PSV Tech01 is live — dedicated to go above and beyond for founders in the pre-seed stage

Adding to the history books of the Danish tech ecosystem

If there ever were to be a book of such kind, the last couple of pages would tell you how the hard-to-overlook potential in the Danish tech ecosystem has steadily manifested itself and continues to do so. Danish startup ecosystem as a whole has matured: We’ve seen more Danish startups create groundbreaking results on an international scale. They’ve been raising rounds bigger in size as well as quantity than ever before. Both 2018 and 2019 turned out to become record-breaking years based on startups attracting VC capital and we have sparked interest from eyes across our borders — eyes that are locked and loaded at all the tech-enabled and purpose-driven geniuses seeing the light of day in our kingdom. International investments have increased from 30% to 60% of total funding rounds. Last but not least success breeds success. The number of serial entrepreneurs has grown, giving new founders strong inspirational role models, and ripple effects of early hires in the now mature, successful tech companies turning founders themselves are spreading rapidly.

This constant and exponential hockey stick effect provides not only the perfect timing for launching a software-focused tech fund in Denmark but also a wave of trends to capitalise on in the years to come.

Committing to set new standards in the Danish VC landscape

We always say that new category winners and founders can come from anywhere. The same goes for venture funds making outsized returns. Yet, we rarely see new (institutional backed) venture funds being borne out of Denmark. The institutional LPs have only made few investments in the early stages, and none specifically, actually a rounding 0, in the pre-seed stage. Therefore, we’re fairly proud that some of the most influential Danish LPs, serial entrepreneurs, and private investors have given their commitment to PSV tech01, with ATP and the Danish Growth Fund having spearheaded our first close even though it didn’t fit into their standard procedures and spreadsheets. With their solid due diligence and support we’ve not only secured 76% of our DKK 350m goal but a solid foundation for the future of PreSeed Ventures. Pension funds have long been criticized for not making commitments in venture capital and supporting the development of the financial food chain. Now, ATP Denmark’s largest pension fund — is taking a firm stand by making its first-ever investment in a venture fund at the pre-seed stage.

New setup, “seasoned eyes”, same big ambitions

While launching PSV Tech01 is news, PreSeed Ventures is no newcomer to early-stage investing. Having lived well over 400 journeys alongside founders venturing into uncertainty, it’s fair to call the pre-seed stage our home turf. Just as much as founders live and breathe their startups, we’ve been living and breathing the pre-seed air since the beginning of the 21st century. We know by heart how to help founders take their companies from pre-revenue to product/market-fit and beyond. And what we know, after venturing with so many startups, is that succeeding in these stages is about much more than metrics and facts. The most fitting way to put it is: “Investing early is about trusting the people, investing late is about trusting the data”.

It’s not rocket science, but while the human factor might be ‘soft’ to some, it is hard-coded into our investment thesis and philosophy.

Knowing the human face of startup

And when we say we’re all about humans, we’re not fooling around. Yes, investing is about deals and returns. But humans are at the essence of making them. As investors, we often talk about people as exceptional or extraordinary about perfect polished pitches, hockey stick curves, and unreal growth statistics. We’re not in any way denying that’s part of it, as the deals and returns are our lifeblood. But with PSV Tech01 we would like to be part of a movement making that image less sugar-coated and more human — one where we’re not afraid of admitting failure and that everything didn’t work out like it was supposed to. God knows it didn’t in our own fundraising and it never does on the startup journey. When whatever hits the fan along the way it’s an advantage for founders in the early days to have an investor team by their side who all together have 65 years of investment experience and who’ve helped founders navigate the mess before. Founders are constantly venturing into uncertainty and traveling untested waters and it’s much more a mind game than a money game. Therefore, we’ve built an operational setup around our fund to support the personal just as much as the professional growth of founders.

With PSV tech01 we want to take pride in not just making it big but making it right and we want to do it with founders who aim to do the same.

Last, but not least, you should roam around our brand-new website. We love to flex it (weird flex, but ok) and not least receive feedback as we’re sure our tired eyes have missed a bug or two.

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PreSeed Ventures

PreSeed Ventures

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Living the pre-seed stage alongside the rare kind of humans that we call founders https://www.preseedventures.dk