Investor

Judge us by what we leave behind

We work hard to create healthy, growing businesses, both in order to secure a strong return for our investors, but also because we know that a healthy growing business can be a force of good in the world.

Investor

Judge us by what we leave behind

We work hard to create healthy, growing businesses, both in order to secure a strong return for our investors, but also because we know that a healthy growing business can be a force of good in the world.

Axcel CV

Axcel VII

Axcel VI

Axcel V

Axcel IV

Axcel III

Axcel II

Axcel I

Axcel CV

Axcel CV was raised in 2025 as a standard private equity limited partnership with a total committed capital of EUR 266m. No activities related to the marketing, solicitation or offering of new partnership interests in Axcel CV have been carried out after final closing.

Start-up year

2025

Investment status

Investment period

Geographical focus

Nordics

Legal structure

limited

Companies

Company

Country

Invested

Exit

Fund

Norway

2025

Axcel CV

Axcel VII

Axcel VII was raised in 2023 as a standard private equity limited partnership focusing on the Nordic mid market. The fund held its final close in February 2024 with total committed capital of EUR 1,296m, and the fund is now actively investing. No activities related to the marketing, solicitation or offering of new partnership interests in Axcel VII have been carried out after final closing.

Start-up year

2023

Investment status

Investment period

Geographical focus

Nordics

Legal structure

limited

Investors by type

Investors by region

Companies

Company

Country

Invested

Exit

Fund

Sweden

2025

Axcel VII

Sweden

2025

Axcel VII

Sweden

2024

Axcel VII

Sweden

2024

Axcel VII

Denmark

2023

Axcel VII

Sweden

2023

Axcel VII

Sweden

2023

Axcel VII

Sweden

2025

Axcel VII

Axcel VI

Axcel VI was raised in 2020 as a standard private equity limited partnership focusing on the Nordic mid-market. The fund held final close in 2021 with total committed capital amounts to EUR 807m and the fund is actively investing. No activities related to the marketing, solicitation or offering of new partnership interests in Axcel VI have been carried out after final closing.

Start-up year

2020

Investment status

Realisation period

Geographical focus

Nordic

Investments

12

Legal structure

limited

Investors by type

Investors by region

Companies

Company

Country

Invested

Exit

Fund

Sweden

2022

Axcel VI

Sweden

2022

Axcel VI

Denmark

2022

Axcel VI

Denmark

2022

Axcel VI

Denmark

2022

Axcel VI

Denmark

2022

Axcel VI

Denmark

2022

Axcel VI

Denmark

2021

Axcel VI

Denmark

2021

Axcel VI

Denmark

2020

Axcel VI

Sweden

2020

Axcel VI

SuperOffice

Norway

2020

2025

Axcel VI

Axcel V

Axcel V was raised in 2017 as a standard private equity limited partnership focusing on the Nordic mid-market. The fund was closed at the beginning of 2018 with EUR 617 million in committed capital. No activities related to the marketing, solicitation or offering of new partnership interests in Axcel V have been carried out after final closing. The fund has invested in Nissens, Mountain Top, IsaDora, Aidian (Orion Diagnostica), GUBI, Loopia, European Sperm Bank, Phase One and SteelSeries.

Start-up year

2017

Investment status

Realisation period

Geographical focus

Nordics

Investments

7

Legal structure

limited

Investors by type

Investors by region

Companies

Company

Country

Invested

Exit

Fund

Denmark

2019

Axcel V

Denmark

2019

Axcel V

SteelSeries

Denmark

2019

2022

Axcel V

Denmark

2018

Axcel V

Loopia

Sweden

2018

2024

Axcel V

Nissens

Denmark

2017

2024

Axcel V

Mountain Top

Denmark

2017

2023

Axcel V

Axcel IV

Axcel IV was raised in 2010 as a standard private equity limited partnership focusing on the Nordics mid-market.The fund has committed capital of DKK 3.6 billion (EUR 485 million) and has invested in 12 companies.

Start-up year

2010

Investment status

Realisation period

Geographical focus

Nordics

Investments

2

Legal structure

limited

Investors by type

Investors by region

Companies

Company

Country

Invested

Exit

Fund

Danish Ship Finance

Denmark

2016

2024

Axcel IV

Frontmatec

Denmark

2016

2022

Axcel IV

Axcel III

Axcel III was raised in 2005 as a standard private equity limited partnership focusing on the Danish and Swedish mid-market.The fund had committed capital of DKK 3.0 billion (EUR 400 million) and invested in 11 companies between 2005 and 2009.

Start-up year

2005

Investment status

Fully realised

Geographical focus

Denmark / Sweden

Investments

1

Legal structure

limited

Investors by type

Investors by region

Companies

Company

Country

Invested

Exit

Fund

PANDORA

Denmark

2008

2014

Axcel III

Axcel II

Axcel II was formed in 2000 as a limited company and had committed capital of DKK 2.5 billion.

Start-up year

2000

Investment status

Closed

Geographical focus

Denmark

Investments

0

Legal structure

stock

Investors by type

Investors by region

Axcel I

Axcel I was founded in 1994 as an evergreen fund with committed capital of DKK 1.1 billion (EUR 148 million).

Start-up year

1994

Investment status

Closed

Geographical focus

Denmark

Investments

0

Legal structure

stock

Investors by type

Investors by region

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