PSV Tech Launch €70 Mn Fund II To Support The Next Tech Giants

The fund will support AI, software, and digital infrastructure startups to help strengthen the Nordic region’s role as a tech leader in Europe.

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PSV Tech’s second fund is backed by major investors like ATP, EIFO, and The Danish Society of Engineers (IDA). ATP and EIFO also supported the first fund. Other investors include well-known tech entrepreneurs such as 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.”

Based at DTU (Technical University of Denmark), PSV Tech benefits from close access to top engineering and tech talent—one of its most valuable resources.

“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 resulted in 47 investments and six exits, including Helloflow and Heyhack—PSV Tech has already committed 65% of their new fund. They've made two investments from it 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 started 25 years ago as a state-funded pre-seed investment program has now evolved into the foundation of 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 keep raising money for Fund II, focusing on investors who share its goal: to help Nordic founders build global tech companies and strengthen Europe’s long-term tech independence.

About PSV Tech

PSV Tech was launched in 2020 under the PSV Venture House to support Nordic founders even before they achieve product-market fit. The fund is led by four General Partners: Helle Uth, Richard Breiter, Alexander Viterbo-Horten, and Christel Piron.