Nordic Foodtech VC has announced the first close of its second fund at €40 million, targeting a final close of €80 million.
The Helsinki-based firm continues its mission to transform the global food system by investing in early-stage startups across the Nordics and Baltics that are developing sustainable, resource-efficient technologies for food and agriculture.
Partnering with academia and industry
The fund maintains its unique model of closely collaborating with universities and research institutions to turn scientific breakthroughs into commercial ventures. Backers include institutional investors like Tesi and Elo Mutual Pension Insurance Company, alongside food industry stakeholders such as Valio Pension Fund and Heino Group.
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A proven track record
Nordic Foodtech VC’s first fund supported 18 startups, including Enifer, Melt&Marble, ÄIO, Kuva Space, and Chromologics. These companies tackle major industry challenges—from alternative proteins and functional fats to natural food additives and agri-waste recycling.
Meeting global food challenges
“The food system is broken, and fixing it is both an environmental and economic imperative,” said partner Louise Heiberg. “We’re here to back the startups that can turn deep science into scalable impact and solid returns.”
Despite a broader VC downturn, the firm remains bullish on food tech’s potential, especially as demand for food security, better nutrition, and sustainability accelerates.
Investing with purpose and precision
With a focus on seed and pre-seed rounds, the fund will invest up to €2 million per company, while also reserving capital for follow-on funding. Nordic Foodtech VC plans to co-invest across Europe while continuing to lead rounds in its home region.
“We invest in planet-sized opportunities in bite-sized chunks,” said Lauri Reuter, Partner at Nordic Foodtech VC. “We’re committed to building a food system that stays within planetary boundaries—and generates strong returns along the way.”
