PSV Tech, a Copenhagen-based early-stage investor, has launched its second fund, Tech Fund II, aiming to raise €70 million to support startups in AI, software, and digital infrastructure across the Nordic region. The fund is backed by a mix of institutional and private investors, including ATP, EIFO, and The Danish Society of Engineers (IDA). It also features prominent tech entrepreneurs such as Sebastian Knutsson, Niels Ebbe Ebbesen & Morten Ebbesen, Stig Myken, Christian Lund and Henrik Printzlau. With roots in Denmark’s technical university ecosystem and a focus on pre-Seed companies, PSV Tech aims to strengthen Europe’s ability to develop and retain its own tech infrastructure. The new fund follows the firm’s first fund, which led to 47 investments and several exits. About two-thirds of the capital for Fund II is already committed, and two new investments have been made.
PSV Tech focuses on investing in Nordic startups at the pre-Seed and Seed stages, particularly in the areas of AI, software, and digital infrastructure. Founded in 2020 as part of the broader PSV Venture House, the firm is based at the Technical University of Denmark (DTU), giving it close access to technical research, engineering talent, and early innovation. PSV Tech’s mission is to support founders before product-market fit, with a strong emphasis on building companies rooted in deep technical expertise and capable of scaling globally.
“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.”
Led by General Partners Helle Uth, Richard Breiter, Alexander Viterbo-Horten, and Christel Piron, the firm has become an important player in Denmark’s early-stage startup ecosystem. Its first fund resulted in 47 investments and six exits, including companies like Helloflow and Heyhack. PSV Tech’s investor base includes public institutions such as ATP and EIFO, alongside tech entrepreneurs from successful Nordic startups. The launch of Tech Fund II, targeting €70 million, continues the firm’s strategy of strengthening Europe’s technological self-reliance through early and targeted support of high-potential startups.
“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,” adds Sabine Calmer Braad, Head of Global Direct Investments at ATP.
Just a few years after launching its first fund, PSV Tech has become known for bridging academic research with early-stage venture funding. Its location at DTU provides direct access to emerging founders and technical innovations. This model has allowed the firm to spot early potential and nurture companies before they enter mainstream venture pipelines.
“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.”
The involvement of IDA also reflects broader institutional support for early-stage innovation tied to technical education and talent. For IDA, backing PSV Tech is part of a wider strategy to turn Denmark’s STEM capabilities into long-term economic growth.
IDA Chairwoman Laura Klitgaard comments: “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.”
For the tech entrepreneurs investing in the fund, the goal is not just financial return but structural change—keeping talent and companies rooted in the Nordic region rather than drawn away by international capital.
“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,” states Sebastian Knutsson, Co-founder of King. “By backing PSV Tech, we hope to support more founders in building global companies from the Nordics.”
The fund also reflects a continued belief in PSV Tech’s model from early backers like EIFO, who are increasing their commitment based on past performance and a shared outlook for the region’s tech potential.
“PSV Tech has played a pivotal role in developing Denmark’s early-stage tech landscape,” says 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.”
Click here to read more VC news.
Read the orginal article: https://arcticstartup.com/psv-tech-launches-a-e70-million-fund-ii/
