PSV Tech closes €56M Fund II to back Nordic startups before product-market fit
Today, PSV Tech announced the final close of Fund II at €56 million. Twenty-five years ago, an investment organisation took shape in the halls of the Technical University of Denmark (DTU) with a simpl...
In a move to support Nordic startups before they reach product-market fit, venture house PSV Tech has closed its second fund, Fund II, with a €56 million investment. Founded 25 years ago at the Technical University of Denmark (DTU), PSV Tech has made nearly 500 early-stage investments, and its latest fund aims to expand its focus across the Nordics in AI, software, and digital infrastructure.
Led by General Partners Helle Uth, Richard Breiter, Alexander Viterbo-Horten, and Christel Piron, PSV Tech focuses on backing the team behind the startup, as market evidence at this stage is often limited. Partner Uth emphasizes the importance of recognizing a great founding team, as technology can change quickly. The fund is now investing across Denmark, Sweden, and Norway, building upon its experience in backing pre-product-market-fit startups.
PSV Tech's adaptability and ability to understand when a company needs to reach specific milestones for growth capital are key aspects of its investment strategy. As AI continues to transform early-stage companies, the fund looks for those capable of leveraging powerful AI models effectively. The team at PSV Tech is particularly interested in companies that can build the best go-to-market model, reach customers effectively, and become part of their everyday workflow.
With PSV Tech's first fund making 47 investments and six exits, the fund now aims to be the best at being early across the hundreds of pre-seed investments made. New investors, including Chr. Augustinus Fabrikker and Nordea-fonden, have joined Fund II to provide long-term Danish capital.
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