In a significant development for the Nordic startup ecosystem, PSV (formerly known as PreSeed Ventures) has announced the launch of PSV Hafnium, Denmark's first deep tech-focused investment fund. The new fund will focus on supporting early-stage, science-based technology startups throughout the Nordic region, marking a pivotal moment for deep tech innovation in Denmark and beyond.

The €52 million fund, with a hard cap of €80 million, aims to fill a critical gap in the Danish and Nordic venture capital landscape by focusing exclusively on deep tech startups—ventures based on scientific research and engineering breakthroughs. The announcement is particularly noteworthy given the challenging global financial market, yet PSV's confidence in deep tech's potential remains steadfast. According to the firm, this sector holds the key to tackling some of the world's most pressing challenges, from sustainability to technological advancements.

A Long-Awaited Boost for the Nordic Deep Tech Scene

The launch of PSV Hafnium comes after years of planning and strategic alignment, driven by the recognition that the Danish and Nordic ecosystems needed a dedicated fund to address deep tech's unique challenges. Despite the region's robust scientific research capabilities, particularly in Denmark, deep tech startups have historically struggled to bridge the gap between laboratory innovation and market readiness.

According to PSV, the name PSV Hafnium was inspired by the discovery of the element hafnium in Denmark in 1922, a milestone that revolutionized aerospace and electronics. The fund aims to drive similar waves of innovation across various sectors, from quantum computing and artificial intelligence to clean energy solutions and biotechnology.

Marianne Hyltoft, one of PSV Hafnium’s managing partners, remarked, "Just like hafnium’s discovery sparked breakthroughs in critical industries, we envision PSV Hafnium igniting the next generation of technological advancements. Our mission is to transform scientific potential into market-ready solutions that can benefit society on a global scale."

A Strong Team to Lead the Charge

PSV Hafnium is spearheaded by a seasoned team of partners with extensive experience in venture capital, scientific research, and deep tech innovation. The leadership team includes Marianne Hyltoft, Anders Kjær, and Jakob Rybak-Andersen, along with newly appointed partner Maria Emilie Danø Hoffmann. Hoffmann, who recently joined PSV, is described as a valuable addition to the team, bringing her expertise and enthusiasm for supporting deep tech founders.

Anders Kjær, Founder and Managing Partner at PSV Hafnium, emphasized the strategic value of the team. "The strength of PSV Hafnium lies in our team’s deep connections within both the venture capital and scientific communities. We are perfectly positioned to help early-stage founders turn groundbreaking scientific discoveries into commercially viable technologies."

The team’s deep tech expertise is bolstered by PSV’s long-standing partnership with DTU - Technical University of Denmark, which serves as a crucial ally in helping founders navigate the challenging process of scaling their startups from the lab to the market.

Backing from ‘Blue Chip’ Investors

The fund has secured significant backing from high-profile institutional investors, including the European Investment Fund (EIF), Export and Investment Fund of Denmark, and DTU - Technical University of Denmark. This strong financial support underlines the confidence investors have in PSV Hafnium’s strategy to drive deep tech innovation in the region. The presence of these institutional players is seen as a vote of confidence in the long-term potential of deep tech startups.

In addition, the fund is also supported by the PSV Foundry and a group of 45 deep tech investors, creating a broad and powerful coalition of financial resources to fuel the next wave of innovation. The collective goal is to provide early-stage startups with the capital, guidance, and industry connections necessary to overcome the unique hurdles that deep tech companies face.

Filling a Critical Gap in the Ecosystem

The creation of PSV Hafnium addresses a pressing need in the Danish and broader Nordic startup ecosystems. While the region boasts strong talent and groundbreaking scientific research, there has long been a funding gap for deep tech startups, which typically require more time, capital, and specialized support to reach market readiness compared to other types of startups. Deep tech ventures often face longer development cycles, as they work to commercialize complex technologies rooted in years of research and development.

Hyltoft further highlighted the importance of PSV Hafnium in filling this gap, saying, "Our goal is to support founders who are solving complex, global challenges through science and technology. We are not looking for quick returns but are committed to helping these companies navigate the long and often difficult path from idea to market."

Accelerating the Future of Deep Tech Innovation

As PSV Hafnium officially launches, there is excitement within the Nordic startup ecosystem for what this fund could achieve. With a laser focus on science-driven innovation and the backing of some of the region’s most influential investors, PSV Hafnium is poised to accelerate the growth of deep tech startups and, in doing so, unlock new technologies that could have far-reaching societal impacts.

In the words of Alexander Viterbo-Horten, General Partner at PSV Tech01 Fund, “This fund represents an important mission. We are ready to support the next generation of founders in their pursuit of building transformative technologies.”

PSV Hafnium’s launch marks a significant milestone for the Nordic deep tech ecosystem. By providing much-needed capital and expertise, the fund has the potential to drive scientific breakthroughs from lab to market, contributing to advancements in industries such as clean energy, artificial intelligence, and life sciences. With a solid foundation of experienced leadership and strong institutional backing, PSV Hafnium is set to play a pivotal role in shaping the future of deep tech innovation in the Nordics and beyond.

As the fund continues to grow, both the investors and the startups it supports are optimistic about the profound impact PSV Hafnium will have on technological progress and sustainability in the years to come.