The European Investment Fund (EIF) is committing up to €30 million to a Finnish venture capital fund that promotes early-stage agrifood technology companies.
The EIF backing for the Finnish fund – called Nordic Foodtech VC (NFT.VC Fund II) – will bolster research in a more sustainable and resilient food production system. Helsinki-based Nordic Foodtech VC has a target size of €80 million and plans to invest in around 30 companies mainly in Northern Europe. It will also pursue opportunities elsewhere in Europe.
The firm combines specialised investment capital with scientific and industry expertise to support companies in their earliest development stages.
Specifically NFT.VC Fund II will focus on early-stage ventures at pre-seed and seed stages of financing – including spin-outs from universities and research centres – that are developing sustainable technologies for agriculture, food, health, aquaculture and the broader biosolutions industry.
The company’s first fund has invested in 18 companies across the Nordic and Baltic regions. The fund reached a first closing of €40 million in April 2025, and the EIF's pledge, as part of the European Investment Bank (EIB) Group, will help attract more private investors and bring it very close to the target size.
“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.
“Our investment will help more young companies turn new ideas into businesses that strengthen food security, climate resilience and European competitiveness.”
“With EIF's support, we're growing our reach across all of Northern Europe”, said Nordic Foodtech VC's co-founder and managing partner Mika Kukkurainen.
“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”.
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