Nordic deeptech faces a funding gap between university labs and commercial viability, particularly in quantum computing, clean energy, and science-based AI, where early-stage capital is scarce despite robust research from institutions such as DTU.
PSV Hafnium addresses this by leading investments of € 100k- € 1 m in 25 science-rooted spinouts, reserving two-thirds of capital for follow-on investments during commercialisation. It has already deployed into nine portfolio companies.
The fund, launched in 2024 with an initial €55m close and capped at €80m, achieved a €60m final close through oversubscription from anchors such as the European Investment Fund (EIF), EIFO, PSV Foundry, Nordea-fonden, and the Danish Society of Engineers, alongside 40 deeptech LPs.
Ethical returns through Nordic strengths in patient innovation
Founding partners Marianne Hyltoft, Anders Kjær, and Jakob Rybak-Andersen draw from PSV’s 20-year legacy at DTU, Denmark’s top technical university. They launched Hafnium three years ago to empower hardtech founders transforming patented lab breakthroughs into solutions for global challenges in health and climate.
PSV Hafnium invests in “hard” deeptech like clean tech, health tech, and industrial innovations with strong patents, emphasising hardware-software hybrids such as quantum AI and energy systems from technical universities, rather than pure AI software plays.
The fund is also featured in DTU’s top-10 global innovation ranking for direct access to scalable, proof-of-science tech. Its LP networks provide specialised board expertise, and it has also focused on post-proof-of-science commercialisation, without chasing pre-product hype.
This sets it apart from generalist VCs like Northzone or Seedcamp, and specialised peers like Superangel or High-Tech Gründerfonds, by prioritising university spinouts with proprietary IP over broader digital startups.
What’s next?
The fund plans to back 25+ spinouts at Series A, leveraging DTU’s ecosystem to accelerate growth and deliver outsized returns in climate and health solutions.
With nine investments underway, PSV Hafnium eyes €80m cap expansion if demand persists, aiming for unicorn-level exits by 2030 while mentoring founders to rival Silicon Valley dominance
