Nordic Foodtech VC, an early-stage investor in startups growing new meals and agriculture applied sciences, has introduced the primary closing of its second fund at €40 million.
The fund is backed by institutional buyers resembling Tesi and Elo Mutual Pension Insurance coverage Firm, in addition to meals business stakeholders resembling Valio Pension Fund and Heino Group. The primary closing doubles Nordic Foodtech VC’s complete capital managed, and fundraising will proceed towards the €80 million goal for last closing.
By working with universities and analysis establishments, which regularly have restricted entry to early-stage danger capital, Nordic Foodtech VC goals to bridge the hole between scientific discovery and concrete industrial purposes. The fund works to search out the very best concepts, groups, and applied sciences which have potential for world scaling, and can proceed to steer early seed and pre-seed rounds within the Nordics and Baltics.
Moreover, the fund will co-invest in the remainder of Europe, with ticket sizes starting from a couple of hundred thousand euros as much as €2 million. Moreover, it should maintain a reserve for important follow-on investments.
“Actual-world meals system impression”
Nordic Foodtech VC’s first fund efficiently invested in 18 corporations from the Nordics and Baltics, together with Enifer and Kuva House from Finland, Chromologics and Evodia from Denmark, Melt&Marble and Ironic Biotech from Sweden, and ÄIO from Estonia.
These corporations are all working to create a wholesome, resource-efficient, and resilient meals system. Their targets embody producing sustainable meals elements, capturing vitamins from wastewaters, recycling waste streams into fertilizers, and offering insights from fields and the atmosphere with hyperspectral imaging from Earth’s orbit.
“With the ability to elevate funds within the present complicated market is just not a simple feat,” mentioned Louise Heiberg, Companion at Nordic Foodtech VC. “Nevertheless, it’s clear to us and our buyers that the present world meals system is basically inefficient and never satisfactory to fulfill the wants of the planet or its individuals.
“As a specialist investor, we’re right here to again the startups turning breakthrough science and options into real-world meals system impression and strong returns. Meals safety, well being and vitamin, and sustainable meals programs can be catalysts for this sector.”
