Nordic Foodtech VC, operating from Helsinki, has landed a commitment of as much as €30 million from the European Investment Fund (EIF) to fuel its second investment vehicle, NFT.VC Fund II. The fund is chasing an €80 million target and has already collected €40 million following its initial closing in April 2025. Management expects to deploy capital across roughly 30 early-stage ventures, with a geographic focus on Northern Europe but openness to deals elsewhere on the continent. The vehicle will concentrate on pre-seed and seed financing rounds for companies—including university and research-backed spin-outs—working on technologies in agriculture, food, health, aquaculture and biosolutions.
The EIF backing, channelled through the InvestEU programme, is designed to help the firm pull in more private capital and edge closer to its fundraising goal. The commitment also aims to accelerate the path to market for innovations meant to strengthen food production's sustainability and climate resilience. According to the EIB Group Vice-President Karl Nehammer, "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. Our investment will help more young companies turn new ideas into businesses that strengthen food security, climate resilience and European competitiveness."
About Nordic Foodtech VC
Established in 2020, Nordic Foodtech VC operates as a specialist venture investor targeting early-stage enterprises in the agrifood sector. The firm's primary geographic focus spans the Nordic and Baltic territories, though it remains active across broader European markets. Its investment thesis covers agriculture, food, alternative proteins, health, aquaculture and biosolutions more broadly, with particular interest in research and university-derived ventures. The firm's debut fund has already backed 18 portfolio companies across its core regions.
Fund Strategy and Support
NFT.VC Fund II will target ventures in their earliest financing phases—pre-seed and seed rounds—with emphasis on university and research centre spin-outs. These companies are developing sustainable technologies spanning agriculture, food, health, aquaculture and the broader biosolutions sector. Nordic Foodtech VC pairs investment capital with scientific and industry knowledge to guide companies through their formative stages.
The EIF commitment draws support from multiple sources: the InvestEU equity product for climate and environmental solutions, funding from the European Maritime, Fisheries and Aquaculture Fund earmarked for blue economy investments, and EIB Risk Capital Resources. The fund intends for most of its portfolio companies to advance climate action and environmental sustainability goals, while also prioritising gender diversity in its backing decisions.
Mika Kukkurainen, co-founder and managing partner at Nordic Foodtech VC, stated: "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. We believe Europe has a unique opportunity and talent to lead in building the future for food and agriculture."
Source: ArcticStartup
