Helsinki-based Greencode Ventures, a venture capital firm focused on accelerating the green transition, announced on Monday the first close of its new fund.
The VC has raised €40M from various backers, including Business Finland Venture Capital, Nordea Life Assurance Finland, Pohjola Insurance, OP Life Assurance Company, Konstsamfundet Ventures, Kelonia, Stephen Industries, Atavus, Nidoco, Halton Ventures, Ikorni Invest, Tre Smeder, KJL Consulting and other experienced LPs.
The company also says that it has already made its first investment in carbon removal startup Supercritical.
As a female-led and founded VC, Greencode Ventures aims to address the underrepresentation of female founding teams in the VC landscape (only 1 per cent of all VC funding in Europe is raised by women-only founding teams).
Petri Serenius, Investment Director of Business Finland Venture Capital, says, “We are delighted to provide our support for the launch of Greencode’s fund, which will invest in promising early-stage climate tech companies in Finland and Europe. We couldn’t think of a more relevant and impactful investment topic for a venture fund. Greencode boasts experienced personnel capable of creating substantial value for their portfolio companies.”
Greencode Ventures: Specialising in green transition
Founded by industrial transformist Kaisa Hietala and green energy venture capitalists Terhi Vapola and Ines Bergmann-Nolting, Greencode Ventures is a Venture Capital (VC) investor focused on accelerating the green transition.
As the first green transition fund in Finland, the VC specialises in rapidly scaling digital solutions that have a significant impact on decarbonisation efforts.
The VC’s mission is to drive the green transition by investing in early-phase digital-first startups that leverage capital light technologies.
Greencode Ventures operates as a pan-European VC from three greentech hubs in Finland, Germany and Sweden. The VC is anchored by institutional investor Business Finland Venture Capital Ltd, which has made its biggest ever commitment of €25M.
Read the orginal article: https://siliconcanals.com/news/startups/greencode-ventures-first-close-new-fund/
