Nordic Makers

Decisions are made collectively by the general-partner group of Nima Tisdall, Alexander Aghassipour, Michael Seifert, Lars Fløe Nielsen, Klaus Nyengaard, Martin von Haller Grønbæk, and Moaffak Ahmed. Each partner brings direct founder-operator experience from at least one Nordic unicorn. There is no external investment committee.

It describes itself as a group of entrepreneurs investing their own money rather than as venture capitalists. Operationally it functions as a small, internal-capital venture firm — writing structured seed checks with follow-on reserves — but its architecture lacks the LP-return mandate of a traditional fund.

The firm only makes direct equity investments into operating companies. Its disclosed activity shows no fund-of-funds commitments, secondary positions, or SPV aggregations.

Pre-seed and seed. The firm writes initial checks of €500K to €1M and explicitly states it follows on in later rounds. It does not lead Series A or growth-stage rounds but reserves capital to maintain pro-rata positions.

Its website lists six negative screens: MedTech, BioTech, impact measurement, marketing automation, crypto, and VR/AR. Beyond these, the focus remains on B2B software, though portfolio company Copenhagen Atomics indicates openness to deep-tech energy when a software-centric thesis extends to hardware.

Personal liquidity events from the founding and scaling of Zendesk (acquired for $10.2B), Sitecore (valued at $1.1B in 2016), and Just-Eat (IPO at £1.47B market cap), among other exits. The firm does not manage outside limited-partner capital.

Through the Nordic founder networks of its partners — built over decades of operating Zendesk, Sitecore, and Just-Eat — and via community infrastructure such as the Slush conference (board representation) and the Copenhagen startup ecosystem (co-creator of CPHFTW). It does not disclose a scouting program or external sourcing partnerships.