đŸ‡©đŸ‡° Aarhus-based venture fund raises DKK 600 million to fuel knowledge-intensive innovation and growth

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Foto: Lise Balsby.

The Aarhus University Research Foundation, together with HEARTLAND, Norlys, and Salling Group, is launching a new venture fund—Delphinus Venture Capital—with the shared goal of becoming a driving force in East and Central Jutland’s startup ecosystem, particularly for research-based ventures.

Delphinus is set up as an evergreen fund and will support companies from the pre-seed stage through to scale-up, emphasizing long-term value creation rather than the quick returns typical of traditional venture funds.

New Leadership and Long-Term Vision

Mathias Brink Lorenz has been appointed director of the fund. He highlights the recent evolution of the Danish venture capital scene and sees Delphinus as providing the region with a long-view investor that will support companies throughout their entire lifecycle:

“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.”

Lorenz brings international venture capital experience to the role, most recently as Investment Director at the European Circular Bioeconomy Fund in Germany, where he led investments in research-intensive startups across Europe.

Empowering Researchers to Fuel Societal Development

Brian Bech Nielsen, chair of the Aarhus University Research Foundation board and rector of Aarhus University, calls the creation of Delphinus “a quantum leap” in the university’s efforts to back research-driven businesses:

“This unique partnership in our region will ensure that research ideas are transformed into sustainable, commercially viable companies. I’m particularly excited that this significant support will allow more researchers to finance their entrepreneurial ideas—from early-stage proof-of-concept to market-ready solutions—enabling them to contribute even more powerfully to societal progress.”

    Business Partners Bring Strategic Momentum

    The fund’s structure includes close ties to the business community, with three strong local partners bringing a broader, innovation-savvy perspective:

    • Lise Kaae, CEO of HEARTLAND, says:
      “We are proud to support the creation of Delphinus. We believe it has great potential to provide locally anchored, long-term funding for promising growth companies.”

    • Anne Mette Aaby Aes, CFO of Norlys, adds:
      “Developing future solutions takes time. As a cooperative, we can invest patiently and help entrepreneurs grow ideas into successful businesses. We also aim to help create and retain research-intensive jobs in East Jutland.”

    • Andreas MĂžballe (Head of Strategy, M&A and Salling Seeds, Salling Group) states:
      “The vision behind Delphinus aligns with our ambition to foster innovation by drawing on new insights from beyond our core areas. We’re excited to actively support local entrepreneurs, together with the university and leading regional businesses.”

    What’s in a Name—and Where It Begins

    Named after the dolphins featured in Aarhus University’s seal, Delphinus Venture Capital will be based in Aarhus to stay close to key research environments—Aarhus University, Aarhus University Hospital, and other innovation hubs in the region.

    The formal launch will take place on 17 September 2025 at Incuba in Katrinebjerg, Aarhus.

    This press release was translated from Danish.

    Contacts