Nordic FoodTech VC

Nordic FoodTech invests, as the name implies, in food-related technology. Not brands, not production, but for example new production and packaging technologies.

Focusing more on B2B and B2G. B2C is possible, if the business model is practical to scale.

Open Circle Capital

Open Circle is based in Lithuania and they have partners in Finland and Denmark. Most of their investments are in Lithuania, but they can invest anywhere in the European Economic Area.

Their ideal case is to co-invest or lead a round into a software company. This is the 3/5 year of their investment period and they look forward to making a couple more new investments. They’re stake size agnostic.

Their usual minimum ticket is 100ke. In exceptional cases they have done 50ke, and in very exceptional cases can consider even smaller tickets.

They prefer applying startups to contact the partner whose experience best matches their area.

Grid.vc

Grid.vc invests into early-stage energy companies.

They’re often the first fund investor of a company and the only one on a round with angels and other non-institutional investors, leading the round. On later rounds they often co-invest with other funds.

They have a global mandate, but focus on investing into companies in the New Nordics and Germany.

Norrsken VC

Impact fund. Focuses on continental Nordics: Finland, Sweden, Norway, Denmark, with some emphasis also on Baltics. Prefers co-investing outside Sweden, but has also led rounds outside their home market.

Invests €0.5-1M on early stage companies. They exceptionally invest up to €2M initial tickets on later stage companies. Looking for a 5-10x return.

SijoittajaPRO

Open family office: network of family offices and angels. They do financial investments and prefer co-investing alongside existing investors.

They invest in solutions that customers like and have demand for. Solution doesn’t need to be technological, but it can be if lead investor has done technological due diligence.

Also offer loans for companies with any business types, including B2C.

They’ve invested €41M in four years.

Fiil Good

Impact investment fund by a group of angels. FIIL = Finnish Impact Investment Limited (Vaikuttavuussijoitus in Finnish). Investments have to fulfill UN SDG (sustainable development goals) criteria.

All members are active angel investors, who see themselves more as co-founders than just financial investors.

Prefer companies with traction and product-market fit (or very close). Occasionally also do pre-revenue investments.

MVP with traction (seed): €50k-200k, rounds €50k-€400k. Valuations below €2M.

Pre-seed (idea testing stage) €5k-20k, rounds max. €50k.

When lead investing, they take board chairperson position. When co-investing, prefer board membership.

 

Innovestor

Innovestor offers co-investing (syndicate forming) as a service. They also do solo investments.

Prefer B2B, but open to any business types. Drug development is not currently interesting for them, but digital health and medical technology is.

Funding applications can be filled at https://innovestorgroup.com/growth-companies/#applyfunding.

Trind Ventures

€23M fund focusing on software technology in Finland and Baltics. Can invest also elsewhere in Europe. Hardware can be a minor component of an invested company’s offering, but software has to be the main part. Commonly co-invests with other funds. Can lead rounds in their focus geography.

Prefer B2B and B2C. B2G investments would require significant indications that the sales cycle is much faster than average in that area.

They look for traction before investing. In B2B there has to be revenue, in B2C traction can be proven in other ways as well.

They prefer to participate in companies at the board level.

Contrarian Ventures

Contrarian Ventures is a European fund investing into companies transforming the energy sector, including where and how it is used, with an emphasis on sustainability. They are also interested all energy tech, e-mobility, automation, AI, hydrogen, energy grids, and energy storage. They have an especial liking for software and hardware-enabled software.

They focus on B2B, but are interested in especially strong B2C and B2G cases as well.

The partners have extensive expertise and networks in energy and its associated sectors in addition to startups and venture capital. They have a singular focus on helping the best energy-related startups succeed.

They prefer to lead or co-lead in deals. They’re an active investor, seeking to add value through their network, expertise and services for all portfolio companies. They often look for a place on the board, at least as an observer. Their HQ is in Vilnius with partners based in London and other key European cities.

Helen Ventures

Helen Ventures is the €50M energy CVC fund of Helsinki energy company Helen. Their investments are connected to energy: production, storage, transmission, usage, saving, carbon neutrality, digital and other operational solutions for a large energy company, and related solution areas like mobility and circular economy.