Delphinus Venture Capital Launches With €80 Million To Invest

Structured as an evergreen fund, it offers long-term commitment and investment flexibility.

The fund is a joint venture between Aarhus University Research Foundation, HEARTLAND, Norlys, and Salling Group, with Mathias Brink Lorenz recently appointed as its director.

“Innovation takes time, courage and capital. Unlike traditional venture funds, Delphinus has been intentionally set up with a structure that enables long-term commitment and flexibility in our investments. We can and will participate as an investor from the very early stages through to the late growth stage. This is how we can make a real difference for the companies we invest in,” says Mathias Brink Lorenz, the newly appointed CEO.

Delphinus Venture Capital, named after the dolphins in Aarhus University’s seal, will be headquartered in Aarhus to remain close to research environments at Aarhus University, Aarhus University Hospital, and other regional innovation hubs. The fund’s launch is scheduled for 17 September.

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Lorenz highlights the growth of Denmark’s venture capital scene noting rising international interest, particularly in knowledge-based and tech-driven companies. He welcomes the opportunity for the fund to support startups throughout their entire journey.

Bringing extensive international VC experience, Lorenz previously served as Investment Director at Germany’s European Circular Bioeconomy Fund, where he focused on identifying and investing in research-intensive startups across Europe.

Brian Bech Nielsen, chair of the Aarhus University Research Foundation board and rector of Aarhus University, describes the creation of the new fund as a leap in the university’s commitment to supporting the development of new research-intensive companies.

“This unique partnership being created in our region will ensure that research ideas are transformed into sustainable, commercially viable companies. Speaking for the university, I’m particularly excited that this major backing will give even more researchers the chance to finance their entrepreneurial ideas. Both the bold, early-stage ideas undergoing proof-of-concept testing and the proven solutions closer to market launch.

“With this support, AU’s researchers will be even better equipped to drive the development of our society that is so important, and we at the Aarhus University Research Foundation are thrilled to be able to support this vital task,” says Nielsen.

In addition to its strong ties with Aarhus University, the fund’s three corporate partners—leading regional companies—bring a business-focused perspective on innovation and growth, both locally and nationwide. They view Delphinus Venture Capital as a catalyst for nurturing the next generation of entrepreneurial talent.

Lise Kaae, CEO of HEARTLAND: “At HEARTLAND, we are proud to support the creation of Delphinus. We believe it has great potential to improve access to long-term, locally anchored financing for promising, high-growth companies. This is an important ambition that we look forward to pursuing – and actively contributing to – in the years ahead.”

Anne Mette Aaby Aes, CFO of Norlys: “Developing the solutions of the future takes time. As a cooperative, our ownership model means we can be patient investors, giving entrepreneurs the time they need to develop their ideas into successful businesses. At Norlys, we’re also committed to using the fund to create and maintain research-intensive jobs in East Jutland.”

Andreas Møballe, Head of Strategy, Mergers and Acquisitions, and Salling Seeds at Salling Group adds: “The ideas and vision behind the new venture fund embody the same innovation ambitions we hold at Salling Group. We are committed to promoting and supporting innovation by tapping into new knowledge, inspiration and insights from sectors and fields beyond our core competencies. We are also excited to actively support entrepreneurs in the city and the wider region, alongside Aarhus University and leading East Jutland companies like ourselves, who prioritise making a difference.”