The Niels Juel Monument was a gift from a committee in connection with the 200 years' anniversary of the Battle of Køge Bay on 1–2 July 1677. Niel Juel successfully led the Danish fleet through the battle against a larger Swedish fleet. The project received economic support from Det Eibeschützske Legat til Stadens Forskjønnelse and Niels Brocks Legat til Stadens almindelige Bedste.