Investment: “Nordic Foodtech VC raises €30M”
Nordic Foodtech VC, a Helsinki-based venture capital firm that backs early-stage agrifood deeptech, has received a commitment of up to €30 million from the European Investment Fund (EIF) to support its NFT.VC Fund II. The EIF — part of the European Investment Bank Group — is providing the capital to help scale research and development aimed at more sustainable and resilient food production systems.
The EIF’s pledge follows a first closing of €40 million for the fund in April 2025 and is expected to help attract additional private investors as the vehicle approaches its €80 million target.
Nordic Foodtech VC is led by co-founder and managing partner Mika Kukkurainen and is based in Helsinki. The firm combines specialised investment capital with scientific and industry expertise to support companies in their earliest development stages. NFT.VC Fund II is targeting around 30 early-stage companies, primarily in Northern Europe but also seeking opportunities elsewhere in Europe, and will focus on pre-seed and seed-stage ventures — including university and research centre spin-outs — developing sustainable technologies across agriculture, food, health, aquaculture and the broader biosolutions industry. The firm’s first fund has invested in 18 companies across the Nordic and Baltic regions.
The EIF commitment will be used to bring NFT.VC Fund II closer to its €80 million target, attract more private capital and extend the fund’s reach across Northern Europe, supporting portfolio companies as they move technologies from the laboratory to market.
“While Europe has excellent research in food and agriculture, promising technologies need capital and expertise to make the leap from the laboratory to the market,” said EIB Group Vice-President Karl Nehammer.
“With EIF’s support, we’re growing our reach across all of Northern Europe. Our portfolio companies are building the deep-tech solutions Europe needs for food security, resilience and nutrition,” said Nordic Foodtech VC co-founder and managing partner Mika Kukkurainen.
