is a provider of a completely integrated compliance solution for global businesses. GAN Integrity’s all-in-one platform for compliance teams is the first of its kind, connecting all aspects of a corporate compliance program into a single, cloud-based solution. Today, many of the world's leading brands trust GAN’s innovativesoftware to help them better manage compliance. | $9M | Series A | Feb 01, 2017 |  |
| Znipe | Znipe organizes and orchestrates digital events for its clientele and client base. | $1.2M |  | Jul 07, 2016 |  |
| Linkfire | We’re a passionate team of music techies on a mission to make music consumption easier for fans, labels and artists. The music industry is transforming constantly, the market is fragmented and split across many different platforms and services. Physical sales are going down. Streaming is gaining momentum. The transformation will continue and theyears to come will be very interesting. We want to contribute to the transformation by bringing music and fans closer. Not inside music services, but outside where fans and artists engage. Our approach is to index digital music across music services and provide smart links that route fans directly to the music regardless of their location or which player or platform they use. It’s complex. We make it simple. | $2.4M | Seed | Sep 16, 2015 |  |
| Colego | Colego functions by allowing users to search for a particular category and to then submit tasks, whether related to gardening, bookkeeping, auto-repair, legal services, or other area, describing in detail the work that the user needs completed. Users are not immediately connected with bidders, however, as Colego takes applications, verifies thetask, and then submits it to companies that meet a certain quality and set of requirements. From there, the users receive 3 free price-quotes from interested contractors and move to negotiate the terms. They are not stuck if they decide that they do not particularly like any of the offers, as they can simply contact Colego and cancel the process. The search aspect is free to users, but Colego tells me that they generate revenue by taking a lead-generation fee from each company that chooses to bid on a particular task. | $3.3M | Series A | Jun 01, 2015 |  |
| Falcon.io | Falcon.io offers a unified SaaS platform for social media listening, engaging, publishing and managing customer data. Falcon clients can explore the full potential of digital marketing by managing multiple customer touch points from one platform.The diverse and global client portfolio includes Carlsberg, Tiger, Columbia University, IWC Watches,Momondo, Coca-Cola and much more. | $20M | Series B | Mar 24, 2015 |  |
| Colego | Colego functions by allowing users to search for a particular category and to then submit tasks, whether related to gardening, bookkeeping, auto-repair, legal services, or other area, describing in detail the work that the user needs completed. Users are not immediately connected with bidders, however, as Colego takes applications, verifies thetask, and then submits it to companies that meet a certain quality and set of requirements. From there, the users receive 3 free price-quotes from interested contractors and move to negotiate the terms. They are not stuck if they decide that they do not particularly like any of the offers, as they can simply contact Colego and cancel the process. The search aspect is free to users, but Colego tells me that they generate revenue by taking a lead-generation fee from each company that chooses to bid on a particular task. | $2M | Series A | Mar 24, 2015 |  |
| Sekoia | Digital care planning helps care staff gain an overview of their day. Its their entire workflow gone digital, with apps to record, share and access information directly at the point of care. The overarching documentation is structured to support any reporting or inspection framework. Using big data and AI in Sekoia will help care providers movefrom simply documenting to utilising information from their services to predict care needs and prevent errors and incidents. Care services around the world are experiencing a heated climate, as an ageing population, funding crisis and staff shortages puts them under severe pressure. Hence, the care sector is desperate for efficiency and quality aids that harness this complex trend. | $3M | Series A | Mar 05, 2015 |  |

10 of 28 investments shown.

## Co-investors
- [Kennet Partners](https://shizune.co/investors/profile/kennet-venture-partners) — VC Fund, 3 deals together
- [Target Partners](https://shizune.co/investors/profile/target-partners) — VC Fund, 3 deals together
- [OpenView](https://shizune.co/investors/profile/openview-venture-partners) — VC Fund, 2 deals together
- [Prime Ventures](https://shizune.co/investors/profile/prime-technology-ventures) — VC Fund, 2 deals together
- [ATP](https://shizune.co/investors/profile/atp-23b6) — VC Fund, 1 deal together
- [BankInvest](https://shizune.co/investors/profile/bankinvest) — VC Fund, 1 deal together

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## FAQ

### What does Northcap invest in?

Northcap invests primarily in Software, SaaS and Mobile startups, most often at Series B and Funding Round stage. Most of the 28 investments tracked by Shizune back companies in Denmark. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is Northcap's check size?

Northcap typically joins rounds of $2M–$9M at Series A and $4.2M–$20M at Series B. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds Northcap participates in.

### How do I contact Northcap?

Public channels for Northcap include LinkedIn, X (Twitter) 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 Northcap?

The team at Northcap includes Frank Ewald (Member, Advisory Board), Kenneth Dambo (Early Stage Investor) and Kim Wiencken (General Partner). 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.

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