Helsinki-based early-stage venture capital firm Nordic Foodtech VC has announced the first close of its second fund, securing €40 million toward a total target of €80 million.
- Founded in 2019, Nordic Foodtech VC manages two funds, a €42 million fund launched in 2020 and a second SFDR Article 8-aligned fund launched in 2025.
- Nordic Foodtech VC’s first fund invested in 18 startups from the Nordics and Baltics, including Enifer, Kuva Space, Chromologics, Evodia, ÄIO, Melt&Marble, and Ironic Biotech. These companies tackle key challenges like making affordable protein, fats, and natural food ingredients, turning waste into fertilizers, and using satellite imaging to monitor the environment.
- The firm supports pre-seed and seed-stage startups tackling key challenges in the food system, with initial investments ranging from a few hundred thousand euros to €2 million and additional funding reserved for follow-ups.
- It also plans to back spinouts from universities and research institutes with early-stage risk capital.
“The fundamental need for solutions in the food system hasn’t changed. We invest in companies solving real industry problems, often straight out of the lab where early-stage capital is still hard to find,” Partner and founder at Nordic Foodtech VC, Mika Kukkurainen, commented.
- Nordic Foodtech VC Fund II saw support from institutional investors such as Tesi and Elo Mutual Pension Insurance Company, as well as food industry stakeholders like Valio Pension Fund and Heino Group.
“ Nordic Foodtech VC is a unique player in the FoodTech sector in the Nordics with excellent prospects for growth. The team has strong expertise both in research, and in the commercialisation of innovations. Nordic Foodtech VC is therefore an excellent source of venture capital for early FoodTech companies, also in Finland,” Investment Director at Tesi’s Fund Investments team, Peter Platan, stated.
