Welcome to DVCA

Danish Venture Capital and Private Equity Association
DVCA is the trade association for a wide range of investors in Denmark and concentrates on making Denmark an even more attractive place to invest, both nationally and globally.

Members
DVCA has more than 200 members representing the whole investment chain from business angels through venture capital and private equity to institutional investors and associate members.

Aim
DVCA aims to strengthen its members’ business, networks and skills through a variety of activities and committees focusing on specific areas.

DVCA was founded in 2000 and has its offices in the Old Stock Exchange in Copenhagen.

Benefits of membership

Belonging to an active, broad-based, national trade association promoting active ownership, venture capital and growth capital.

Access to an influential organisation with a strong media profile and the ear of government and policymakers.
An opportunity to shape the development of a growing industry by participating on DVCA’s committees and board.

Signal your interest in supporting the development of venture capital and promoting technology, productivity and entrepreneurial activity in Denmark.

 

DVCA’s members – facts and figures
DVCA has more than 200 members, from business angels to venture capital and private equity funds:

Private Equity 2011/2012

Almost DKK 70bn under management, mainly for pension funds and banks, and much of it attracted from abroad.
DVCA estimates that Danish PE funds have “dry powder” of more than DKK 10bn to invest in Danish jobs and have attracted new capital of more than DKK 7bn from investors since 2011.
PE funds are better than listed companies at creating value for investors – around 6 percentage points more allowing for all other factors.
Portfolio companies’ revenue grew from DKK 193bn in 2010 to DKK 219bn in 2011, an increase of 13.4%.
Their earnings climbed from DKK 13.3bn in 2010 to DKK 15.5bn in 2011.

They generated organic growth of 12.3% in 2011, compared with 7.5% for the private sector as a whole.

Their global workforce grew from 565,000 in 2010 to 587,000 in 2011.

Their current tax came to DKK 2.7bn in 2011, giving an effective tax rate of 37.7%.
PE has produced a good return for investors: an IRR of almost 33% per annum for ordinary savers since 2000.

Venture capital funds 2011

VC funds invest in business start-ups and contribute skills, networks and experience.
More than DKK 22bn under management, mainly for pension funds and banks, and much of it attracted from abroad.
Portfolio companies generated revenue of more than DKK 29bn in 2011, equivalent to around 2% of GDP.
Yet they accounted for 5% of the increase in private sector employment in 2005-08.
Their global workforce of 24,000 is equivalent to 1% of the Danish labour force, and most of these jobs are in Denmark.
They invested more than DKK 3.7bn in R&D in 2011, more than an eighth of the amount required for the Danish private sector to meet the Barcelona objective.
Exports exceeded DKK 17bn.
VC-owned companies’ potential (source: Vækstfonden and Deutsche Bank)
16,000 new high-tech jobs: the current figure of 24,000 is expected to rise to 40,000 in 2012.
DKK 48bn revenue growth: revenue is forecast to increase from DKK 29bn to DKK 77bn in 2012.
DKK 33bn export growth: exports are forecast to climb from DKK 17bn to DKK 50bn in 2012.
High economic multiplier: every DKK 1 invested in VC boosts GDP by DKK 5-10.

Business angels

Business angels provide seed capital for business start-ups and contribute skills, networks and experience.
The Danish Business Authority estimates that they had investments of DKK 32-48bn in 2009, much of it venture capital.
Their seed capital is an essential factor in commercialising innovations.
Business angels are the first link in the chain before the likes of venture capital funds..
They are typically successful entrepreneurs who have made money running or selling one or more businesses.