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New fund raises €150 million in record time: Boosting the software sector in Northern Europe

Summary in Short:

GRO, a venture capital firm, has raised EUR 150 million for its new fund, GRO Generation I, to support innovative B2B software companies in Northern Europe. The fund aims to invest in companies focused on resource efficiency, cybersecurity, energy, and digitalization to drive economic growth and technological innovation. With a total of EUR 1.2 billion in assets under management, GRO plans to not only provide capital but also strategic support and industry expertise to help portfolio companies succeed globally. This new fund signifies a significant advancement in venture capital in the region, benefiting companies that receive this injection of capital.


The major capital raise aims to locate and support the most innovative B2B software companies, potentially transforming the landscape for software companies in Northern Europe.

GRO, a leading figure in venture capital, has closed its latest fund, GRO Generation I, with a capital raise of EUR 150 million. The fund, supported by institutional investors, seeks to invest in promising B2B software companies in Northern Europe, including the UK and Ireland.

Focus on Technological Future

GRO Generation I will concentrate on companies operating in resource efficiency, cybersecurity, energy, and digitalization. These sectors are deemed critical for future economic growth and technological advancement.

In a press release, Lars Dybkjær, Managing Partner at GRO, stated, “By refining our focus, we aim to tap into various parts of the value chain and ensure we do not miss out on potential high-growth and high-value investments across Northern Europe. This strategy is crafted to enhance our portfolio and deliver favorable returns to our investors.”

With the introduction of the new fund, GRO’s total assets under management now stand at EUR 1.2 billion, a significant milestone for the asset manager. The fund not only offers capital but also provides strategic support and industry expertise to aid portfolio companies in scaling up and succeeding in the global market.

GRO’s new fund signifies a crucial advancement in venture capital within the region, with time revealing which companies will benefit from this substantial injection of capital.

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