For investors
The Nest
A concentrated Nordic early-stage strategy built by founders and operators.
We believe active GPs can influence venture outcomes. That's why we run concentrated portfolios, invest where we have genuine experience and reserve meaningful capital to follow our strongest companies.
01
A focused strategy
Nordic B2B software and technology with real commercial traction.
02
A concentrated portfolio
Enough companies to build a portfolio. Few enough that the GPs can know them deeply.
03
Heavy follow-ons
We build conviction before committing the largest part of our capital.
04
Founder/operator advantage
The GPs have built, scaled, funded and exited companies themselves.
05
GP-only
Our most experienced people do the investing and work directly with founders.
06
Alignment
The GPs invest meaningful personal capital alongside LPs.
Our funds
Fund II cornerstone LP
EIFO joins Fund II.
The Export and Investment Fund of Denmark (EIFO) has invested in The Nest Fund II, backing our mission to find and support the next generation of Nordic B2B founders. The partnership gives Fund II additional firepower to back overlooked companies early and follow the winners hard.
Read the announcementFund I proof point
Backing companies before they're obvious.
Eupry is the clearest example of our philosophy. A company initially overlooked by much of the market, which went on to raise a major Series A. We invest early, work closely with the founders, and let the company become obvious to everyone else later.
Read the Eupry announcement
The LP experience
- Direct GP access
- Recurring LP gatherings
- Access to a network of experienced founders and operators
- Selected co-investment opportunities where appropriate
- Transparent communication
Request Fund II materials
We like to get to know potential LPs long before the next fundraise. Leave your details and one of the partners will get in touch.
Write to us at hello@uglyduckling.ventures and tell us a little about your organisation, investor type and typical investment range.