Danske Bank Secures Management of Dansk Vækstkapital Funds
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- 09 Dec 2024
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Danske Bank, one of Denmark's leading financial institutions, has been awarded the management of the Dansk Vækstkapital funds, a significant development that underscores the bank's commitment to supporting the Danish startup ecosystem. This decision follows a comprehensive tendering process initiated by the Export and Investment Fund of Denmark (EIFO), as reported by FF News.
The Dansk Vækstkapital funds, which include Dansk Vækstkapital I, II, and III, have played a crucial role in nurturing Danish startups and growth companies since their establishment in 2011. These funds are backed by a diverse array of investors, including the Danish state and major pension providers, and are designed to provide venture capital aimed at fostering entrepreneurship, job creation, and delivering robust returns for investors.
Danske Bank views this new management role as a natural extension of its mission to support growth enterprises through financing, infrastructure, and advisory services. Carsten Egeriis, CEO of Danske Bank, stated, “Our strategic purpose as a bank is to use the power of finance to release the potential in people and businesses.” He highlighted the bank's dedication to enhancing the startup ecosystem while creating attractive investment opportunities for its clients.
The transfer of management is expected to be completed by the end of the year, pending approvals from the investors in the funds. This transition will align the Dansk Vækstkapital funds with Danske Bank Asset Management’s extensive platform for alternative investments.
Thomas Otbo, CIO of Danske Bank Asset Management, expressed confidence in the partnership, noting, “With our solid operational setup and a long and strong track record in the area, Dansk Vækstkapital is an excellent match for us.” The bank's extensive distribution network is anticipated to play a vital role in future fundraising efforts, targeting both institutional investors and private wealth clients.
This transition marks a significant milestone for Danske Bank, reinforcing its position within Denmark’s entrepreneurship ecosystem and the broader landscape of alternative investments. The management of the Dansk Vækstkapital funds is expected to enhance the bank's ability to support innovative ventures and contribute to the growth of the Danish economy.
