These results have primarily been achieved through investment in some of the world’s best venture capital funds, which have a high degree of selection and diversification. This, together with our “wholesale”-based fees etc. can not only enable attractive net returns, but also reduce risk.

In relation to e.g. government bonds, the risk is still significant. However, historical results show that the risk of total loss in the funds is relatively modest, even if the risk of losing your entire investment is theoretically possible. We ourselves assess that the biggest risk lies in the fact that the investments are illiquid over a relatively long period of time, which can result in losses for investors who wish to sell early. Added to this is the currency risk of investing in USD.

For further information about our track record, risk factors etc. please refer to our investment documentation.



  • The figures are calculated per 30/6 2022, though including cash balances etc. per 30/9 2022 in the first two mentioned funds
  • The IRR is calculated based on the time of the respective capital contributions and includes both realized and unrealized results
  • MOC is calculated on the basis of the calculated equity, divided by the total invested capital and shows what one krone (DKK) is valued at on the balance sheet date
  • The valuation of the venture investments made is based on the American GAAP “fair value” rules, based on the valuation made by the venture fund that has made a given investment
  • It must emphasized that fund performance is a question of what the investments ultimately can be realized for