PSV is a Copenhagen-based venture capital fund backing Nordic founders before product-market fit. Part of PSV Venture House, a firm tracing its roots to 2000 and the Technical University of Denmark (DTU), PSV Tech invests across Denmark, Sweden, and Norway with a thesis centered on team strength rather than a fixed sector mandate, spanning AI, software, and digital infrastructure.
PSV backs Nordic founders, primarily in Denmark, Sweden, and Norway, at the earliest stage, including companies that have not yet reached product-market fit.
The fund evaluates opportunities mainly on the strength and adaptability of the founding team rather than a fixed sector thesis, with a practical focus on AI, software, and digital infrastructure.
PSV looks for complementary founding teams capable of adapting their product or customer focus when original assumptions prove wrong, and has observed a growing number of startups emerging from research environments with proprietary technology and IP.
PSV closed Fund II at $62.8 million in October 2026. The fund has made 19 investments since its first close, including 11 unannounced deals in 2026.
PSV's first fund made 47 investments and recorded six exits.
Limited partners in Fund II include ATP, EIFO, and IDA, with Chr. Augustinus Fabrikker and Nordea-fonden joining as new backers.
The fund also counts individual founder-investors among its LPs, including Templafy founders Christian Lund and Henrik Printzlau, King co-founder Sebastian Knutsson, and Siteimprove founders Morten and Niels Ebbesen.
Leadership
PSV is led by four Co-founders and General Partners: Helle Uth, Richard Breiter, Alexander Viterbo-Horten, and Christel Piron.
Christel Piron also serves as CEO of PSV Foundry, the firm's company-building studio.
Investment Strategy
PSV invests at the earliest stage, often before a company has reached product-market fit, writing checks of roughly $112,000 to $1.68 million.
The firm prepares portfolio companies for subsequent growth-capital raises and leans on its integration with PSV Venture House's broader platform, including DTU-linked engineering talent and company-building resources, for post-investment support.
Notable Investments
Notable Exits
Other
PSV operates as part of PSV Venture House (formerly PreSeed Ventures), a Copenhagen firm with roots dating to 2000 and deep ties to the Technical University of Denmark (DTU).
PSV Venture House also operates PSV Hafnium, a sibling fund dedicated to deeptech university spinouts, and PSV Foundry, a company-building studio.
Helle Uth, Co-founder and General Partner
hu@psv.xyz
Richard Breiter, Co-founder and General Partner
rb@psv.xyz
Alexander Viterbo-Horten, Co-founder and General Partner
ah@preseedventures.dk
Christel Piron, Co-founder and General Partner
cp@psv.xyz
Maria Dano, Managing Partner
mho@psv.xyz
Marianne Hyltoft, Founder and Managing Partner
mhy@psv.xyz
Anders Kjaer, Founder and Managing Partner
ak@preseedventures.dk
Sebastian Wegmann, Principal
sw@psv.xyz
Christian Dalsgaard, Investment Manager
cd@psv.xyz
Denmark
