Venture firm PSV Tech has closed its second fund at €56 million to expand pre-seed investing across the Nordic region. The firm, which developed out of the Technical University of Denmark (DTU), focuses on backing early-stage technology startups in artificial intelligence, software, and digital infrastructure before they achieve product-market fit.
Expanding Pre-Seed Capital Across the Nordics
Fund II brings in new commitments from institutions such as Chr. Augustinus Fabrikker and Nordea-fonden, alongside returning limited partners ATP, EIFO, and IDA. High-profile individual backers include founders from Templafy, King, and Siteimprove. PSV Tech has already made 19 investments from the new fund across Denmark, Sweden, and Norway, with 11 of those investments completed in 2026.
Building Pre-Product Conviction
Led by General Partners Helle Uth, Alexander Viterbo-Horten, Richard Breiter, and Christel Piron, the fund targets the earliest stages of founder formation. According to Uth, the firm focuses on understanding people, technology, and core problems before financial metrics can provide validation, providing foundational risk capital that feeds the broader European venture ecosystem.
Academic Origins and Portfolio Track Record
PSV Tech operates as part of PSV Venture House, which traces its roots back 25 years to an early-stage investment platform established at DTU. The university itself was founded in 1829 by H.C. Ørsted with a mission to translate academic research into real-world technological progress. PSV Tech's first fund made 47 investments, backing early-stage companies such as Teton and Spektr, both of which later went on to raise $20 million Series A rounds.
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Source: PSV Tech closes its second fund to double down on Nordic pre-seed investing
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