Invest in technological front-runners


CAPNOVA has more than 20 years of experience in spotting startups with the potential to go all the way. We are experts in assessing the brilliant business plan and the right team to execute it. At the moment we do not invest in new projects.

Until 2019, on behalf of the state, we have helped tech startups through the critical start-up phase with venture capital and advice through the innovation incubator scheme. In May 2018, it was politically decided to phase out this scheme and, together with the other three innovation environments, CAPNOVA has been selected as the exit operator for the state’s investments. This means that CAPNOVA no longer invests government or private funds, but we continue to manage the over 80 companies in our current portfolio until 2022.

Our role is to settle loans and holdings in the portfolio. At the same time, we continue to be active in the portfolio boards, so that we can develop the companies towards standing on their own or getting new investors involved.

In addition, CAPNOVA serves as a management company for the Midtjylland Entrepreneurship Fund. Here we take care of the investment process and the subsequent administration of the growth process. Read more about the fund.  

CAPNOVA creates strong and viable companies through investment with a solid network and many years of industry-specific experience.


The road to success

Our experience shows that capital alone is not enough to create a successful business. Therefore, entrepreneurs can also draw on our broad knowledge of business development and our strong alliances and networks for other investors and companies. Our experience tells us that it is the combination of capital, network and development that is ultimately crucial to the success of businesses.

Early in the investment process, we focus on how our investment can be supplemented with external capital and how relevant external competences can complement the founding team. Over time, our companies have attracted more than DKK 3 billion from other Danish and international investors.

The board


Peter Kjær (chairman)

Director of Schouw & Co.
Chairman of the Board of Incuba A/S.

Jørgen Lang

Director of the Aarhus University Research Fund (AUFF) as well as the Research Foundation Ejendomsselskab A/S.

Arnold Boon

University Director, Aarhus University

Klaus Stampe

Department Director, Jyske Bank


CAPNOVA is a share capital company consisting of the following owners:

Jyske Bank A/S

Vestergade 8-16
8600 Silkeborg

AUFF Holding P/S

Finlandsgade 14
8200 Aarhus N

Sydbank A/S

Peberlyk 4
Postboks 1038
6200 Aabenraa

Finansiel Stabilitet A/S

Sankt Annæ Plads 13,
1250 København K

Incuba A/S

Åbogade 15
8200 Aarhus N

Our people

Our companies

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