Copenhagen-based early-stage investor PSV Tech in the present day pronounces the launch of Tech Fund II with a goal of €70 million, aiming to strengthen the Nordic area’s place as a technological powerhouse in Europe by investing in AI, software program, and digital infrastructure startups.
PSV Tech’s second fund is backed by buyers akin to ATP, EIFO, and The Danish Society of Engineers, IDA. Each ATP and EIFO have been cornerstone buyers in Fund I. Among the many fund’s buyers are additionally 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, huge funding in tech entrepreneurs is important,” says Helle Uth, Co-founder and Common Associate at PSV Tech. “Investing in expertise is now not nearly development – it’s about Europe’s capability to function by itself phrases. By backing startups in AI, software program, and digital infrastructure on the pre-Seed stage, we goal to construct a stronger pipeline of startups that may make Europe extra self-reliant, extra resilient, and higher geared up for the long run international competitors.”
PSV Tech was launched in 2020 as a part of the PSV Enterprise Home with a mission to again Nordic Founders even earlier than product/market match. Behind the fund are 4 Common Companions – Helle Uth, Richard Breiter, Alexander Viterbo-Horten, and Christel Piron.
As a part of PSV Enterprise Home, the fund is predicated at DTU (Technical College of Denmark). This integration offers PSV proprietary entry to, what they check with, one of the crucial helpful sources: engineering and technical expertise.
“As Denmark’s nationwide pension fund, ATP invests to make sure engaging, lifelong assured pensions. With this funding, ATP contributes to growing new Danish corporations and jobs – ventures that we hope will change into technological frontrunners, driving development, innovation, and in the end delivering returns for our members. We’ve confidence within the PSV crew, who has demonstrated their capability to establish and develop tomorrow’s winners. In in the present day’s shifting geopolitical panorama, it’s an added energy that this funding helps the ambition for better European self-reliance.” added Sabine Calmer Braad, Head of International Direct Investments at ATP
Simply 4.5 years after launching their first fund – which led to 47 investments and 6 exits, together with Helloflow and Heyhack – 65% of their new fund has already been dedicated, with two investments made to date.
“If we wish new expertise not simply to be invented however commercialised and scaled from Denmark, we’d like robust partnerships between analysis and capital,” says Anders Bjarklev, President of DTU. “That’s why we’ve supported PSV Tech because the starting – it brings capital and mentorship to the sort of corporations born at DTU.”
IDA Chairwoman Laura Klitgaard highlights the fund’s distinctive positioning: “At IDA, we now have chosen to put money into PSV Tech as a result of we goal to steer by instance on the subject of investing in tech startups. As Denmark’s largest skilled group for STEM graduates (Science, Know-how, Engineering, Arithmetic), we consider PSV Tech is a standout instance of a powerful alliance between STEM expertise, groundbreaking analysis, and capital. We’re assured that, collectively, we are able to pave the best way for technological options to international challenges – each in Denmark and throughout the Nordics.”
“The extent of privilege, security web and training within the Nordics makes it a great launchpad for startups – however too typically, we now have seen Founders go to the U.S. as a result of that’s the place the capital is,” says Sebastian Knutsson, Co-founder of King. “By backing PSV Tech, we hope to assist extra founders in constructing international corporations from the Nordics.”
What started 25 years in the past as a state-funded pre-Seed funding automobile has laid the muse for PSV Tech.
“PSV Tech has performed a pivotal position in growing Denmark’s early-stage tech panorama,”notes Ida Dahl Hoem, Funding accountable at EIFO. “Following their efficiency in Fund I, we have been assured in doubling down, and we now have excessive expectations for the crew’s future efficiency.”
PSV Tech will proceed fundraising for Fund II, focusing on buyers who share its mission: to assist Nordic Founders in constructing tech corporations with international attain, and in doing so, contribute to Europe’s long-term technological sovereignty.
