In a recent interview with Danish business publication KapitalWatch, CEO and co-owner Christian Risom shared his view that the software world changed more in February 2026 than in the preceding 40 years. It is a conviction that sits at the heart of Upright's decision to shift strategic focus, as the latest generation of AI models marks what Risom sees as a genuine inflection point for the industry.
According to Risom, the rapid evolution of AI capabilities in early 2026 has made it possible to automate business processes in ways that previously demanded extensive, bespoke software development. The implications are profound, both for the companies Upright backs and for the investment landscape as a whole.
If you have repetitive processes of any kind that you want to automate, we can now inject intelligence into them
All hands on deck
The conviction runs deep enough that Upright's partners have stepped directly into the operational work. The firm has intensified its efforts within portfolio company Framna, where a new initiative called Banzai by Framna is developing agent-based AI systems capable of automating a wide range of enterprise workflows. These systems allow artificial intelligence to handle tasks that traditionally required human processing of documents, data, and complex procedures.
"If you have repetitive processes of any kind that you want to automate, we can now inject intelligence into them," Risom explains.
The commitment extends to Risom himself, who has taken on an operational role within the Banzai initiative. Framna is co-owned by Upright Capital and Dutch private equity firm Waterland, among others.
Old Frameworks, new reality
The pace of AI development is making the future considerably harder to predict for software investors, Risom notes. Many of the traditional models used to evaluate and value software businesses may no longer apply in a world where AI can replicate functionality that once took years and large teams to build.
This uncertainty cuts both ways. While it creates risk, it also opens extraordinary opportunities for those willing to move quickly and commit resources to the transition.
Portfolio update
Upright Capital currently holds stakes in a number of technology companies, including Framna, Golittle, and Farmbackup. Most portfolio companies continue to execute on their plans, though the nature of growth-stage investing means there is always work to be done.
In 2025, Upright added two new companies to the portfolio through investments in Northstake and SES Family, both of which Risom describes as strong collaborations showing meaningful progress.
Financially, Upright turned a corner in 2025, posting a modest profit of DKK 0.43 million after a loss of DKK 3.30 million the prior year. The balance sheet stood at DKK 210.85 million, with equity at DKK 209.44 million following a buyback of own shares.
Looking ahead
With the scale of disruption now unfolding in the software sector, Risom sees little point in trying to forecast the year ahead using conventional benchmarks. The firm entered 2026 with a plan to build on its 2025 momentum. Then the AI shift arrived, and Upright chose to throw its full weight behind that transformation within its own portfolio.
For a firm built around helping technology companies mature and scale, the message is clear: the future of software has arrived faster than anyone anticipated, and Upright Capital intends to be at the centre of it.
