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LundXY Global Ventures
Private Company
Industry Venture capital
Founder Morten Lund
Headquarters Copenhagen, Denmark
Number of locations
Hong Kong, London, Singapore, San Francisco
Key people
Morten Lund (CEO), Anya Maxwell (original Partner), Rasmus Boegh (original Partner)

LundXY Global Ventures is an angel investment and startup catalyst headquartered in Copenhagen, Denmark, founded by serial entrepreneur Morten Lund in 2007. Lund is the seed investor behind Skype,[1] sold to online auction company eBay for US$2.6bn in September 2005,[2] and latterly ZYB, the Danish social networking site sold to Vodafone Europe BV for $49m in June 2008.[3] By 2013 parts of the operation had been superseded by Lund's new OnlyXO network.


From 2007 the firm managed a portfolio of companies encompassing web and mobile telecommunications, content and media, financial services and clean technology.[4]

It backed 2008 World Economic Forum Technology Pioneer of the Year Nikolaj Nyholm and his startup Polar Rose,[5] as well as Nyholm's previous start-up Imity (acquired by social networking site ZYB for an undisclosed sum in April of that year).[6] Another company to secure financial backing from LundXY was Aresa, a landmine detection startup named WEF Technology Pioneer of the Year in 2007. After a promising start, advanced field testing in Serbia in late 2008 failed to produce the desired results, with the value of the patents falling into question. Untypically for a LundXY project, Aresa had to be shut down. The third quarter results of 2008 were its last as a biotechnology company.

LundXY was part of the Digital Life Design Community (DLD) and Lund, the architect and ideologist behind the company, was ranked as one of the most influential people in the tech industry.[7] The viewing figures for Lund's blog put it ahead of local newspapers in Denmark, with more than 40,000 monthly readers.

The LundXY catalyst owned the now defunct free daily newspaper, Nyhedsavisen, in its time the most widely read newspaper in Denmark. Its stated goal was to transform the nature of printed press by merging the offline distribution with an attractive online presence. [8] In January 2008, LundXY acquired a 51 per cent majority stake in Dagsbrun Media, which owns Nyhedsavisen, from Baugur Group, the Icelandic investment firm. As part of the deal, Lund XY injected its own working capital into the newspaper. Lund's acquisition came 15 months after the paper's October 2006 launch, and three months after it officially took the position of most read daily newspaper in Denmark, outpacing established paid-for titles and rival free sheets with a circulation of 550,000. Despite this, finances continued to be an issue and the paper eventually closed in August 2008.

In 2005 Lund was reported to be a special member of Bill Clinton's Clinton Global Initiative,[9] through which LundXY later committed its financial power to development cases around the globe.


Lund has represented the venture capital firm at events worldwide. Here are some events where he made appearances as a speaker:


LundXY's investment vehicle 'WILD,' or Worldwide Investment and Involvement in Life Development, included firms like AquaDania with its WaterStillar system for efficient water purification and Aresa A/S, a company that used genetically modified plants to detect landmines.[14]

The Dane hoped to use LundXY's global influence and economic clout to realise Bill Clinton's vision. On his blog, Lund says he has "an untamed lust to do stuff that makes a difference for the people in this world - especially if I can help to save a child’s life. I want to do it for profit - since that's the only way to attract world class talent."[15]


Other companies that have appeared in the LundXY portfolio:

  • HelloGroup, the fastest growing advertising agency in Scandinavia
  •, free online stock trading.[16]
  • Maxthon, the most popular web browser in China, with 100m downloads to date
  • Polar Rose, award-winning facial recognition software[17]
  • Bullguard, award-winning anti-virus software [18]
  • Wamba, the social movement


Lund was declared bankrupt in January 2009[19] in the aftermath of stalled free newspaper venture Nyhedsavisen, but he announced that he was out of bankruptcy in April 2010.[20] He has since spoken at length to international media about his personal struggle to battle through the business cycle and re-establish his reputation.[21]

LundXY was out of the spotlight during the term of Lund's personal bankruptcy. However, in 2013 he revealed that he was working on a new business network known as OnlyXO, through which he would chair a number of early stage companies, including Capital Aid, Itembase and AirHelp, and several startups that he personally co-founded. The present focus is on financial technology companies that can be integrated with the systems of digital invoicing specialist Tradeshift. Capital Aid is described as "the star project." Additionally, as part of the OnlyXO network, Lund has helped to launch initiatives that match his own needs as a serial entrepreneur, including pitchXO, Tofte & Company and Sharkboard.

His investment in Tradeshift was followed later by online payments service PayPal, which acquired a stake for around €12 to €15 million.[22] In late February 2014, Tradeshift received a further $75m from Singapore’s Scentan Ventures, which the company said it would use to expand its business in Japan and China, where many of its customers have suppliers.[23]

Morten Lund continues to maintain a blog on the LundXY website.


  1. ^ VentureBeat on Morten Lund and early Skype, November, 2007
  2. ^ eBay buys Skype for £2.2bn, The Times, September, 2005
  3. ^ Vodafone announces ZYB acquisition on its website, May, 2008
  4. ^ Reuters on Lund's move into clean energy January, 2008
  5. ^ World Economic Forum Announces Technology Pioneers 2008 Archived 2008-05-06 at the Wayback Machine., February, 2008
  6. ^ TechCrunch confirms ZYB's acquisition of Imity, April, 2008
  7. ^ DLD 2008 survey names tech industry's most influential Archived 2008-05-11 at the Wayback Machine., 2008
  8. ^ Lund interviewed by German business publication, January, 2008
  9. ^ Bill Clinton pictured with LundXY's CEO Morten Lund[permanent dead link], May, 2005
  10. ^ CGI on Annual Meeting, 2007
  11. ^ DLD brings technology thinkers to Munich, January, 2008
  12. ^ LeWeb3 2007, official programme
  13. ^ Thomas Crampton blogs at SIME on Lund's profit generating ventures, 2007
  14. ^ Aresa website
  15. ^ Lund writes about his hopes for WILD on the LundXY blog Archived 2008-04-09 at the Wayback Machine., 2007
  16. ^ GigaOM on LundXY's involvement in Zecco, March, 2008
  17. ^ World Economic Forum commends Polar Rose Archived 2008-05-06 at the Wayback Machine., 2008
  18. ^ Bullguard list of awards given, Bullguard website
  19. ^ Butcher, Mike. "As raw as it gets - Skype legend Morten Lund made bankrupt", Tech Crunch. London, 13 January 2009.
  20. ^ Daell Bjerrum, Vibeke. "Morten Lund ude af gældsfælde",, Berlingske. Copenhagen, 7 April 2010.
  21. ^ Day, Peter (producer). "Entrepreneuring through boom and bust", Global Business, BBC World Service, London, 17 August 2010.
  22. ^ Toft, Dorte. ""Rygte: eBays PayPal investerer 80 mio. i Morten Lund-firmaet Tradeshift""., Berlingske. Copenhagen, 12 October 2010. 
  23. ^ Davies, Sally. "Digital invoicer Tradeshift valued at over $300m in fundraising", The Financial Times. London, 25 February 2014

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