PSV Tech closes €55M Fund II to back Nordic startups before product-market fit

Today, PSV Tech announced the final close of Fund II at €55 million. Twenty-five years ago, an investment organisation took shape in the halls of the Technical University of Denmark (DTU) with a simple idea: more of the technology and talent coming out of Denmark needed someone willing to back it early. Close to 500 early-stage investments later, that idea remains at the heart of what is today venture house PSV. PSV Tech was launched in 2020 as part of PSV Venture House, with a mission to back Nordic founders before product-market fit. The fund is led by General Partners Helle Uth, Richard Breiter, Alexander Viterbo-Horten, and Christel Piron. I spoke to Partner Helle Uth to find out more. Investing before product-market fit Fund II builds on PSV Tech’s experience backing startups before product-market fit, while expanding its focus across the Nordics in AI, software, and digital infrastructure. At such an early stage, Uth says there is often little market evidence on which to jud