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Heartcore Capital

Venture Capital · Founded 2007 · Copenhagen, Denmark

#358 Investor Ranking 2026 Top 2% of investors worldwide

Copenhagen-based VC with more than EUR500 million under management, focused on early-stage Tech and Life Sciences companies.

128 Portfolio companies+29% in 5 years
9 Unicorns
244 Investments
May 2026 Last investment
02 · Biggest holdings

Heartcore Capital’s biggest current holdings.

The most valuable companies Heartcore Capital still holds, ordered by Dealroom’s latest valuation. Companies that have been acquired or gone public are in Exits instead. Dealroom has no parsed shareholder register for Heartcore Capital, so the size of each stake isn’t shown.

#CompanyValuation
  1. 1 PerkUnicorn · Travel · Spain $2.7B
  2. 2 Neo4jUnicorn · Enterprise Software · USA $2.2B
  3. 3 GetYourGuideUnicorn · Travel · Germany $2.0B
  4. 4 FINNUnicorn · Transportation · Germany $1.1B
  5. 5 ForaUnicorn · Travel · USA $1.0B
  6. 6 F2GHealth · UK $500M
  7. 7 TinkHome Living · Germany $176M
  8. 8 La FourcheFood · France $139M

Unicorns and thoroughbreds Heartcore Capital has backed and still holds, at Dealroom’s latest valuation. Heartcore Capital also appears inside investor groups in BLAST, GetYourGuide, Perk, where a standalone stake isn’t disclosed. See the underlying shareholder registers on Dealroom →

03 · Exits

Heartcore Capital’s biggest exits.

Portfolio companies that IPO’d or were acquired at $1B+, with the valuation recorded at exit and — for those still public — their value today. Exit events come from each company’s funding-round history; entry stage from Heartcore Capital’s transaction record.

$497M IPO · 2007
Now $3.4BJobs Recruitment
$2.0B acquisition · 2021
Entered Series AFintech
$546M IPO · 2017
Entered Series ANow $1.6BHealth
$372M IPO · 2017
Entered Series ANow $1.2BFashion
04 · Portfolio analysis

Where Heartcore Capital’s portfolio is concentrated.

Distribution of portfolio companies by headquarters country, sector, entry stage and current growth stage. Across all 128 portfolio companies. "Stage entered" is the first priced round the investor joined, derived from the investor’s transaction history.

By countryCount
  1. Denmark38
  2. USA23
  3. Germany22
  4. UK18
  5. Sweden17
  6. France13
  7. Finland7
  8. Spain6
  9. Switzerland5
  10. Cayman Islands1
  11. China1
  12. Ireland1
By sectorCount
  1. Health41
  2. Enterprise Software25
  3. Fintech18
  4. Media11
  5. Gaming9
  6. Food7
  7. Travel7
  8. Wellness Beauty7
  9. Fashion6
  10. Jobs Recruitment6
  11. Semiconductors6
  12. Education5
By stage enteredCount
  1. Seed66
  2. Series A48
  3. Series B+12
By growth stageCount
  1. Early Growth73
  2. Breakout Stage57
  3. Late Growth26
05 · Portfolio market map

Inside Heartcore Capital’s portfolio.

The 60 highest-funded portfolio companies, of 128 tracked.

GetYourGuide
Travel · Unicorn
$2.0B
Perk
Travel · Unicorn
$2.7B
Neo4j
Enterprise Software · Unicorn
$2.2B
FINN
Transportation · Unicorn
$1.1B
F2G
Health
$500M
Tink
Fintech · Unicorn
$2.0B
JenaValve Technology
Health
$400M
Tink
Home Living
$176M
ZOLAR
Energy
$440M
IO Biotech
Health
Podimo
Media
$429M
Orbex Space
Space
Minervax
Health
$238M
Zealand Pharma
Health · Unicorn
$1.6B
Fora
Travel · Unicorn
$1.0B
Kaia Health
Health
$285M
Templafy
Enterprise Software
$240M
Syntiant
Semiconductors
$220M
Natural Cycles
Health
$220M
MAJORITY
Fintech
$150M
Corti
Health
$240M
Opsona
Health
$182M
Exporo
Fintech
$88M
OxThera
Health
$141M
BLAST
Gaming
$68M
Peakon
Jobs Recruitment
$700M
Prezi
Media
$300M
La Fourche
Food
$139M
Qlub
Fintech
$120M
Egalet
Health
$40M
Roadsurfer
Travel
$132M
FlatFrog Laboratories
Semiconductors
$27M
Orphazyme
Health
$1.9M
Gourmey
Food
$192M
Kontakt.io
Semiconductors
$190M
Zefir
Real Estate
$110M
HeyJobs
Jobs Recruitment
$154M
Issuu
Media
$124M
Taster
Food
$185M
Anergis
Health
$20M
Blackwood Seven
Marketing
$74M
Voyfai
Transportation
$110M
IXI
Health
$132M
Aire
Fintech
$44M
Asetek
Hosting
$98M
NanGate
Semiconductors
$40M
CrateDB
Enterprise Software
$56M
Seriously
Gaming
$92M
CloudMade
Enterprise Software
$31M
Kenbi
Health
$103M
Boozt
Fashion · Unicorn
$1.2B
Formel Skin
Health
$132M
Nuevolution
Health
$167M
Rigontec
Health
$510M
Evolva
Health
$8.7M
FlexAI
Hosting
$120M
Ukio
Real Estate
$75M
Kaisa
Marketing
$42M
Forecast
Enterprise Software
$76M
Lovys
Fintech
$80M
06 · Portfolio founders

Where Heartcore Capital’s portfolio founders come from.

178 founders across the 100 highest-funded portfolio companies — by current location, university attended, and the companies they worked at before founding. Sourced from the founder records the API links to each portfolio company.

LocationCount
  1. Denmark34
  2. Germany30
  3. United States24
  4. France17
  5. United Kingdom17
  6. Sweden13
  7. Finland11
  8. Switzerland7
  9. Spain6
  10. Hungary3
UniversityCount
  1. University of Copenhagen10
  2. Copenhagen Business School9
  3. ETH Zurich6
  4. University of Oxford6
  5. Lund University5
  6. Technical University Munich5
  7. Aalborg University4
  8. Harvard Business School4
  9. Harvard University4
  10. London Business School4
Previous companyCount
  1. Boston Consulting Group7
  2. McKinsey & Company6
  3. IBM4
  4. L'Oreal4
  5. Bain & Company3
  6. Forto3
  7. French National Centre for Scientific Research - CNRS3
  8. Klarna3
  9. Siemens3
  10. Tele23