Danish Ventu re Fund set to increase contribution to Danish economy

At its annual general meeting, Vækstfonden, the Danish Venture Fund – Business Development Finance (BDF), announced plans to double its contribution to the Danish economy. According to Christian Motzfeldt, BDF’s general manager, the new strategy is scheduled to be implemented over a period of 20 years and will provide new jobs, knowledge and development representing a value of around EUR 335m. The aim of the strategy is to speed up innovation in Danish business life by sharing success and surplus with the companies in which the fund is investing. According to press reports this represents a move away from the old strategy whereby more passive support was provided with a constant refund interest whether the investments were successful or not. Under the new initiative – not dissimilar to the approach adopted by traditional venture capital companies – entrepreneurs can apply for loans at an interest rate dependent upon the company’s turnover, or the BDF can invest directly in the new company.

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