Nordic Foodtech VC

Profile

Nordic Foodtech VC is a venture capital firm based in Helsinki, Finland, established in 2020. It was co-founded by Mika Kukkurainen, a business strategist with a background in the food industry. The firm comprises a team of five partners including Lauri Reuter, a PhD scientist in biotechnology, Louise Heiberg, a foodtech engineer, Jari Tuovinen, an expert in corporate finance, and Pekka Siivonen-Uotila, who brings operational experience. The firm's focus on foodtech sets it apart, with a commitment to support startups addressing urgent global food transformation issues.

The firm primarily invests in pre-seed and seed stages, focusing on sectors such as alternative proteins, aquaculture, nutrient recycling, and agri-data. Nordic Foodtech VC operates primarily within the Nordic and Baltic regions, but it also co-invests more broadly in Europe. Their initial check size ranges from low hundreds of thousands of euros up to approximately €2 million. Their portfolio includes about 19 companies, and they have €42 million AUM from their first fund, with Fund II targeting €80 million.

Notable portfolio companies include Chromologics - specializing in biomanufacturing and fermentation, Enifer - working in aquaculture, Melt&Marble - in alternative proteins, and Kuva Space - focusing on agri-data and space-enabled agriculture. The firm achieved its first exit through the sale of BioMush, a fermentation-protein company. The firm is renowned for going deep on food-science and manufacturing risks, with an emphasis on impact and ESG reporting.