Since 2000, just six out of 14 Danish-founded unicorns have stayed in Denmark or Europe. The others moved abroad, mostly to the US, to find late-stage funding.
EIFO, Denmark’s national promotional bank, has invested €200 million in the new Scaleup Europe Fund as the only national promotional bank among the anchor investors. It joins eight other founding investors, including the European Commission, which has committed €1 billion, Novo Holdings, Allianz, and APG.
The €5 billion fund is managed by EQT, which has previously supported companies like Wolt, Einride, and Nothing. It plans to invest in 30 to 40 top European growth-stage tech companies, with the first investment expected in autumn 2026.
Europe is good at creating startups, but it struggles to keep them.
Out of 14 Danish-founded unicorns since 2000, only six remained in Denmark or Europe. The rest mostly moved to the US, where late-stage funding is easier to obtain, investment rounds are larger, and investors are willing to provide more capital.
