Selected Group

What Selected Group does

Selected Group is a Denmark-based alternative investment management firm founded in 2016 that gives private high-net-worth investors access to institutional-grade real-asset strategies, primarily through Article 9 SFDR-compliant funds targeting green infrastructure in the Nordics. Its core products are the Selected RegEnergy Fund and its variant Selected RegEnergy VSO (10-year horizon, target +15% IRR) and the Article 6-classified Selected Credit Fund I (2+1 year, 8% target) which provides direct loans to Nordic companies. The group's flagship project is RegEnergy Frövi, an industrial symbiosis complex in Sweden that captures approximately 50 GWh of waste heat annually from the Billerud paper mill via a 400 km piping system and uses it to heat greenhouses producing roughly 8,000 tons of tomatoes per phase; Phase 1 (100,000 m²) was planted in 2024 and harvested from August 2024, and an additional Phase 2 (100,000 m²) broke ground in mid-2025 with commissioning targeted for summer 2026 using KUBO Ultra-Clima technology. Offtake is committed to Swedish retailers ICA and Coop.

The business model combines fund management fees and carried interest on the alternative investment vehicles with operating economics from the wholly-owned greenhouse subsidiary RegEnergy Frövi AB and in-house operator ECA Operator Frövi AB. Distribution is relationship-led, with a 1,000,000 DKK minimum ticket on the flagship fund, multilingual websites (Danish, English, Swedish), quarterly investor events across the Nordics, and a HubSpot-integrated meeting-booking flow. Capital structure was materially strengthened in January 2025 by a €89 million senior debt facility from Goldman Sachs Alternatives, in parallel with a strategic partnership announced in September 2025 with Nevel covering energy infrastructure across the Frövi site. The group is regulated through its Danish fund manager Selected Alternatives Management ApS (registered with Finanstilsynet since 2018) and its Swedish subsidiary Selected Group Sverige AB (AIFM and EuVECA since 2022); in October 2024, the group divested its advisory subsidiary Selected Advice to focus on the investment business.

Name

Selected Group

Legal name

Selected Group

Website

https://selectedgroup.dk

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Short description

Selected Group is a Denmark-based alternative investment manager running Article 9 SFDR-compliant Nordic green infrastructure and credit funds, anchored by the RegEnergy Frövi industrial-symbiosis greenhouse project that converts paper-mill waste heat into Swedish tomato production for ICA and Coop.

Ownership category

akta.pro rank

Product category

Alternative Investment Management

SIC

Investment Advice (6282)

akta.pro primary industry

Sustainable Private Markets (Impact PE/VC, Private Credit, Infrastructure) (FSAAALAG)

Keywords

• Alternative investment funds
• Private wealth management
• Green infrastructure funds
• Direct lending credit
• Sustainable food investments

Headquarters

HQ city

Skanderborg

HQ country

Denmark

HQ region

Europe

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Selected RegEnergy Fund: The fund invests in projects where industrial waste heat is converted to sustainable food production. Returns are composed of fixed lease income, operational returns, and value appreciation at exit. The fund targets an average annual IRR of +15% after tax and costs with a 10-year investment horizon.
2. Selected RegEnergy VSO: Variant of the RegEnergy fund structure offering similar investment proposition in sustainable food production infrastructure.
3. Selected Credit Fund I: Credit investment through direct loans to Nordic companies and projects with underlying value and concrete financing needs. Offers 8% expected return with a 2+1 year investment period.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels7 records

Core offering

Selected Group is a Danish alternative investment management company that gives private investors access to institutional-grade alternative investments. The company manages three funds: the Selected RegEnergy Fund and Selected RegEnergy VSO (Article 9 SFDR), which invest in greenhouse projects that convert industrial waste heat into sustainable local food production, and Selected Credit Fund I, which provides direct loans to Nordic companies with concrete financing needs.

Product overview

Selected Group operates as an alternative investment firm managing three distinct fund products: Selected RegEnergy Fund (Article 9 SFDR-compliant infrastructure fund using industrial waste heat for greenhouse food production), Selected RegEnergy VSO (structured variant of the RegEnergy fund), and Selected Credit Fund I (direct lending to Nordic companies). The flagship project is the RegEnergy Frövi greenhouse in Sweden, a 100,000 m2 facility (expanding to 200,000 m2 with Phase 2) producing tomatoes using waste heat from a nearby paper mill, with the second greenhouse implementing KUBO Ultra-Clima technology. The company targets high-net-worth private investors seeking alternatives to stocks and bonds with minimum investments starting at 1,000,000 DKK.

Differentiator

Problem solved

Functional benefit

Brands

• Selected RegEnergy Fund: An Article 9 SFDR-compliant investment fund that invests in greenhouse projects utilizing industrial waste heat for sustainable food production, with expected IRR of +15% per annum and 10-year investment horizon.
• Selected RegEnergy VSO
• Selected Credit Fund I

Products and services

• Selected RegEnergy Fund An Article 9 SFDR-compliant alternative investment fund that invests in circular infrastructure projects converting industrial waste heat from Nordic industrial companies into sustainable local food production. Targets +15% IRR with a 10-year investment horizon and risk classification 6 out of 7. Minimum investment 1,000,000 DKK.
• Selected RegEnergy VSO

Quantifiable outcome

• 25.4% lower carbon footprint per kg tomatoes compared to traditional Venlo greenhouses
• +3 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature3 records

Partnerships

Nine partnerships are on record, tiered core and supporting.

• NevelcoreStrategic or Co-development Partner · 24 September 2025Strategic partnership for operating energy infrastructure at existing and upcoming Frövi greenhouses. Nevel, a leading provider of sustainable energy solutions with operations in Finland, Sweden and Estonia, will invest in, operate, maintain and optimize energy infrastructure. Nevel serves nearly 100 industrial customers and manages over 40 district heating networks.
• KUBO GroupcoreTechnology or Integration · 1 January 2022Technology provider for Ultra-Clima greenhouse design and Smart Growing program. KUBO provides third-party verified climate technology with CO2 footprint certification. The Smart Growing program enables automated control, real-time monitoring, and continuous optimization. KUBO Blueprint Platform supports GLOBAL G.A.P. quality standards.
• BillerudcoreOthersPaper and cardboard manufacturer providing waste heat from facility near Frövi. 20-year fixed contract at agreed price for heat supply. Waste heat is transported through 400 km of piping to the greenhouse.
• ICAcoreChannel Partner/ Reseller/ DistributorSwedish supermarket chain purchasing tomatoes produced at Frövi greenhouse. ICA committed to strengthening Swedish food supply through local sourcing of 8,000 tons of tomatoes annually.
• CoopcoreChannel Partner/ Reseller/ DistributorSwedish retail chain purchasing tomatoes from Frövi greenhouse. Partnership supports year-round Swedish tomato supply and food security goals.
• ECA Operator Frövi ABcoreImplementation/ SI/ Consulting PartnerInternal operator for Frövi greenhouse operations. Operates tomato production using waste heat from Billerud. Created as subsidiary of RegEnergy Frövi AB to ensure operational continuity.
• Lindesberg MunicipalitysupportingStrategic or Co-development PartnerLocal municipality partnership for community integration. Collaborated on recruitment of 100+ employees, infrastructure planning including bus stops, housing, and educational needs. Established task force with public and private sectors to address local challenges.
• Region ÖrebrosupportingStrategic or Co-development PartnerRegional authority partnership for the Frövi project, contributing to public-private collaboration model that has gained national attention.
• WA3RMsupportingStrategic or Co-development PartnerProject developer for RegEnergy Frövi. Developed the innovative concept of converting industrial waste heat to greenhouse food production. Initial project developer before Selected Group involvement.

Scale indicators9 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Generate Capital: US-based sustainable infrastructure investment platform that builds, owns, and operates distributed infrastructure assets and raises pooled capital from institutional LPs. Closest analogue globally to Selected Group's 'fund + operating project' model and industrial-symbiosis thesis.
• Capagro: European PE firm dedicated to sustainable agriculture and food-tech. Compares directly to the RegEnergy fund thesis: institutional capital backing controlled-environment food production with a sustainability/circular economy angle.
• Verdane: Nordic-specialist growth investor backing technology-enabled and sustainability-focused businesses with capital from both institutional and select private wealth channels. Comparable in Nordic regional focus, sustainability mandate, and mixed LP base.
• Summa Equity: Norwegian-Nordic impact/PE firm managing Article 9-aligned private equity funds that channel institutional and HNW capital into sustainable infrastructure and resource-efficiency businesses. Directly comparable in mandate, Article 9 orientation, and Nordic institutional outreach.

Emerging players

• Clean Energy Ventures: US-focused venture capital firm backing climate-tech founders including sustainable food production. Comparable emerging sustainability-mandate fund manager, but earlier-stage and US/North America focused rather than operating-asset infrastructure.

Others

• KUBO Group: Dutch specialist in Ultra-Clima semi-closed greenhouse technology — the technology partner behind both phases of Frövi and the source of the CO2 footprint certification. Technology ecosystem participant rather than competitor; provides the proprietary IP underlying the Frövi project.

Broad incumbents

• Kistefos AS: Norwegian family-controlled investment company deploying capital across venture, PE, and listed alternatives with a strong sustainability/cleantech tilt. Compares on Nordic scale, diversification across asset classes, and impact orientation, though as a much broader conglomerate.
• Obvious Ventures: US impact-focused VC firm investing across sustainability, food, and energy. Comparable in Article-9-style branding and LP-facing 'impact alpha' framing, but adjacent — operates as early-stage VC rather than infrastructure fund manager.
• Gotham Greens: US sustainable greenhouse operator producing local fresh produce using energy-efficient technologies and direct retail distribution. Comparable on the operating-asset side of the Frövi greenhouse model; broader than a fund-management peer.

Regional players

• Maj Invest: Danish wealth and asset management firm with alternative investment capabilities including private credit and real assets serving Nordic HNW/institutional clients. Compares as a regional Danish alternative-investment channel but with a much broader product set.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCg8PKSgBafG8BuH3ABQ_8QQ
• Facebookfacebook.com/SelectedGroupdk
• LinkedInlinkedin.com/company/selectedgroupdk

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Selected Group