Copenhagen-based early-stage investor PSV Tech today announces the launch of Tech Fund II with a target of €70 million, aiming to strengthen the Nordic region’s position as a technological powerhouse in Europe by investing in AI, software, and digital infrastructure startups.
PSV Tech’s second fund is backed by investors such as ATP, EIFO, and The Danish Society of Engineers, IDA. Both ATP and EIFO were cornerstone investors in Fund I. Among the fund’s investors are also tech entrepreneurs: Christian Lund and Henrik Printzlau (Templafy), Sebastian Knutsson (King), Morten and Niels Ebbesen (Siteimprove), and Stig Myken (Hiper).
“To strengthen Europe’s competitiveness, massive investment in tech entrepreneurs is essential,” says Helle Uth, Co-founder and General Partner at PSV Tech. “Investing in technology is no longer just about growth – it’s about Europe’s ability to operate on its own terms. By backing startups in AI, software, and digital infrastructure at the pre-Seed stage, we aim to build a stronger pipeline of startups that can make Europe more self-reliant, more resilient, and better equipped for the future global competition.”
PSV Tech was launched in 2020 as part of the PSV Venture House with a mission to back Nordic Founders even before product/market fit. Behind the fund are four General Partners – Helle Uth, Richard Breiter, Alexander Viterbo-Horten, and Christel Piron.
As part of PSV Venture House, the fund is based at DTU (Technical University of Denmark). This integration gives PSV proprietary access to, what they refer to, one of the most valuable resources: engineering and technical talent.
“As Denmark’s national pension fund, ATP invests to ensure attractive, lifelong guaranteed pensions. With this investment, ATP contributes to developing new Danish companies and jobs – ventures that we hope will become technological frontrunners, driving growth, innovation, and ultimately delivering returns for our members. We have confidence in the PSV team, who has demonstrated their ability to identify and develop tomorrow’s winners. In today’s shifting geopolitical landscape, it’s an added strength that this investment supports the ambition for greater European self-reliance.” added Sabine Calmer Braad, Head of Global Direct Investments at ATP
Just 4.5 years after launching their first fund – which led to 47 investments and six exits, including Helloflow and Heyhack – 65% of their new fund has already been committed, with two investments made so far.
“If we want new technology not just to be invented but commercialised and scaled from Denmark, we need strong partnerships between research and capital,” says Anders Bjarklev, President of DTU. “That’s why we’ve supported PSV Tech since the beginning – it brings capital and mentorship to the kind of companies born at DTU.”
IDA Chairwoman Laura Klitgaard highlights the fund’s unique positioning: “At IDA, we have chosen to invest in PSV Tech because we aim to lead by example when it comes to investing in tech startups. As Denmark’s largest professional community for STEM graduates (Science, Technology, Engineering, Mathematics), we believe PSV Tech is a standout example of a strong alliance between STEM talent, groundbreaking research, and capital. We are confident that, together, we can pave the way for technological solutions to global challenges – both in Denmark and across the Nordics.”
“The level of privilege, safety net and education in the Nordics makes it an ideal launchpad for startups – but too often, we have seen Founders go to the U.S. because that’s where the capital is,” says Sebastian Knutsson, Co-founder of King. “By backing PSV Tech, we hope to support more founders in building global companies from the Nordics.”
What began 25 years ago as a state-funded pre-Seed investment vehicle has laid the foundation for PSV Tech.
“PSV Tech has played a pivotal role in developing Denmark’s early-stage tech landscape,”notes Ida Dahl Hoem, Investment responsible at EIFO. “Following their performance in Fund I, we were confident in doubling down, and we have high expectations for the team’s future performance.”
PSV Tech will continue fundraising for Fund II, targeting investors who share its mission: to support Nordic Founders in building tech companies with global reach, and in doing so, contribute to Europe’s long-term technological sovereignty.
Read the orginal article: https://www.eu-startups.com/2025/05/danish-investor-psv-tech-launches-a-e70-million-fund-ii-to-support-the-next-tech-giants-of-the-nordics/
