New Aarhus-based venture fund raises DKK 600 million for research-intensive innovation and growth
The Aarhus University Research Foundation, HEARTLAND, Norlys and Salling Group are united in their ambition to drive growth in the startup ecosystem across East and Central Jutland, with a particular focus on startups that emerge from research. To achieve this ambition, the four partners have joined forces to establish a new venture fund, Delphinus Venture Capital, at the intersection of innovation, capital and entrepreneurship, where visionary entrepreneurs will be given the best opportunities to scale their ideas into global solutions. Delphinus is an evergreen fund that will invest from the pre-seed to scale-up stage, with a longer-term perspective on value creation than traditional venture funds.
The four founding partners recently appointed Mathias Brink Lorenz as the director of the new fund.
Lorenz emphasises that the Danish venture capital scene has evolved significantly in recent years, with increasing interest from international funds – especially in knowledge-based and technology-driven companies. He’s delighted that the new fund will provide the region with an investor to support companies through their entire start-up journey.
“Innovation takes time, courage and capital. Unlike traditional venture funds, Delphinus has been intentionally set up with a structure that enables long-term commitment and flexibility in our investments. We can and will participate as an investor from the very early stages through to the late growth stage. This is how we can make a real difference for the companies we invest in,” he says.
Lorenz brings with him international venture capital experience, having most recently served as Investment Director at the European Circular Bioeconomy Fund in Germany. In this role, he focused on identifying and executing investments in research-intensive startups across Europe.
Researchers given even better opportunities to drive societal development
Brian Bech Nielsen, chair of the Aarhus University Research Foundation board and rector of Aarhus University, describes the creation of the new fund as a quantum leap in the university’s commitment to supporting the development of new research-intensive companies.
“This unique partnership being created in our region will ensure that research ideas are transformed into sustainable, commercially viable companies. Speaking for the university, I’m particularly excited that this major backing will give even more researchers the chance to finance their entrepreneurial ideas. Both the bold, early-stage ideas undergoing proof-of-concept testing and the proven solutions closer to market launch. With this support, AU’s researchers will be even better equipped to drive the development of our society that is so important, and we at the Aarhus University Research Foundation are thrilled to be able to support this vital task,” says Nielsen.
Close ties to business and industry
Alongside its close connection to Aarhus University, the fund’s other partners – three of the region’s leading companies – bring a broader, business-oriented perspective on innovation and growth, both locally and across Denmark. They see Delphinus Venture Capital as a catalyst for the next generation of entrepreneurial talent.
Lise Kaae, CEO of HEARTLAND:
“At HEARTLAND, we are proud to support the creation of Delphinus. We believe it has great potential to improve access to long-term, locally anchored financing for promising, high-growth companies. This is an important ambition that we look forward to pursuing – and actively contributing to – in the years ahead.”
Anne Mette Aaby Aes, CFO of Norlys:
“Developing the solutions of the future takes time. As a cooperative, our ownership model means we can be patient investors, giving entrepreneurs the time they need to develop their ideas into successful businesses. At Norlys, we’re also committed to using the fund to create and maintain research-intensive jobs in East Jutland.”
Andreas Møballe, Head of Strategy, Mergers and Acquisitions, and Salling Seeds at Salling Group:
“The ideas and vision behind the new venture fund embody the same innovation ambitions we hold at Salling Group. We are committed to promoting and supporting innovation by tapping into new knowledge, inspiration and insights from sectors and fields beyond our core competencies. We are also excited to actively support entrepreneurs in the city and the wider region, alongside Aarhus University and leading East Jutland companies like ourselves, who prioritise making a difference.”
Knowledge for solutions
The new venture fund has been named Delphinus Venture Capital. Delphinus refers to the dolphins in Aarhus University’s seal, and the venture fund will be based in Aarhus, ensuring close proximity to the research environments at Aarhus University, Aarhus University Hospital, and other research and innovation hubs in the region.
The launch of the new venture fund will be celebrated on 17 September with a reception at Incuba, Katrinebjerg, Åbogade 15, 8200, Aarhus N.
For further information:
Delphinus Venture Capital: Mathias Brink Lorenz: mbl@delphinus.vc
AUFF: Sys Christina Vestergaard: scv@au.dk
Salling: Christoffer Roslyn Green: christoffer.roslyng.green@sallinggroup.com
HEARTLAND: Kasper Reggelsen: kasper.reggelsen@heartland.co
Norlys: Michelle Hald: michal@norlys.dk