PSV Tech, a Copenhagen-based venture house, has announced the final close of its second fund at €56 million (approximately $60.5 million). The fund will continue the firm’s mission to invest in early-stage Nordic startups, particularly those operating in artificial intelligence, software, and digital infrastructure sectors.
Founded in 2020, PSV Tech operates as a venture house model, providing capital alongside strategic support to founders at the critical pre-product/market-fit stage. The newly closed fund brings together a diverse mix of limited partners, including institutional investors and experienced Nordic entrepreneurs who have built successful companies themselves.
Backing from established Nordic names
The fund’s investor base reflects confidence from both institutional and individual backers. Joining existing investors ATP and EIFO are new limited partners Chr. Augustinus Fabrikker and Nordea‑fonden, signaling strong institutional backing from Denmark’s investment community. The fund has also attracted backing from several Nordic founders who have achieved significant exits, including Christian Lund and Henrik Printzlau, co-founders of workplace collaboration platform Templafy; Sebastian Knutsson, co-founder of mobile gaming giant King; and Niels Ebbesen and Morten Ebbesen, co-founders of digital experience platform Siteimprove.
The investment group is led by PSV Tech’s partners Helle Uth, Richard Breiter, Alexander Viterbo‑Horten, and Christel Piron, who bring their own track records in identifying and nurturing early-stage talent.
Early-stage focus and team assessment
PSV Tech’s investment thesis centers on supporting founders when traditional metrics remain elusive. As Helle Uth explained, the firm’s evaluation approach differs significantly from later-stage investment stages: “You don’t necessarily have the product or traction to evaluate, so the main parameter we can assess is the team.”
This focus on founder quality over existing traction reflects a strategic choice to enter companies’ development journeys earlier than most venture firms. The investment will enable PSV Tech to provide capital and mentorship to help Nordic founders refine their products and validate their market assumptions before pursuing Series A or larger growth rounds.
The fund’s deployment strategy targets the Nordic region more broadly, though Denmark remains the firm’s home base. By investing before product-market fit is achieved, PSV Tech positions itself as a bridge between pre-seed or seed stage investments and traditional venture capital rounds.
Regional momentum
The successful close of PSV Tech’s second fund underscores sustained investor confidence in the Nordic startup ecosystem. While the region has produced globally recognized exits and continues to attract venture capital, early-stage funding remains critical infrastructure for supporting founders during their formative years. This fund deployment demonstrates that established Nordic entrepreneurs and institutional investors continue to back the next generation of founders, reinforcing the region’s reputation as a talent-producing market within Europe.