Scale Capital
Scale Capital is a Danish venture capital fund investing €1–3M in Nordic and German B2B tech startups at Seed and Series A, helping portfolio companies scale into the US market from offices in Copenhagen, Stockholm, and Palo Alto.
- Company typePrivate
- Founded2012
- HeadquartersCopenhagen, Denmark
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Scale Capital does
Scale Capital is a Danish venture capital firm founded in 2012 by Lars Jensen and Kenneth Grunow, headquartered in Copenhagen with offices in Stockholm and Palo Alto. The firm invests €1–3M tickets at Seed and Series A stages in Nordic and German B2B technology startups, with a stated portfolio focus on AI, Digital Infrastructure, Energy, and Defense. As of 2025–2026, Scale Capital operates its third fund (Fund III), manages approximately 33 portfolio companies, and reports 9 prior exits, with 90% of investments made as the lead investor and 45% of portfolio revenue generated outside Europe — evidence of the firm's transatlantic scaling thesis. Differentiators include a Silicon Valley presence established during the founders' 2013–2017 US residency, a team of ex-founders and operators, and a structured 8–12 week investment process with 100-day planning sessions.
Scale Capital's business model follows the standard alternative asset manager structure, generating revenue through management fees on Fund II and Fund III vehicles plus carried interest on portfolio realizations. The firm does not charge portfolio companies directly; instead it accepts equity positions and provides ongoing strategic support, board participation, and US-market acceleration. The fund is structured across multiple Danish-domiciled entities (SC Management ApS as management company, with Scale & Friends K/S, Scale Invest Feeder K/S, Scale Capital Fund II K/S, and Scale Capital Fund III K/S as fund vehicles), and is in transition from semi-professional to institutional LP capital. Distribution is relationship-driven — deal flow originates from founder referrals, co-investor networks, business angels, and direct outreach executed by two Principals (Joachim Schelde, promoted July 2025; Terkel Douglas, promoted October 2025) and four regional Venture Partners across San Francisco, Stockholm, Oslo, and Berlin. The firm supports its brand through a Substack newsletter, quarterly Generative AI Landscape reports, and op-eds in Nordic business media such as Børsen and Finans.
Scale Capital firmographics
Firmographics- Name
- Scale Capital
- Legal name
- SC Management ApS
- Website
- https://scalecapital.com
- Company type
- Private
- Founded year
- 2012
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Scale Capital is a Danish venture capital fund investing €1–3M in Nordic and German B2B tech startups at Seed and Series A, helping portfolio companies scale into the US market from offices in Copenhagen, Stockholm, and Palo Alto.
- Ownership category
- akta.pro rank
Scale Capital industry classification
Industry- Product category
- Venture Capital
- NAICS
- Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Early-Stage Venture Capital (Series A/B) (FSANAAAB)
- akta.pro secondary industries
- Impact / ESG Venture Capital (FSANAAAG), Capital Raising Advisory (Debt/Equity/Private Capital) (BPAHADAG)
Keywords
Where Scale Capital is headquartered
LocationHeadquarters
- HQ city
- Copenhagen
- HQ country
- Denmark
- HQ region
- Europe
Offices3 records
Markets served
Scale Capital business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Management Fees: Scale Capital generates revenue through management fees charged on the funds under management. As an alternative investment fund manager, the firm operates Fund II, Fund III, and associated feeder structures.
- Carried Interest: The primary economic upside for Scale Capital comes from carried interest (carry) on successful portfolio exits. This aligns the fund's interests with portfolio company success. The fund has achieved 9 portfolio exits to date.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Seed to Series A investment tickets |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels6 records
Scale Capital product offering
Product offeringCore offering
Scale Capital is a Danish venture capital fund that invests €1-3M tickets at Seed and Series A stages in Nordic and German B2B technology startups, with portfolio focus on AI, Digital Infrastructure, Energy, and Defense sectors. The firm provides hands-on active ownership support including 100-day planning, US market entry guidance, hiring and go-to-market advice, and ESG framework integration across approximately 33 portfolio companies.
Product overview
Scale Capital is a Danish venture capital fund founded in 2012 that invests in Nordic early-stage B2B tech startups and helps them enter and win in the US market. The firm operates out of Copenhagen with offices in Stockholm and Silicon Valley, focusing investment on AI, Digital Infrastructure, Energy, and Defense sectors. Scale Capital typically invests €1-3M tickets at Seed and Series A stage, targeting companies with proven business models and US scaling potential. The firm operates three funds and has made 9 exits, managing 33 portfolio companies with 92% of portfolio employees based in Europe and 45% of portfolio revenue generated outside Europe.
Differentiator
Problem solved
Functional benefit
Products and services
- Scale Capital Fund II K/S
Quantifiable outcome
- 9 successful portfolio exits achieved
- +2 more outcomes
Companies that use Scale Capital
Customer profileNamed customers1 record
Segments3 records
Ideal customer profiles3 records
Scale Capital technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Scale Capital partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- US Partners NetworkcoreScale Capital maintains relationships with US partners who provide growth capital and support for portfolio companies seeking to enter and scale in the American market. This network was established during the firm's Silicon Valley presence from 2013-2017.
Scale indicators6 records
Recent moves7 records
Expansion highlights6 records
Scale Capital competitors and assessment
Company assessmentMarket position
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Scale Capital social profiles
Digital presenceScale Capital financial estimates
Financial estimateRevenue estimate
Valuation estimate
Scale Capital leadership team
Management profileNumber of profiles
Profiles12 records
Scale Capital funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Scale Capital M&A and investment
M&A and investmentM&A
Investments27 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Scale Capital
What does Scale Capital do?
Scale Capital is a Danish venture capital fund that invests €1-3M tickets at Seed and Series A stages in Nordic and German B2B technology startups, with portfolio focus on AI, Digital Infrastructure, Energy, and Defense sectors. The firm provides hands-on active ownership support including 100-day planning, US market entry guidance, hiring and go-to-market advice, and ESG framework integration across approximately 33 portfolio companies.
Is Scale Capital a public or private company?
Scale Capital is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Scale Capital founded?
Scale Capital was founded in 2012. It employs 11 to 50 people.
Where is Scale Capital based?
Scale Capital is headquartered in Copenhagen, Denmark, in the Europe region.
How does Scale Capital make money?
Two revenue lines are on record. Management Fees are the primary driver. The others are carried Interest.
Does Scale Capital have an API?
No public API is recorded for Scale Capital.
What industry is Scale Capital in?
Scale Capital's product category is Venture Capital. Its primary akta.pro industry code is FSANAAAB, Early-Stage Venture Capital (Series A/B), with a secondary code of FSANAAAG, Impact / ESG Venture Capital. Its NAICS code is 523940 and its SIC code is 6282.