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Ugly Duckling Ventures

Full company profile

uuid0006ci3

Namestring
Ugly Duckling Ventures
Legal namestring
Ugly Duckling Ventures Management ApS
Websiteurl
https://www.uglyduckling.ventures/
Company typeenum
Private
Founded yearint
2021
Operating statusenum
Operating
Ownership categoryenum
Headcount rangeband
1–10
akta.pro rankint
HeadquartersCopenhagen, Denmark
HQ citystring
Copenhagen
HQ countrystring
Denmark
HQ regionstring
Europe
Markets served

Serves global market

Offices1 record

Each record includes

City, Country, Type, Description, Source

Keyword5 values
venture capital investing, seed stage funding, pre-seed funding, Nordic startup investing, B2B software investment
Industry1 code
1Early-Stage Venture Capital (Series A/B)
CodeFSANAAABPrimaryYes
NAICS code1 code
  • Portfolio Management and Investment Advice52394
GTM motion1 record

Each record includes

Type, Description, Source

Revenue model1 record
1Venture Capital Returns
TypeManaged Services
Description

Ugly Duckling Ventures generates returns through equity investments in early-stage Nordic B2B software companies. The fund structure includes reserved capital for follow-on investments as portfolio companies gain traction, creating a typical VC return model through exits via acquisitions or subsequent funding rounds.

uglyduckling.ventures
Marketing channels1 record

Each record includes

Title, Type, Stage, Description, Source

Brand1 of 2 records shown
1UDV The Nest Fund KS
Description

First fund vehicle managed by Ugly Duckling Ventures

uglyduckling.ventures
+1 more record
Core offering1 text field

Ugly Duckling Ventures is a Danish venture capital firm that deploys capital, know-how, and real-world application to Nordic B2B software and technology companies at the seed and pre-seed stages. The firm invests smaller initial tickets while reserving the largest portion of its fund for follow-on investments as portfolio companies gain traction, and actively supports founders with strategic guidance, mentorship, and access to an industry network built over more than a decade in the Danish startup community.

Differentiator
Functional benefit
Problem solved
Product overview1 text field

Ugly Duckling Ventures is a Danish venture capital firm that provides capital, strategic guidance, mentorship, and network access to early-stage Nordic B2B software and technology companies at seed and pre-seed stages. As an investment firm, UDV does not offer products or services in the traditional SaaS sense; rather, it offers investment capital, operational expertise, and portfolio support to startups. The firm's portfolio companies span multiple sectors including Medtech, Resilience Tech, and Business Services software.

Scale indicator2 records

Each record includes

Type, Value, Description, Source

Recent move6 records

Each record includes

Date, Type, Title, Description, Source

Expansion highlight4 records

Each record includes

Type, Description

Peers10 records
1Eviny Ventures
TypeDirect peer
Description

Norwegian early-stage fund backing Nordic tech startups. Co-investor with UDV in Skyfora and competes for the same Nordic deep-tech and B2B software deal flow.

2ByFounders
TypeDirect peer
Description

Copenhagen-based Nordic pre-seed/seed fund founded by a multi-GP operator team. Closest direct competitor with the same geography, stage focus, founder-led value-add positioning, and community-driven syndicate model.

3SEED Capital
TypeDirect peer
Description

Denmark's largest dedicated seed-stage fund with deep B2B SaaS and tech focus. Directly comparable mandate and geography, with longer track record and institutional fund vehicles (vs. UDV's KS retail structure).

4Heartcore Capital
TypeDirect peer
Description

Nordic- and Europe-focused early-stage fund investing in B2B SaaS, consumer, and health from seed onward. Competes for the same Nordic seed B2B software deals and similar operator-led thesis.

5BY FOUNDERS (Venture Cup / Danish early-stage ecosystem)
TypeRegional player
Description

Danish early-stage startup competition and pre-seed support network that frequently feeds UDV's deal pipeline. Adjacent rather than direct LP capital competitor, but shapes the same founder funnel.

6LUMO Labs
TypeDirect peer
Description

Netherlands-based seed-stage investor with a thematic focus on emerging tech and digital health. Documented co-investor in Skyfora alongside UDV, with comparable ticket sizes at seed.

7Icebreaker.vc
TypeDirect peer
Description

Nordic pre-seed/seed fund with frequent co-investment alongside UDV (Cytely, Clock&Cloud rounds). Same stage, same geography, similar B2B software and deep tech focus.

8Norrsken Evolve
TypeDirect peer
Description

Nordic/European early-stage fund investing in impact-driven B2B software. Co-investor in Velatir with UDV and comparable stage and emerging-tech focus.

9Vaekstfonden
TypeBroad incumbent
Description

Danish state-backed growth investor providing equity and loans across all stages to Danish companies. Much larger scale than UDV and a natural Series A co-investor for UDV's successful portfolio companies.

10PreSeed Ventures
TypeDirect peer
Description

Danish pre-seed fund backed by the Danish Growth Fund, writing very early tickets in Danish tech startups. Direct pre-seed competitor with similar Danish-network-driven deal sourcing.

Market position
Strengths4 records

Each record includes

Headline, Details, Source

Weaknesses4 records

Each record includes

Headline, Details, Source

Competitive moat3 records

Each record includes

Type, Details

Key risks6 records

Each record includes

Headline, Details, Source

Key highlights6 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Segment1 record

Each record includes

Title, Type, Primary, Description, Pain point addressed, Use case, Source

API detail
Has APIbool
No

Docs URL, Description

AI maturity
App detail

Has app

Core technology
Revenue estimate
Valuation estimate
Number of profiles
No data
No data
Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors

Each record includes

Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment22 records

Each record includes

Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Ugly Duckling Ventures

uglyduckling.ventures

Ugly Duckling Ventures firmographics

Firmographics
Name
Ugly Duckling Ventures
Legal name
Ugly Duckling Ventures Management ApS
Website
https://www.uglyduckling.ventures/
Company type
Private
Founded year
2021
Operating status
Operating
Headcount range
1–10 employees
Ownership category
akta.pro rank

Ugly Duckling Ventures industry classification

Industry
NAICS
Portfolio Management and Investment Advice (52394)
akta.pro primary industry
Early-Stage Venture Capital (Series A/B) (FSANAAAB)

Keywords

  • Venture capital investing
  • Seed stage funding
  • Pre-seed funding
  • Nordic startup investing
  • B2B software investment

Where Ugly Duckling Ventures is headquartered

Location

Headquarters

HQ city
Copenhagen
HQ country
Denmark
HQ region
Europe

Offices1 record

Markets served

Ugly Duckling Ventures business model

Business model

Revenue model

  1. Venture Capital Returns: Ugly Duckling Ventures generates returns through equity investments in early-stage Nordic B2B software companies. The fund structure includes reserved capital for follow-on investments as portfolio companies gain traction, creating a typical VC return model through exits via acquisitions or subsequent funding rounds.

Go-to-market motion1 record

Marketing channels1 record

Ugly Duckling Ventures product offering

Product offering

Core offering

Ugly Duckling Ventures is a Danish venture capital firm that deploys capital, know-how, and real-world application to Nordic B2B software and technology companies at the seed and pre-seed stages. The firm invests smaller initial tickets while reserving the largest portion of its fund for follow-on investments as portfolio companies gain traction, and actively supports founders with strategic guidance, mentorship, and access to an industry network built over more than a decade in the Danish startup community.

Product overview

Ugly Duckling Ventures is a Danish venture capital firm that provides capital, strategic guidance, mentorship, and network access to early-stage Nordic B2B software and technology companies at seed and pre-seed stages. As an investment firm, UDV does not offer products or services in the traditional SaaS sense; rather, it offers investment capital, operational expertise, and portfolio support to startups. The firm's portfolio companies span multiple sectors including Medtech, Resilience Tech, and Business Services software.

Differentiator

Problem solved

Functional benefit

Brands

  • UDV The Nest Fund KS: First fund vehicle managed by Ugly Duckling Ventures
  • UDV The Nest Fund II KS

Companies that use Ugly Duckling Ventures

Customer profile

Segments1 record

Ugly Duckling Ventures technology and API

Technology

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

Ugly Duckling Ventures partnerships and signals

Strategic signal

Scale indicators2 records

Recent moves6 records

Expansion highlights4 records

Ugly Duckling Ventures competitors and assessment

Company assessment

Direct peers

  • Eviny Ventures: Norwegian early-stage fund backing Nordic tech startups. Co-investor with UDV in Skyfora and competes for the same Nordic deep-tech and B2B software deal flow.
  • ByFounders: Copenhagen-based Nordic pre-seed/seed fund founded by a multi-GP operator team. Closest direct competitor with the same geography, stage focus, founder-led value-add positioning, and community-driven syndicate model.
  • SEED Capital: Denmark's largest dedicated seed-stage fund with deep B2B SaaS and tech focus. Directly comparable mandate and geography, with longer track record and institutional fund vehicles (vs. UDV's KS retail structure).
  • Heartcore Capital: Nordic- and Europe-focused early-stage fund investing in B2B SaaS, consumer, and health from seed onward. Competes for the same Nordic seed B2B software deals and similar operator-led thesis.
  • LUMO Labs: Netherlands-based seed-stage investor with a thematic focus on emerging tech and digital health. Documented co-investor in Skyfora alongside UDV, with comparable ticket sizes at seed.
  • Icebreaker.vc: Nordic pre-seed/seed fund with frequent co-investment alongside UDV (Cytely, Clock&Cloud rounds). Same stage, same geography, similar B2B software and deep tech focus.
  • Norrsken Evolve: Nordic/European early-stage fund investing in impact-driven B2B software. Co-investor in Velatir with UDV and comparable stage and emerging-tech focus.
  • PreSeed Ventures: Danish pre-seed fund backed by the Danish Growth Fund, writing very early tickets in Danish tech startups. Direct pre-seed competitor with similar Danish-network-driven deal sourcing.

Regional players

Broad incumbents

  • Vaekstfonden: Danish state-backed growth investor providing equity and loans across all stages to Danish companies. Much larger scale than UDV and a natural Series A co-investor for UDV's successful portfolio companies.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

Ugly Duckling Ventures social profiles

Digital presence

Ugly Duckling Ventures financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Ugly Duckling Ventures leadership team

Management profile

Number of profiles

Ugly Duckling Ventures funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Ugly Duckling Ventures M&A and investment

M&A and investment

M&A

Investments22 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ugly Duckling Ventures

What does Ugly Duckling Ventures do?

Ugly Duckling Ventures is a Danish venture capital firm that deploys capital, know-how, and real-world application to Nordic B2B software and technology companies at the seed and pre-seed stages. The firm invests smaller initial tickets while reserving the largest portion of its fund for follow-on investments as portfolio companies gain traction, and actively supports founders with strategic guidance, mentorship, and access to an industry network built over more than a decade in the Danish startup community.

Is Ugly Duckling Ventures a public or private company?

Ugly Duckling Ventures is a private company. It is currently operating.

When was Ugly Duckling Ventures founded?

Ugly Duckling Ventures was founded in 2021. It employs 1 to 10 people.

Where is Ugly Duckling Ventures based?

Ugly Duckling Ventures is headquartered in Copenhagen, Denmark, in the Europe region.

How does Ugly Duckling Ventures make money?

One revenue line is on record: venture Capital Returns.

Who are Ugly Duckling Ventures's main competitors?

Direct peers on record are Eviny Ventures, ByFounders, SEED Capital, Heartcore Capital, LUMO Labs, Icebreaker.vc, Norrsken Evolve and PreSeed Ventures. BY FOUNDERS (Venture Cup / Danish early-stage ecosystem) is listed as a regional player. Vaekstfonden is listed as a broad incumbent.

Does Ugly Duckling Ventures have an API?

No public API is recorded for Ugly Duckling Ventures.

What industry is Ugly Duckling Ventures in?

Its primary akta.pro industry code is FSANAAAB, Early-Stage Venture Capital (Series A/B). Its NAICS code is 52394.

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Live signals
ArcticstartupSwedish startup secures €3 million to take prospecting and sales admin off reps’ platesSwedish startup Spiich raised €3 million in a seed round led by Ugly Duckling Ventures. The company develops AI agents that automate prospecting and sales admin, freeing reps for customer interactions. It has 50 customers and 160% net revenue retention.StartbaseSpiich Receives 3 Million Euros for Sales AI AgentsSpiich Labs raised €3 million in seed funding led by Ugly Duckling Ventures, bringing total funding to €3.6 million. The Stockholm-based startup reports 50 customers, 100% month-over-month ARR growth, and 160% net revenue retention. It plans to expand engineering and go-to-market teams, focusing on Europe.SpiichSpiich raises €3M to put salespeople back in front of customersSpiich Labs raised a €3 million seed round led by Ugly Duckling Ventures, with Alliance VC and Cherry Ventures joining. The company's AI platform lets salespeople focus on customers, cutting prospecting time by 90% and tripling market coverage. The funding will support hiring and expansion in Europe.FinSMEsVelatir Raises €5M in FundingVelatir, an Odense-based AI infrastructure and sovereign compliance platform, raised €5M in funding co-led by Spintop Ventures and Ugly Duckling Ventures. The company will use the capital to scale European expansion, recruit talent, and accelerate product development for its sovereign operating system.ArcticstartupDanish Velatir gets €5 million seed as companies seek greater control over AI useVelatir, an Odense-based AI infrastructure startup, raised €5 million in seed funding co-led by Spintop Ventures and Ugly Duckling Ventures. The company provides monitoring and policy controls for AI use across employees, agents, and systems, and plans to expand across Europe. It builds on European-owned and hosted infrastructure to support data sovereignty.Tech.euVelatir secures €5M seed funding to expand its AI infrastructure across EuropeVelatir raised €5 million in seed funding to expand its AI infrastructure platform across Europe. The round was co-led by Spintop Ventures and Ugly Duckling Ventures, with participation from EIFO and angel investors. The company will use the funds to accelerate European expansion and recruit talent.TechsavvyStartup rejser fem millioner euro til at gøre europæiske virksomheder mere konkurrencedygtige med AIDanish AI startup Velatir closed a €5 million funding round in two weeks. The capital will support European expansion, hiring, and customer growth, with investors including Thomas Visti and Ugly Duckling Ventures. The company aims to become Europe's fastest-growing AI firm.The Next WebVelatir raises €5m to sell European companies control over their own AIVelatir, an Odense startup, raised €5m in seed funding six months after its pre-seed. The round was co-led by Spintop Ventures and Ugly Duckling Ventures, with Norrsken Evolve returning. The company plans to use the funds for European expansion and hiring.Pulse 2.0Palette Raises €3 Million Pre-Seed Round Led By Ugly Duckling For AI-Native Team Operating SystemPalette has raised €3 million in a pre-seed funding round led by Ugly Duckling Ventures to develop an AI-native team operating system. The company is building Palette OS, a platform that allows organizations to maintain control of their proprietary context while switching between various AI providers like Claude Code and Gemini. The initial product, Palette Desktop, is now available on Mac with plans for expansion in Copenhagen.VestbeePalette lands €3M pre-seed to build AI operating system for teamsCopenhagen-based Palette raised €3 million in pre-seed funding led by Ugly Duckling Ventures, with participation from Emblem, Acadian Ventures, and angel investors. The startup builds an AI operating system for teams, including Palette Desktop and Palette OS, to keep files and workflows in a shared context. It plans to use the funds to grow its team, expand customers, and develop Palette OS.