Helsinki-based venture capital firm doubles down on science-driven solutions for a sustainable global food system
Despite tough conditions in the venture capital market, Finnish firm Nordic Foodtech VC has successfully secured €40 million in the first close of its second fund—halfway to its €80 million target. The fund will back early-stage startups developing transformative technologies for agriculture and the food industry.
With institutional backing from investors like Tesi (Finnish Industry Investment) and Elo Mutual Pension Insurance Company, along with food sector stakeholders including Valio Pension Fund and Heino Group, the new fund reinforces Nordic Foodtech VC’s position as a specialist investor in sustainable food system innovation.
“The global food system is outdated and unsustainable,” said Louise Heiberg, Partner at Nordic Foodtech VC. “We’re here to fund the startups turning breakthrough science into real-world impact.”
From Soil to Orbit: A Bold Investment Scope
Founded in 2019, Nordic Foodtech VC was the first dedicated FoodTech fund in the Nordics. Its second fund, launched in 2025, is SFDR Article 8 aligned and builds on the firm’s proven approach. Initial investments will range from several hundred thousand euros to €2 million, with reserves for follow-on funding.
The VC focuses on startups solving critical challenges—ranging from developing new protein sources and functional fats to hyperspectral imaging of farmland from space. Previous investments include Kuva Space, Chromologics, Enifer, and Melt&Marble.
“New technologies are key to sustainable food production,” noted Peter Platan, Investment Director at Tesi. “Nordic Foodtech VC offers much-needed capital to early-stage companies in this sector.”
Betting on Planet-Sized Opportunities
Nordic Foodtech VC is tackling a market where innovation is urgently needed but often underfunded at the earliest stages. The team leverages its deep experience in science commercialization to help research-backed ventures spin out and scale.
“We invest in planet-sized opportunities in bite-sized chunks,” said Lauri Reuter, Partner at Nordic Foodtech VC. “The startups we back are building food systems that work within planetary boundaries—and generate strong returns along the way.”
With the first close of its second fund, Nordic Foodtech VC has now doubled its assets under management. Fundraising continues toward the €80 million final close, with plans to expand its portfolio across the Nordics, Baltics, and beyond.
