# GRO Capital

GRO Capital is a Private Equity based in Lambertville, Denmark.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Lambertville, Denmark
- **Region:** Europe
- **Address:** Copenhagen, Denmark
- **Founded:** 2014
- **Assets under management:** Undisclosed
- **Website:** www.grocapital.dk
- **LinkedIn:** https://www.linkedin.com/company/gro-capital

## Regulatory record

- **CRD number:** 131554
- **Registration status:** Registered
- **Reports private funds:** No
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/131554

## About

GRO is a private equity firm that partners with technical founders and experienced leaders building enterprise-grade, mission-critical B2B software. It is thematically-driven and exclusively focused on advanced B2B software, investing flexibly as a minority or majority partner across the Nordics, DACH, Benelux, and the UK. The firm actively supports scaling journeys with operational experience and has €1.2 billion in assets under management.

## Sectors

- Enterprise Software
- FinTech
- Digital Health

## People

- Lars Lunde — Managing Partner

## Questions

### Does GRO Capital do anything other than software?

No. GRO Capital was structured from inception exclusively for B2B software. The firm's mandate covers enterprise software, fintech infrastructure, and digital health platforms, but all portfolio companies share a core software-product DNA. GRO does not invest in hardware, services-heavy businesses, or consumer-facing applications.

### What investment stages does GRO Capital target?

GRO targets the lower mid-market, writing first institutional checks into companies with €5–40 million in revenue. The firm does both majority buyouts and structured minority positions. It explicitly avoids seed and early-venture risk, preferring companies that have already achieved product-market fit and are ready for scale-focused operational intervention.

### Which geographies does GRO Capital cover?

The firm invests across the Nordic region (Denmark, Sweden, Norway, Finland), the DACH region (Germany, Austria, Switzerland), and the Benelux countries. GRO has not made public commitments to geographies outside Northern and Western Europe.

### How large is GRO Capital's latest fund?

GRO Fund III closed at €450 million in October 2023, exceeding its original fundraising target (per the firm's official communications, October 2023). The fund maintains the same sector-and-geography concentration as prior vintages.

### Does GRO Capital participate in fund commitments or only direct deals?

GRO Capital invests directly into portfolio companies; it is not a fund-of-funds. The firm has not publicly disclosed a practice of committing capital to other private equity funds. Its model is hands-on operational engagement, which requires direct equity positions.

### What companies has GRO Capital backed?

Publicly disclosed positions include Cardlay, a Danish fintech that provides card and expense management infrastructure to banks, and Cint, the Stockholm-based digital insights and market research platform. Cint completed its IPO on Nasdaq Stockholm in 2021, during GRO's holding period.

## Related profiles

- [Grizzly Hill Capital](https://altss.com/profile/grizzly-hill-capital)
- [GroChina Capital](https://altss.com/profile/grochina-capital)

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Last updated: 2026-08-11T15:06:57.816Z

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