Helsinki-based Nordic Foodtech VC, an early-stage investor based in the Nordics, has announced the first closing of its second fund at €40 million, with the final target size for the fund being €80 million.
This second fund is backed by institutional investors such as Tesi and Elo Mutual Pension Insurance Company, and by food industry stakeholders such as Valio Pension Fund and Heino Group.
“Being able to raise funds in the current complex market is not an easy feat. However, it’s clear to us and our investors that the current global food system is largely inefficient and not adequate to meet the needs of the planet or its people. As a specialist investor, we’re here to back the startups turning breakthrough science and solutions into real-world food system impact and solid returns. Food security, health and nutrition, and sustainable food systems will be catalysts for this sector,” says Louise Heiberg, Partner at Nordic Foodtech VC.
Founded in 2019, Nordic Foodtech VC is reportedly the first Nordic VC fund focused on tangible solutions for agriculture and the food industry. The firm manages two funds, a €42 million fund launched in 2020 and a second, SFDR article 8 aligned fund, launched in 2025.
They invest in pre-Seed and Seed-stage companies creating positive impact by solving business-critical problems from “the soil to the orbit and from new sources of protein to better ways of eating“. The initial tickets range from a few hundred thousand euros up to €2 million, with a reserve for follow-ons.
“New technologies contribute significantly to sustainable food production. 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,” explains Peter Platan, Investment Director in Tesi’s Fund Investments team.
Nordic Foodtech VC’s first fund successfully invested in 18 companies from the Nordics and Baltics, including Enifer, Kuva Space, Chromologics, Evodia, ÄIO, Melt&Marble, and Ironic Biotech. Their portfolio looks to tackle significant industry challenges by producing affordable protein ingredients, functional fats and oils, natural food colors and aroma compounds, capturing nutrients from wastewaters and recycling waste streams into fertilisers, and by providing insights from fields and the environment with hyperspectral imaging from Earth’s orbit.
Despite the downturn in VC investments that has affected the food sector as well, the fund believes that the fundamental need for solutions in the food system has not changed.
Nordic Foodtech VC’s strategy has been to invest in companies that solve business-critical problems for and together with the industry. With universities and research institutes having limited access to options for early-stage risk capital, Nordic Foodtech VC plays an important role in helping companies to spin out successfully.
“We invest in planet-sized business opportunities in bite-sized chunks. With our whole team’s experience and expertise in investing in this sector, we are able to spot early on the startups that are solving tangible enough problems to generate good returns within a fund cycle. We are excited to continue supporting both existing and new portfolio companies in their growth paths that all together build towards a food system that fits in the planetary boundaries,” concludes Lauri Reuter, Partner at Nordic Foodtech VC.
With the first closing of the second fund at €40 million, Nordic Foodtech VC doubles its total capital managed. The fundraising will continue towards the €80 million target for final closing.
Read the orginal article: https://www.eu-startups.com/2025/06/finnish-nordic-foodtech-vc-hits-e40-million-first-close-on-e80-million-fund-to-invest-in-tech-for-food-and-agriculture-industries/