Ada Ventures, a UK-based inclusive VC fund, is an early-stage venture fund managing over £120 million (DKK 1 billion). They have now announced the launch of Ada’s Angels programme in Denmark after the initiative’s success in Great Britain. The Danish launch will give up to 10 angels access to a sum of DKK 6.9 million, which they can invest in exciting new startups.

The fund recently welcomed Denmark’s EIFO (EIFO) as an investor in their £63 million fund II. (DKK 548 million). To strengthen its relationship with the Danish tech scene, Ada Ventures is now launching its successful angel programme in the region.

The Ada’s Angels initiative will work to increase the diversity of angel investors in Denmark by offering training and capital to those who are otherwise excluded from investing due to financial or social constraints.

The angels will be motivated and supported in finding exceptional startup talent, which helps to diversify the spectrum of startups that receive funding in Denmark. It is an extension of Ada Ventures’ investment philosophy that supporting ground-breaking, commercially successful ideas and entrepreneurs can be combined with a commitment to inclusion.

Applications to become one of the first Ada’s Angels in Denmark are now being accepted. The selected participants will have the opportunity to invest up to DKK 200,000 in individual startups that create innovative solutions for economic empowerment, healthy ageing, and climate justice. Each angel can make up to 5 investments during their one-year programme membership. The startups they choose to support must be based in Denmark but also have strong connections to the UK. Apply here

Key facts about the programme:

• Cohort size: up to 10 Danish Ada Angels.
• Total pool of capital available: up to £800,000 (approximately DKK 6.9m)
• The pool will be available for the cohort of Danish Ada Angels to invest in on a first-come, first-served basis, with checks of DKK 200,000 (approximately £20,000) per investment/company.
• As a guideline, each Danish Ada Angel will be expected to make three investments over 12 months. As a rule, each Angel can make a maximum of five investments.
• Investments must focus on companies helping solve problems across: Economic Empowerment, Healthy ageing and Climate Equity
• Each investment will need to be in a company that has a strong link back to the UK.

Criteria to become an Ada’s Angel in Denmark:

Compulsory criteria:

• Have access to companies in our three themes
• Have access to a network/community of underrepresented founders in Denmark
• Be aligned with the Ada Ventures values and code of conduct
• Be mission-aligned with Inclusive Alpha

Application process

• The initial application will be through an online form; applications are open now (March 19th) and will close on April 7.
• Each application will be scored against a predefined framework, and a shortlist will be selected from the highest scorers based on the criteria above.
• Initial online interviews are targeted to be held on April 15–19.
• In-person interviews are to be held in Denmark (Copenhagen) on April 24–26.
• Final acceptances are expected to be issued by April 30th.
• Debut of the Danish Ada Angels on stage on 23 May in Aarhus, at StartUp Aarhus TownHall event.
• Progress on the programme will be shared with Danish-based founders at TechBBQ in September

About the founders

Ada Ventures was co-founded by Check Warner and Matt Penneycard, who are equal partners.

The team has over combined two decades of investment experience in early-stage companies, having backed a range of the UK’s fastest-growing startups and championed businesses at pre-seed and seed stage that have gone on to be backed by top venture funds in the US and UK such as GV, NFX, DCVC, and Index Ventures.

Check is also one of the co-founders of Diversity VC, the non-profit dedicated to diversity and inclusion in venture capital and entrepreneurship, which has published several original studies on the subject since its launch in March 2017.

A massive shout out to Rhiannon Evans-Young and Crest Communications for reaching out to me with the details of this programme offering