ConsumerEnterprise SoftwareAIBiotech & Life SciencesClimate & EnergyHardware & SemiconductorsInfrastructure & Cloud
Heartcore Capital is one of Europe's longest-standing pure early-stage venture capital firms, founded in 2007 in Copenhagen. Originally known as Sunstone Capital, it backs European founders from inception through Series A across consumer technology, software infrastructure, synthetic biology, and climate tech. In December 2024, it closed its Fund V at €170 million (~$180 million), broadening its thesis beyond consumer internet into infrastructure, AI, and deep tech.
Deal activity decreased year-over-year (3 deals in the last 12 months vs 5 prior). Average disclosed round size is $30.6M (across 66 rounds with reported amounts).
Portfolio
68
Fund Size
$180M
Top Stage
Series A
Last 12 Mo
3
Team
SR
Søren Rask Tange
Finance Director
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
103 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 EGIDE | Seed | — | Mar 2026 |
 Capalo AI | Series A | — | Feb 2026 |
 Isentroniq | Unknown | — | Oct 2025 |
 Skynopy | Unknown | — | Jun 2025 |
| IIXI | Series A | $32.2M | Apr 2025 |
| PPixieray | Series A | $36.5M | Apr 2025 |
 Fora | Series A | $40M | Apr 2025 |
 PhaseTree | Seed | — | Mar 2025 |
 Wingbits | Seed | $5.6M | Jan 2025 |
 IXI Eyewear Oy | Series A | $36.5M | Jan 2025 |
 375ai | Unknown | $5M | Jan 2025 |
 Hyperbeat | Seed | $5.2M | Jan 2025 |
 Superform | Seed | $3M | Dec 2024 |
 Byway | Series A | — | Jul 2024 |
 MAJORITY | Series B | $20M | May 2024 |
 Arcium | Seed | $5.5M | May 2024 |
 FlexAI | Unknown | — | Apr 2024 |
 Carbonpool | Unknown | $12.2M | Jan 2024 |
| Superform | Seed | $3M | Jan 2024 |
 HeyJobs | Series B | $47M | Jan 2024 |
 HeyJobs | Series B | $64M | Jan 2024 |
 Quesma | Pre-Seed | $2.3M | Dec 2023 |
| LLikeminded | Seed | — | Aug 2023 |
| MAJORITY | Series B | $9.8M | Jun 2023 |
 Quell | Series A | $10M | Feb 2023 |
Page 1 of 5
Top Co-Investors
Balderton Capital10 shared
Eurazeo9 shared
Symphony Ventures8 shared
Optum Ventures8 shared
Headline8 shared
private angel investors6 shared
Octopus Ventures5 shared
Bpifrance5 shared
Breega5 shared
SoftBank Vision Fund4 shared
Global Founders Capital4 shared
Phoenix Court Group4 shared
First Round Capital4 shared
BGF4 shared
High-Tech Gründerfonds4 shared
Felix Capital4 shared
Korelya Capital4 shared
Partech Africa4 shared
Point Nine Capital4 shared
Keen Venture Partners4 shared
Last updated: 7 October 2026