Firms

GRO Capital

Grønningen 17, 2. floor, 1270 Copenhagen, Denmark · 12 Hay Hill, London W1J 8NR, United Kingdom · Stortorvet 7, 0155 Oslo, Norway

grocapital.dk

GRO Capital is the Copenhagen-based Northern European B2B software growth and buyout investor founded in 2014 by managing partner Lars Dybkjær. Its own legal privacy notice identifies the fund manager as GRO Capital A/S, Danish CVR29425558, and expressly names five managed alternative-investment partnerships: GRO Fund I K/S, GRO Fund II K/S, GRO Fund III K/S, GRO CV I K/S and GRO Generation Fund I K/S. The branded platform also has offices through GRO Capital International Limited in London (UK14206786) and GRO Capital International AS in Oslo (Norway933224643); these subsidiary legal companies are not duplicate cash subscribers or additional independent LP funds. Unrelated similarly named GRO real-estate and other financial businesses are excluded. GRO provides minority and majority capital to mature, mission-critical B2B software businesses in the Nordics, DACH, Benelux and, through Generation, UK and Ireland. Investment and dedicated operating teams support product development, commercial scaling, leadership and organisational change. Published themes encompass resource efficiency, digital security, energy and digital transformation. AI and deep technology are evidenced by AI-powered audiology company Auditdata, privacy-first radar patient-monitoring company QUMEA, AI asset-operations company ToolSense, decision-optimisation software AIMMS, physics-based digital twins Akselos, and engineering/industrial automation portfolio companies. These are public portfolio affiliations, not evidence of particular disclosed cash tickets. The complete current website directory contains 24 staff and three separately published board directors: Julie Galbo, Mogens Thorninger and Søren Brogaard. All 27 have genuine original own-source portraits. Investment leadership includes Lars Dybkjær, Lars Lunde, Ben Hopper, Christopher Ager, Johan Olsson and Maxwell Veyhe, alongside investment directors/associates. Operating leadership includes Ruhne Fiala, Niclas Næstoft Jakobsen and Mona Evelyn Vaupel Knudsen; Gitte Kindvig is partner, CFO and risk/compliance officer. The current directory takes precedence over outdated job titles in some undated individual biographies, which are preserved as source-specific career context. GRO’s Johan Olsson is a distinct London private-equity partner, not the existing QAI mentor and Future Wave/BioStratiq namesake. Exact appointment dates are not inferred. The three board-only biographies have no detailed published career history in this directory. Legal management disclosures currently list committed capital of EUR135M for Fund I (2015), EUR255M for Fund II (2018 vintage; actual final close announced October8,2019), EUR45M for the 2021 continuation vehicle, EUR605M for Fund III (2022; original actual March16,2022 final-close announcement says EUR600M), and EUR153M for Generation I (2024; original final-close dateline July1,2024 says EUR150M while page header is June30). Current committed-capital sizes and original announcement sizes are qualified separately, not counted as additional raises or assigned fabricated incremental closing dates. Own 2026 report says Fund I completed its investment/realisation lifecycle with Auditdata’s exit, not a new fundraising close. EUR1.2B AUM is not fresh financing cash. Own September5,2016 announcement confirms GRO became a minority shareholder of Boyum IT Solutions alongside founder Mikael Boyum in connection with Boyum’s completed Beas acquisition. Own historical portfolio identifies Fund I and 2016 entry, with exit to Volpi in November2020. Purchase price, primary/secondary split, and any new issuer cash are unpublished; the company-profile owner records one qualified historical ownership event, not an invented financing ticket or personal partner check.

Founded: 2014
Type: Venture capital

Funds5

GRO Generation Fund I K/S2024-07-012024-07-01€153M
Currentcommittedcapital153M; originalfinalclose150M, pageheaderJune30vsissuerbodyJuly1,2024. Actualextra3Mclosingdayunknown. Distinct actual managedpartnership; committedcapitalnotAUM. Primaryprivacy expresslynameslegalvehicle.
GRO Fund III K/S2022-03-162022-03-16€605M
Currentcommittedcapital605M; originalclosedMarch16,2022at600M. No later5Mclosingdate inferred. Distinct actual managedpartnership; committedcapitalnotAUM. Primaryprivacy expresslynameslegalvehicle.
GRO Fund II K/S2019-10-082019-10-08€255M
2018vintage;180MfirstcloseOctober30,2018 followed255Mfinalclose, nottwofunds. Distinct actual managedpartnership; committedcapitalnotAUM. Primaryprivacy expresslynameslegalvehicle.
GRO CV I K/S—€45M
2021continuationvehicle tiedTrackunittransition; exactclosingdaynotproven. Distinct actual managedpartnership; committedcapitalnotAUM. Primaryprivacy expresslynameslegalvehicle.
GRO Fund I K/S—€135M
2015 launch June/dayunknown; completedrealisation2026 notnewcash. Distinct actual managedpartnership; committedcapitalnotAUM. Primaryprivacy expresslynameslegalvehicle.