PSV Tech Closes €56 Million Fund II for Nordic AI and Software Startups

PSV Tech, a Copenhagen-based venture-capital firm, has completed the final close of its Fund II at €56 million. The fund targets early-stage technology startups across Denmark, Sweden, Norway and other Nordic markets.

The investors in the fund include Chr. Augustinus Fabrikker, Nordea-fonden, ATP, EIFO and several technology entrepreneurs. The mix covers established Danish institutional and foundation capital, a state-backed investment fund and individual founders from the tech sector.

Fund II concentrates on AI, enterprise software, digital infrastructure and research-driven technologies. It frequently invests before companies have reached product-market fit, meaning it backs startups at a very early point in their development.

The article also gives figures for a separate investor whose name is cut off in the text available. That investor has backed 437 companies in 44 markets, including 83 businesses valued at $1 billion or more. Its portfolio includes ElevenLabs, Replit, Flutterwave and Checkout.com. About 90 percent of its investments are outside the United States, and Europe has become its fastest-growing market. The excerpt does not make clear how this investor relates to PSV Tech, and part of the text about PSV Tech's own activity so far is also missing.

The close adds dedicated early-stage capital for AI and software startups in the Nordic region, backed by a combination of local institutions and entrepreneurs.