European Investment Fund Commits Up to €30 Million to Nordic Foodtech VC Fund II to Accelerate Early-Stage Agrifood Technology Investment Across Europe

European Investment Fund Commits Up to €30 Million to Nordic Foodtech VC Fund II to Accelerate Early-Stage Agrifood Technology Investment Across Europe

(IN BRIEF) The European Investment Fund has committed up to €30 million to Helsinki-based Nordic Foodtech VC’s second fund, NFT.VC Fund II, to increase financing for early-stage agrifood technology companies across Europe, particularly in Northern Europe. The fund is targeting €80 million in total commitments and plans to invest in around 30 pre-seed and seed-stage companies, including university and research-centre spin-outs developing technologies for agriculture, food, health, aquaculture and broader biosolutions. NFT.VC Fund II reached a €40 million first closing in April 2025, while the EIF commitment is expected to help attract further private investors and bring the vehicle close to its target size. Karl Nehammer, EIB Group Vice-President, said Europe has strong food and agriculture research but needs more capital and expertise to move technologies from laboratories to commercial markets. Nordic Foodtech VC co-founder Mika Kukkurainen said the backing will allow the investor to broaden its reach across Northern Europe. Supported by InvestEU, the European Maritime, Fisheries and Aquaculture Fund and EIB Risk Capital Resources, the investment is expected to contribute primarily to climate action, environmental sustainability, food resilience and European competitiveness.

(PRESS RELEASE) LUXEMBOURG, 10-Sep-2026 — /EuropaWire/ — The European Investment Fund (EIF) is committing up to €30 million to Finnish venture capital fund Nordic Foodtech VC Fund II (NFT.VC Fund II), providing fresh investment capacity for early-stage agrifood technology companies across Europe, with a particular focus on Northern Europe.

The commitment, backed by InvestEU and additional European Investment Bank Group resources, is designed to help science-based companies turn agricultural and food research into commercially viable technologies capable of supporting more sustainable and resilient food production.

Helsinki-based Nordic Foodtech VC is targeting an overall fund size of €80 million and plans to invest in approximately 30 companies, primarily in Northern Europe while also pursuing opportunities elsewhere across the continent.

EIF investment brings fund closer to €80 million target

NFT.VC Fund II achieved a first closing of €40 million in April 2025.

The EIF’s commitment of up to €30 million will bring the fund significantly closer to its €80 million target while helping Nordic Foodtech VC attract further private-sector investors.

The EIF, which forms part of the European Investment Bank (EIB) Group, is providing the backing in response to a persistent financing challenge facing science-intensive agrifood companies.

Many young businesses developing new technologies in food and agriculture encounter difficulties raising capital during the earliest phases of development, particularly when scientific discoveries need to progress from laboratory research toward commercial-scale applications.

Fund targets pre-seed and seed-stage companies

NFT.VC Fund II will invest primarily in companies at the pre-seed and seed stages, when founders are developing technologies, validating business models and beginning the transition toward commercialisation.

The investment strategy includes spin-outs from universities and research centres, reflecting the fund’s focus on translating scientific research into companies capable of operating in commercial markets.

Target areas will include technologies serving agriculture, food, health, aquaculture and the broader biosolutions industry.

Nordic Foodtech VC intends to combine investment capital with specialist scientific and industry expertise to help portfolio companies navigate the technically demanding early stages of development.

Investment aims to bridge research-to-market financing gap

Karl Nehammer, EIB Group Vice-President, highlighted the strength of European scientific research in agriculture and food while pointing to the financing and expertise required to commercialise new discoveries.

He said the EIF commitment is intended to help more early-stage companies transform promising ideas into scalable businesses.

According to Nehammer, successfully commercialising these technologies can contribute to stronger food security, climate resilience and European competitiveness.

The investment therefore targets not only financial growth but also the wider economic and environmental value that could be created by successful agrifood innovation.

Nordic Foodtech VC expands across Northern Europe

Nordic Foodtech VC is headquartered in Helsinki, Finland, and specialises in investments at the intersection of food, agriculture, science and technology.

Its second fund is expected to broaden the firm’s investment reach across Northern Europe while maintaining the flexibility to invest in attractive opportunities elsewhere on the continent.

Mika Kukkurainen, co-founder and managing partner of Nordic Foodtech VC, said EIF support will enable the investor to expand its activities across the Northern European market.

He said portfolio companies are developing deep-technology solutions addressing challenges including food security, resilience and nutrition, and argued that Europe has both the research capabilities and talent required to play a leading role in the future of food and agriculture.

First Nordic Foodtech VC fund invested in 18 companies

Nordic Foodtech VC has already established an investment track record through its first fund, which backed 18 companies across the Nordic and Baltic regions.

The new fund is intended to build on that experience while increasing the number and geographical reach of investments.

With a target portfolio of around 30 businesses, NFT.VC Fund II will provide capital at stages where specialist investors can play an important role in validating technologies, strengthening commercial strategies and preparing companies for subsequent financing rounds.

Science-based agrifood companies face early-stage funding challenges

The EIF investment comes against a backdrop of strong research activity across European universities, research institutes and technology companies but comparatively difficult financing conditions for many young science-based businesses.

Agrifood technologies can require lengthy development periods, specialist expertise, regulatory preparation, pilot projects and physical infrastructure before meaningful commercial revenues are generated.

This can make pre-seed and seed-stage financing particularly important.

By supporting a specialist venture capital manager, the EIF aims to increase the availability of risk capital to companies that might otherwise struggle to move beyond the research stage.

InvestEU supports climate and environmental objectives

The EIF commitment is supported through the InvestEU equity product for climate and environmental solutions.

The transaction also draws on financing from the European Maritime, Fisheries and Aquaculture Fund, specifically supporting investment connected with the blue economy, together with EIB Risk Capital Resources.

These different funding sources reflect the fund’s investment scope across terrestrial agriculture, food technologies, aquaculture and other biosolutions.

A majority of NFT.VC Fund II investments are expected to contribute to climate action and environmental sustainability objectives.

Aquaculture and blue-economy technologies among investment targets

The participation of European Maritime, Fisheries and Aquaculture Fund resources gives the initiative a specific connection to innovation within the blue economy.

Potential investments may therefore include technologies intended to improve the sustainability, efficiency or resilience of aquaculture and related food-production systems.

Such companies will sit alongside ventures developing innovations for agriculture, food production, nutrition, health and wider biosolutions.

The broad mandate allows Nordic Foodtech VC to invest across several interconnected parts of the European food system.

Fund will also promote gender diversity

In addition to its climate and environmental objectives, NFT.VC Fund II intends to support gender diversity through its investment activities.

This objective forms part of the wider social and economic impact expected from the fund as it builds its portfolio.

The combination of sustainability objectives, scientific innovation and early-stage venture financing is intended to support both the development of individual businesses and the broader competitiveness of Europe’s agrifood technology ecosystem.

EIF backing designed to mobilise additional private investment

EIF participation can also play a catalytic role by giving other investors additional confidence to commit capital to specialist venture funds.

With Nordic Foodtech VC already having secured €40 million at its first close and the EIF now pledging up to another €30 million, the fund is moving closer to its €80 million fundraising objective.

The additional capital is intended to strengthen its ability to identify and support companies at the point where scientific and technological potential must begin translating into viable products, manufacturing processes and commercial businesses.

Investment supports European food security and competitiveness

The initiative forms part of broader efforts to increase Europe’s capacity to develop and commercialise technologies addressing food production, resource efficiency and resilience.

Agrifood innovation is increasingly connected to wider priorities including climate adaptation, efficient use of natural resources, nutrition, supply-chain resilience and strategic food security.

By helping specialist investors provide capital and expertise to early-stage companies, the EIF and Nordic Foodtech VC aim to create a stronger pathway from European research to scalable commercial businesses.

EIB Group   

The European Investment Bank (EIB) Group is the financing arm of the European Union, owned by the 27 Member States, and one of the largest multilateral development banks in the world. In 2025, the EIB Group signed €100 billion in new financing and advisory services for over 870 high-impact projects under eight core priorities that support EU policy objectives: climate action and the environment, digitalisation and technological innovation, security and defence, territorial cohesion, agriculture and the bioeconomy, social infrastructure, strong global partnerships and the savings and investments union. Beyond long-term loans for large infrastructure, the EIB Group crowds in private investment for high-risk innovative projects and businesses, with a growing role in Europe’s markets for venture debt, venture capital, guarantees and securitisations.

The European Investment Fund (EIF) is the subsidiary of the EIB Group specialised in providing guarantees, securitisation and equity to improve access to finance for small and medium-sized businesses and startups across Europe. Acting as an anchor investor, through its extensive network of partnering banks and investment funds, the EIF mobilises private investment and nurtures the ecosystem of venture capital funds to support innovative European entrepreneurs.

With the support of all 27 EU governments, the EIF has joined forces with institutional investors in a pan-European alliance to mobilise up to €80 billion for investment into innovative companies scaling up to become global leaders. The joint effort will expand the size and scope of the highly successful European Tech Champions Initiative, which has helped create 15 European mega-funds and scale 45 companies, including 12 unicorns, since being established three years ago.

Photos of the EIB Group’s representatives and headquarters, logo files and video B-roll for media use are available here.

InvestEU

The InvestEU programme provides the European Union with long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps crowd in private investment for the European Union’s strategic priorities such as the European Green Deal and the digital transition. InvestEU brings all EU financial instruments previously available for supporting investments within the European Union together under one roof, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is deployed through implementing partners that will invest in projects using the EU budget guarantee of €26.2 billion. The entire budget guarantee will back the investment projects of the implementing partners, increase their risk-bearing capacity and thus mobilise at least €372 billion in additional investment.

Nordic Food Tech VC

Nordic Foodtech VC is the first Nordic venture capital fund focused on practical solutions for the agriculture and food industries. The company manages two funds: a €42 million fund launched in 2020 and a second fund launched in 2025 under Article 8 of the Sustainable Finance Disclosure Regulation (SFDR).

Nordic Foodtech VC invests in pre-seed and seed-stage companies that aim to make a positive impact by solving business-critical challenges, ranging from the farm to space and from new sources of protein to healthier eating habits. Initial investments are up to €2 million, with significant reserves for follow-on investments.

The team is based in Helsinki and Copenhagen and operates across Europe, with a particular focus on research spin-outs in the Nordic and Baltic countries.

Media Contacts:

EIB Press Office
+352 4379 21000

Thomas Eriksson
EIB group media officer
t.eriksson@ext.eib.org
+46 70 974 5948

Louise Heiberg
Nordic Food Tech VC partner
louise@nft.vc

SOURCE: European Investment Fund