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Ugly Duckling Ventures is a venture capital firm founded in 2021 and based in Denmark. The firm is dedicated to supporting Nordic ventures at the seed and pre-seed stages by providing capital, expertise, and practical applications. The founding team consists of experienced builders and business angels with a proven track record of scaling companies, ensuring that portfolio companies receive the guidance they need to thrive in competitive markets.
Ugly Duckling Ventures invests primarily in early-stage Nordic B2B software and technology companies that demonstrate proven revenue traction and the potential for long-term growth. The firm emphasizes sectors such as Medtech, Resilience Tech, and Business Services software, and prefers to make smaller initial investments with significant follow-on funding as companies gain traction.
Notable portfolio companies include: - **Eupry**: Automated temperature compliance solutions for the pharmaceutical industry. - **P-Secure**: A secure case management system for conducting background checks. - **Pentimenti**: An Intelligent Tender Assistant using AI workflows to disrupt the tender solutions market. - **Clock&Cloud**: An AI-powered geopolitical intelligence platform that transforms data into actionable insights. - **Skyfora**: Provides precise weather forecasts using patented instruments. - **Juristic**: Streamlines legal workflows for law firms through automation. - **BeCause**: An AI-powered hub for managing sustainability data in tourism. - **Moxso**: A cybersecurity solution focused on fostering a strong security culture. - **YOGO**: A SaaS platform for managing bookings in fitness and yoga studios. - **Kanda**: A virtual training platform for industrial training simulations.
To approach Ugly Duckling Ventures, founders should prepare a concise pitch that highlights their business model, traction, and growth potential. Interested parties can submit their pitches through the firm's website at uglyduckling.ventures or directly via email at andreas@uglyduckling.ventures.
Ugly Duckling Ventures is actively deploying its second fund, with five of the planned 18 investments already completed as of early 2026. The firm closed its first fund at DKK 153M (approximately $22M) in 2023 and is targeting a second fund of DKK 250M (approximately $36M), with over 90% already committed.
Ugly Duckling Ventures invests in pre-seed and seed stages.
You can pitch Ugly Duckling Ventures through their website at uglyduckling.ventures or via email at andreas@uglyduckling.ventures.
The firm focuses on Nordic B2B software, particularly in Medtech, Resilience Tech, and Business Services software.
Ugly Duckling Ventures typically invests between $1M and $5M in their portfolio companies.
Ugly Duckling Ventures invests primarily in the Nordic region.
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