EIF IN
DENMARK
Investing in the future of Danish SMEs
Small and medium-size enterprises are the heart of the Danish economy.
Representing 99% of all businesses and more than two thirds of the workforce, Denmark's 250,000 SMEs are responsible for driving innovation as well as spurring on growth, and their daily routine is what ensures the competitiveness of the Danish economy. But to do that, they often need finance.
At the same time, as the smallest actors in the economy, they are often the hardest hit when the economy encounters turbulence, which is why it is so crucial for them to have financial options in order to maintain and eventually grow their businesses.
At the EIF, our mission is to improve access to finance for small businesses across the EU. In Denmark, we have been supporting SMEs using a broad range of instruments, including many tailored to the needs of the Danish market and designed with the Danish government and local authorities.
As a result, we've been able to support close to 4,800 Danish businesses, ranging from companies developing novel medicines for inflammatory diseases, a local Copenhagen café, and art-buying services, making sure they have the financial fuel they need to pursue their ambitions.
Our intention is to continue to extend this type of support to the Danish market, making access to finance easier as we collectively move towards a greener, digital and more inclusive Europe.
Success stories


Hybrid Greentech
Success stories

Hybrid Greentech
Rasmus Rode Mosbæk, founder and CEO of Hybrid Greentech, specialises in energy storage, combining consultancy services with a virtual power plant facility. To integrate more renewables in the electricity grid and phase out of fossil fuels, it’s essential to ensure the energy grid’s stability.
Hybrid Greentech addresses this challenge with an energy trading system and a virtual power plant, using customers’ stationary battery units and AI-driven to balance the grid and optimise energy supply and demand. Rasmus adds that Hybrid Greentech “aggregate all the batteries we have under management into energy trading, to ensure operating profit and to stabilise the grid. We also try to optimise the lifetime of the interconnected batteries in the portfolio.”
Prioritising business value and sustainability, Rasmus concludes that “we can help our customers like electric charge points operators and other large energy users assess their needs, and through our virtual power plants, we can help them reduce payback time by ten years, increase operating profit by 40% per year, and decrease battery degradation by 61%.”
Sector Energy
Purpose Business expansion

UNION Therapeutics
“In the course of our research, we discovered that niclosamide has very interesting properties in that it reduces the ability of overactive cells to produce energy. We saw how it could also be used for both anti-inflammatory and anti-viral purposes, and we were keen to explore this more,” explains Dr Rasmus Toft-Kehler, co-founder of UNION, a Danish bio-pharmaceutical company dedicated to the discovery and development of novel medicines targeting inflammatory and infectious diseases.
When studies identified niclosamide in 2020 as the most potent FDA-approved inhibitor of SARS-Cov-2 - the virus causing COVID-19, UNION shifted gears, launching a programme to test the salt form of niclosamide as a treatment for COVID-19 in collaboration with Institut Pasteur Korea. “What’s interesting is that niclosamide works on the host cell, not the virus, so it’s difficult for the virus to develop resistance. This could be the perfect stockpiling product and can be easily scaled to cover all of Europe. Ultimately, this can help to avoid lockdowns and the economic disasters we’ve seen,” Rasmus notes.
Sector Pharmaceutical
Purpose R&D, Product development, Launching clinical trials

Vrigsted Efterskole
Dyslexia, a learning difficulty affecting many people’s ability to read and write, can also have psychological impacts. “Students know that they have a disability that holds them back, so they often feel inferior inside and outside the classroom, and their self-esteem drops,” explains Kirsten Weile, the headmistress of Vrigsted Efterskole, a specialised private high school for dyslexic students.
“We adapt the national curriculum to the specific needs of our students and give them the tools to deal with their dyslexia outside our premises,” explains Kirsten. “Our aim is to help our students bring out their best and provide an environment in which they feel comfortable to make mistakes and learn from them. Does it work? No doubt about it. Our kids go back into the main educational system, and they achieve good results. They are able to succeed in national examinations and get into technical schools or even university,” Kirsten adds.
Sector Social enterprise
Purpose Construction of facilities

Elk Film
Elk Film is a Copenhagen-based documentary production company that creates deeply researched films and storytelling projects that bring unseen human stories to global audiences. In a media environment defined by speed, Elk Film is betting on depth. Even as true crime and celebrity docs dominate the streaming charts, there’s growing appetite for films that go further – emotionally, ethically, and intellectually.
“With social media, and the fast world we are living in – I think there’s a demand for films that are slower but more depth-rich. Independent films can cover topics that big streaming companies wouldn’t dare touch,” explains Andreas Dalsgaard, CEO of Elk Film. With a team of filmmakers, anthropologists, researchers and producers, Elk Film is in the business of telling the stories that would otherwise go untold. Whether it’s gangs and power brokers in Haiti, bodybuilders in Kabul, or the quiet personal journeys behind social change, they make films that challenge the narratives we’re used to – and replace them with something more human, complex and surprising.
Sector CCS
Purpose Product Development

Maripure
“95% of emissions coming from cows actually come from the front, not the back,” states Damien Balkin – starting our interview with somewhat of a revelation for the uninformed. And Damien would know. He’s the founder of Maripure, a young company based on the very tip of northern Denmark. They have an ambitious goal: to reduce greenhouse gas emissions from the agrifood system. Now they are tackling one of agriculture’s largest emitters – cows – with a nature-based feed supplement made from seaweed biomass. Looking ahead, the company's focus is to prove efficacy at commercial levels and demonstrate how circular, nature-based solutions can transform the agrifood sector. “To constantly advocate for nature-based approaches – whether that’s in the research lab or in front of investors – is why I clock out of work with a smile on my face,” Damien concludes.
Sector Agritech
Purpose Capacity expansion
Artboost
“Historically, art has been largely reserved for a small elite. We want to change that and democratise art,” says Anders Cederholm, co-founder of Artboost, an online platform that connects buyers directly to artists, boasting 8000 artists and users in 130 countries. By-passing galleries and auction-houses, Anders wants to make art more affordable and accessible to everyone.
Anders grew up surrounded by art – his uncle a collector “with art from the floor to the ceiling of his house. Whenever I paid a visit, I was always fascinated.” This passion stayed with him, resulting in Artboost. “It’s not just a marketplace, it’s an ecosystem to get more art into the world. The platform uses AI to generate more traffic for artists’ pages, matching users with artwork they might.” Since launching in 2014, the company have sharpened their B2B offering. “The art-for-offices business is thriving. Scientifically, it’s a proven way to raise employees’ productivity. It makes them more creative and less stressed.”
Sector Art
Purpose Working capital to scale up
Figures as of December 2025
Over
of EIF financing
Equity investments since inception
Guarantees support since inception
made available for
Danish businesses
Mandates in focus
The EIF continues to deploy capital in Denmark under a wide range of strategic programmes and mandates. Below are brief summaries of our main initiatives in Denmark.
InvestEU
The InvestEU programme provides the EU with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It is helping to mobilise private investments for the EU's policy priorities, such as the European Green Deal and the digital transition. The InvestEU Programme brings together under one roof the multitude of EU financial instruments previously available to support investment in the EU, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is implemented through financial partners that will invest in projects using the EU budget guarantee of €26.2 billion. The entire budget guarantee will back the investment projects of the implementing partners, increase their risk-bearing capacity and thus mobilise at least €372 billion in additional investment.
RCR
The EIB’s Risk Capital Resources (RCR) is the core pillar of the EIF’s equity activity. It has enabled us to pursue our equity strategy in the venture capital and growth segments for more than 25 years. In 2025, RCR accounted for about 30% of our equity activity, committing €2.1bn to financial intermediaries.
EFSI
The European Fund for Strategic Investments formed part of the EU's Investment Plan for Europe, launched by the European Commission in 2015. EFSI addressed market gaps in financing - whether in infrastructure, research, energy efficiency or risk finance for SMEs – and mobilised private investment into these areas. Through EFSI the EIF deployed €10.5bn in resources of the European Commission, the EIB and the EIF to improve access to finance for SMEs and small midcaps.
REPowerEU
The EU launched REPowerEU in 2022 to reduce dependence on fossil-fuel imports and accelerate the green transition. To support the plan, in October 2022, the EIB Group developed a package of measures focussing on renewable energy, energy efficiency, electricity networks and on deepening its engagement in green innovation and breakthrough technologies. Under REPowerEU, the EIF will invest €4.5bn by 2027 through EIF equity products.
EGF
The European Guarantee Fund was created by the EIB Group with contributions from Denmark and other Member States to protect companies struggling in the crisis caused by COVID-19. With almost €25bn in guarantees, the EGF allowed the EIB and EIF to swiftly offer companies, mostly SMEs and mid-caps, access to loans, guarantees, asset-backed securities, capital and other financial instruments. The EGF forms part of the package of recovery measures put in place by the EU, with the objective of providing a total of €540bn to support the hardest hit sectors of the European economy.
EAF - Denmark
EAF - Denmark is a DKK 200m co-investment initiative funded by the EIF and Vækstfonden (now the Export and Investment Fund of Denmark - EIFO). Established in 2016, it represents the component of the European Angels Fund (EAF) focusing on investments in Denmark. The initiative is advised by the EIF in cooperation with Vækstfonden as a sub-advisor and aims at providing equity to Business Angels and other non-institutional investors to finance innovative or technology-oriented companies in the form of co-investments.
