Nordic Foodtech VC, a venture capital firm based in Helsinki and Copenhagen, has secured €40 million in the first close of its second fund, targeting a final size of €80 million. The fund is focused on early-stage investments in deeptech startups developing technologies for the food and agriculture sectors, particularly those addressing resource efficiency, sustainability, and system resilience. The second fund continues the firm's strategy of collaborating with more than 22 universities and research institutions, especially in the Nordics and Baltics, to bridge the gap between scientific research and commercial application. Institutional investors such as Tesi and Elo Mutual Pension Insurance Company, as well as food industry stakeholders like Valio Pension Fund and Heino Group, are among the backers. Louise Heiberg is a partner at Nordic Foodtech VC. Nordic Foodtech VC typically invests in pre-seed and seed-stage companies, with ticket sizes up to €2 million and reserves for significant follow-on funding. Its first fund, launched in 2020 at €42 million, invested in 18 companies, including Enifer, Kuva Space, Chromologics, Evodia, Melt&Marble, Ironic Biotech, and ÄIO. These portfolio companies address challenges such as affordable protein ingredients, functional fats, natural food colors, nutrient recycling, and satellite-based environmental monitoring. The portfolio companies have collectively diverted 740,000 tonnes of CO2e annually. Despite a 30% decline in European foodtech investments in 2024, Nordic Foodtech VC is proceeding with its targeted fundraising and investment strategy, aiming to support startups that can scale globally and address critical food system challenges.