The European Investment Fund announced on 10 September 2026 that it has pledged up to €30 million to Nordic Foodtech VC, a Helsinki-based venture capital firm focused on early-stage agrifood technology. The commitment supports NFT.VC Fund II, which targets €80 million to invest in around 30 companies primarily across Northern Europe. The operation is backed by InvestEU and aims to accelerate sustainable food production while strengthening food security and climate resilience.
EIF Backing Anchors Fundraising Momentum
The pledge from the EIF, part of the European Investment Bank Group, brings the fund very close to its target size. Nordic Foodtech VC reached a first closing of €40 million in April 2025, and the EIF commitment is expected to attract additional private investors. The fund will focus on pre-seed and seed-stage ventures, including spin-outs from universities and research centres.
Fund Strategy and Regional Reach
Nordic Foodtech VC combines specialised investment capital with scientific and industry expertise to guide companies through their earliest development stages. The firm’s first fund invested in 18 companies across the Nordic and Baltic regions. With EIF support, the manager plans to grow its reach across all of Northern Europe while also pursuing opportunities elsewhere in Europe.
Targeting Sustainable Agrifood Technologies
NFT.VC Fund II will prioritise companies developing sustainable technologies across agriculture, food, health, aquaculture and the broader biosolutions industry. EIB Group Vice-President Karl Nehammer stated that promising technologies need capital and expertise to move from laboratory to market. He added that the investment will help young companies build businesses that strengthen food security, climate resilience and European competitiveness.
InvestEU and Climate Objectives
The EIF investment is supported by the InvestEU equity product for climate and environmental solutions. It also includes funding from the European Maritime, Fisheries and Aquaculture Fund for blue economy investments and EIB Risk Capital Resources. The majority of the fund’s investments are expected to contribute to climate action and environmental sustainability, while the fund also aims to support gender diversity.
European Investment Fund Role
The European Investment Fund acts as an anchor investor through its extensive network of partner banks and investment funds. Its mandate includes improving access to finance for small and medium-sized businesses and startups across Europe. The EIF has also joined forces with institutional investors in a pan-European alliance to mobilise up to €80 billion for innovative companies scaling up across the continent.
Broader European Financing Activity
The commitment arrives amid sustained financing activity across European agriculture, food, aquaculture and adjacent biosolutions technologies in 2026. Recent rounds total approximately €95.7 million, including up to €38.5 million for German land-based aquaculture company Oceanloop and €15 million for French biological crop-protection startup Agriodor. Additional activity includes funding for Belgian, German and Finnish ventures, underscoring investor interest in the sector.
A Closer Look at Nordic Foodtech VC
Founded in 2019, Nordic Foodtech VC is reported to be the first Nordic venture capital fund dedicated to practical solutions for the agriculture and food industries. The firm manages two funds, a €42 million vehicle launched in 2020 and a second fund launched in 2025 under Article 8 of the Sustainable Finance Disclosure Regulation. Initial investments are up to €2 million, with significant reserves for follow-on investments, and the team operates from Helsinki and Copenhagen.
The EIF commitment to Nordic Foodtech VC highlights the growing role of public financial institutions in catalysing early-stage climate and food technology investment. By anchoring an €80 million fund with up to €30 million, the EIF aims to bridge the gap between European research and commercial scale-up. The collaboration is expected to advance sustainable food systems and reinforce Europe’s position in agrifood innovation.