GRO announces final close of GRO Generation I at hard cap of €150 million
press release

June 30, 2024

Building on the success of the GRO fund series, GRO is excited to announce the launch of GRO Generation.

Krista Hein Lindahl

Building on the success of the GRO fund series, GRO is excited to announce the launch of GRO Generation. Backed by premier institutional investors, GRO raised €150 million for GRO Generation I within 3 months of launch, elevating total assets under management to €1.2bn. The fund aims to capitalize on opportunities within the B2B software domain across Northern Europe. The fundraise follows the successful raise of GRO III, a €600 million fund closed in March 2022.

Copenhagen, Denmark - July 1, 2024

GRO announces the launch of its latest fund, GRO Generation I, with a raise of €150 million. Consistent with GRO’s proven investment strategy, the fund provides the team with greater flexibility to partner with high-growth B2B software companies across Northern Europe.

GRO Generation I marks an extension of GRO’s geographical reach by including the UK and Ireland to the existing core regions.

"By continuing to refine our focus, we aim to capitalize on a broader part of the value chain, ensuring that we do not overlook potential high-growth and consequently high-value investments across Northern Europe. This strategy is designed to enrich our portfolio and provide a good return to our investors,” says Lars Dybkjær, Managing Partner at GRO

Building on proven model

GRO Generation I is backed by existing investors along with new partners, reflecting strong confidence in GRO’s strategic vision and operational capabilities.

“GRO Generation will build on the proven GRO model with a narrow thematic focus on B2B software companies addressing fundamental societal challenges within resource efficiency, cybersecurity, energy and digitization,” says Lars Dybkjær.

GRO Generation I aims to invest in target companies with a min. annual recurring revenue of approx. €3 million. With a proven operational toolbox, supported by detailed benchmarking and an experienced team of operators, GRO will support these companies in building the necessary foundations for sustainable growth.

A snapshot of GRO

GRO is an experienced strategic private equity investor, specializing exclusively in B2B software. It is headquartered in Copenhagen with additional offices in London and Oslo. With GRO Generation I, GRO has assets under management now totaling ~€1.2bn.


For any questions/queries, please contact

We Invest in and Develop Outstanding Software Companies

Krista Hein Lindahl


GRO, 12 Hay Hill
London W1J8NR
United Kingdom