Ugly Duckling Ventures
Ugly Duckling Ventures (UDV) is a Copenhagen-based venture capital firm founded in 2021 by experienced entrepreneurs Andreas Green Rasmussen, Rune Hven-Jensen, and Louise Lachmann. The firm focuses on early-stage investments, particularly in pre-seed and seed stage companies within the Nordic region, especially Denmark. UDV manages a fund of approximately DKK 150 million and is currently raising DKK 250 million for its second fund. UDV offers a range of services to early-stage startups, including capital investment, operational expertise, strategic guidance, and access to a valuable network o
Investing activity
Ugly Duckling Ventures appears in 2 AI deals tracked by the AI Lounge deals desk, and led 2 of them. The rounds are mostly Seed, with a median round size of $6M. The most recent are Spiich (Seed, €3M, Sep 2026) and Velatir (Seed, $5.8M (EUR 5.0M), Aug 2026).
Ugly Duckling Ventures most often invests alongside Alliance VC, Ampli Ventures, Cherry Ventures and Spintop Ventures, and the companies it backs on AI Lounge are mostly in AI.
Deals
Frequently asked questions about Ugly Duckling Ventures
What AI companies has Ugly Duckling Ventures invested in?
Ugly Duckling Ventures's AI investments include Spiich and Velatir. The 2 rounds on AI Lounge are listed on this page with amounts, dates and co-investors.
Where is Ugly Duckling Ventures based?
Ugly Duckling Ventures is based in Copenhagen, Capital Region of Denmark, Denmark.
What stage does Ugly Duckling Ventures invest at?
In the rounds tracked on AI Lounge, Ugly Duckling Ventures has invested at Seed, with a median round of $6M. Ugly Duckling Ventures led 2 of those rounds.
Who does Ugly Duckling Ventures co-invest with?
Ugly Duckling Ventures's most frequent co-investors on AI Lounge are Alliance VC (1 deal), Ampli Ventures (1 deal), Cherry Ventures (1 deal), Spintop Ventures (1 deal) and Thomas Visti (1 deal).
How can founders reach Ugly Duckling Ventures?
Founders on AI Lounge can see Ugly Duckling Ventures's contact details in AI Investor Contacts (paid plans), check for a warm introduction through members who worked with the firm under Warm Paths, and add Ugly Duckling Ventures to their Investor Pipeline to track the conversation.