# Velux Foundations

Velux Foundations is an Endowment / Foundation based in Søborg, Denmark.

## Overview

- **Organization type:** Endowment / Foundation
- **Headquarters:** Søborg, Denmark
- **Region:** Europe
- **Address:** Tobaksvejen 10, 2860 Søborg, Denmark
- **Founded:** 1981
- **Assets under management:** 2199.5 (Altss estimate)
- **Website:** veluxfonden.dk
- **LinkedIn:** https://linkedin.com/company/velux-fonden

## Regulatory record

- **Reports private funds:** No

## About

The Velux Foundations were established in 1981 by Villum Kann Rasmussen, whose building-products companies formed the VKR Group. Villum Fonden serves as the primary foundation and majority owner of VKR Holding A/S, while VELUX FONDEN focuses on social initiatives, humanities and marine environments. Both entities follow UN Global Compact principles and Paris Agreement commitments. The foundations deploy capital across private equity, renewable-energy infrastructure and sustainable real assets. Confirmed holdings include a majority interest in VKR Holding A/S, receiving approximately 90% of its dividends,, which controls Velux A/S and Dovista A/S, plus limited-partner exposure to Proterra via G2VP Fund. Geographic reach spans Denmark, broader Europe and global markets through climate-focused mandates. They also maintain a dedicated green-impact portfolio valued at $175 million. The organizations employ no disclosed investment staff count and maintain no additional offices beyond the Søborg headquarters, which is undergoing renovation for improved sustainability. Adjacent vehicles include KR Foundation, established in 2014 to address climate-change root causes, and Velux Stiftung in Switzerland. No operational events from the last 24 months appear in available records. Ownership flows through Villum Fonden’s controlling stake in VKR Holding A/S, creating a direct link between the operating company’s cash flows and the foundations’ grant-making capacity. Descendants of Villum Kann Rasmussen retain minority ownership and board seats, while external advisors such as Cambridge Associates and Maj Invest support investment execution.

## Sectors

- Renewable Energy
- Clean Technology
- Environmental Services

## People

- Jens Kann-Rasmussen — Chair of Villum Fonden
- Lykke Kann Ogstrup Lunde — Chair of VELUX FONDEN

## Questions

### Who runs investment decisions at Velux Foundations?

Jens Kann-Rasmussen chairs Villum Fonden and Lykke Kann Ogstrup Lunde chairs VELUX FONDEN. External advisors Cambridge Associates and Maj Invest provide investment support.

### How does Velux Foundations source proprietary deal flow?

Deal flow arrives through direct ownership of VKR Holding A/S and relationships with Copenhagen Infrastructure Partners for renewable-energy infrastructure.

### Does Velux Foundations participate in fund commitments or only direct deals?

The foundations make both direct holdings, such as the stake in VKR Holding, and fund commitments including Sonen Capital Global Sustainable Real Assets Fund I and G2VP Fund.

### What is Velux Foundations posture on co-investments alongside external GPs?

The foundations act as limited partners in external funds while retaining direct ownership of operating businesses through VKR Holding A/S.

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Last updated: 2026-06-28T22:09:06.639Z

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