Helsinki-based venture capital firm Nordic Foodtech VC is launching its second fund with a planned capital of €80 million to, aimed at backing research-driven solutions with the potential to transform the food system, Impact Loop reports.
About Nordic Foodtech VC
-
Nordic Foodtech VC is a Finnish venture capital firm, founded in 2020 by Jari Tuovinen, Lauri Reuter, Mika Kukkurainen, and Pekka Siivonen-Uotila. The firm invests in research-based solutions that can contribute to transforming the food system. The fund focuses on early-stage companies across Europe, with a particular focus on the Nordics.
-
Through its fund, Nordic Foodtech VC backs companies that have the potential to create a significantly more sustainable, resilient, healthy, and fair food system – from the soil to the orbit, and from new sources of protein to better ways of consuming food.
The firm has invested in 18 companies via its first fund, including in Chromologics, Solar Foods, Ironic Biotech, NPHarvest, and, most recently, ÄIO.
More on the second fund
Nordic Foodtech VC will launch its second fund in early 2025. The fund aims to raise approximately €80 million, with more investors joining in.
-
Nordic Foodtech VC will continue to invest in early-stage companies but will have the opportunity to increase its ticket size.
-
According to Louise Heiberg, the firm’s Investor Director, the fund will have a broader mandate to invest in companies outside the Nordic region.
"We hope to begin to invest out of the new fund in Q1 and have the full €80 million raised by the end of 2025. After that, the timeline aligns with other funds of this type. We haven’t exited any companies from the first fund yet, which says a lot about how long this type of innovation takes to grow. One needs to be patient," Louise Heiberg shared.
Previously, AIN reported that Nordic Foodtech VC, along with Voima Ventures, 2C Ventures and SmartCap, invested in Estonian biotech ÄIO.
