Latest fund size
$93M
Announced
August 15, 2025
Global HQ
Denmark
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Check size
$500K – $10M
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Stage focus
Seed, Series A, Series B, Growth (Series C+)
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Regions of investment
Europe
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Delphinus Venture Capital is an Aarhus, Denmark–based investment firm founded in 2025 by Mathias Brink Lorenz. The firm was created to back research-driven, technology-intensive startups across Denmark and beyond, leveraging close proximity to major research hubs such as Aarhus University, Aarhus University Hospital, and other regional innovation centers. Named after the dolphins on Aarhus University’s seal, Delphinus operates with a long-term, founder-aligned approach that extends from pre-seed to scale-up stages.
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Names, roles, emails and LinkedIn profiles for the team, plus the fund's website.
Delphinus targets startups with deep research foundations and strong commercialization potential.
Core areas of interest include technology-intensive and research-focused ventures that can address significant market needs through innovative science and engineering.
The firm supports companies across the full development cycle, from lab-based proof of concept to scaling established operations.
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What the fund looks for in founders and which sectors it backs.
In August 2025, Delphinus Venture Capital launched an €80 million evergreen fund to invest in research-driven startups from pre-seed to scale-up.
The evergreen structure allows the firm to provide flexible, patient capital without the typical constraints of closed-end venture funds. Backed by four founding partners (Aarhus University Research Foundation, HEARTLAND, Norlys, and Salling Group) the fund is designed to give portfolio companies long-term support through successive growth phases. Delphinus plans to remain engaged from initial investment through later-stage financing, enabling founders to develop and commercialize breakthrough technologies at a sustainable pace.
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Fund size, LPs and track record.
Leadership
Founder and CEO Mathias Brink Lorenz leads the firm, bringing a clear vision for integrating research excellence with entrepreneurial execution. His leadership is grounded in the belief that impactful innovation requires not only capital but also time, strategic guidance, and deep sector engagement.
Investment Strategy
The firm’s strategy emphasizes sustained engagement, flexible deal structuring, and the ability to invest at multiple stages in a company’s growth.
By maintaining close ties to academic research environments, Delphinus positions itself to identify promising technologies early and help founders navigate the complex path from discovery to market.
The evergreen model allows the firm to avoid short-term exit pressures and focus on maximizing long-term value creation.
Notable Investments
As the fund is newly launched, the initial portfolio has not yet been publicly disclosed.
Notable Exits
There are no publicly disclosed exits to date.
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Leadership, investment strategy, notable investments and exits.
