PSV Tech closes €55M Fund II to back Nordic startups

PSV Tech has closed its €55 million Fund II to invest in early-stage startups across the Nordic region. The fund focuses on companies working in artificial intelligence, software, and digital infrastructure, often backing them before they reach product-market fit.

Led by partner Uth, the firm observes that Stockholm serves as a model for how successful founders, operators, universities, and capital can reinforce each other, a dynamic that Denmark is now starting to show as well. Uth notes that modern startups are achieving more with smaller teams rather than rapidly building massive headcounts.

Beyond companies utilizing existing artificial intelligence models, the fund is seeing new ventures emerge directly from research environments with a focus on deep technology and intellectual property. Because these investments happen at such an early stage, the firm often has to make decisions with very little existing market evidence.