The poultry feed industry in the Nordics is essential for meeting growing consumer demand for protein-rich diets. This sector is characterized by various players, including feed producers, technology firms, and agritech companies, all focused on sustainability and innovation. Key areas of focus include enhancing feed efficiency, alternative nutrition sources, and automation in production processes. With rising environmental awareness, companies are increasingly integrating eco-friendly practices into their operations. The industry's future appears bright, as health-conscious consumers drive the need for higher-quality poultry products, prompting businesses to adopt advanced technologies and sustainable methods in poultry feed production.


The top poultry feed investors listed here range from corporate giants to venture capital firms, mainly headquartered across Sweden, Denmark, and Norway. Founded between 1955 and 2021, these investors reflect a strong commitment to the industry, evidenced by their collective investments in diverse tech-driven companies. In 2024 alone, they engaged in numerous deals—Munters and Finnfund both made notable contributions—showcasing proactive strategies in enhancing poultry production efficiency and sustainability. Their experience varies in size, with employee counts from small teams to thousands, illustrating a comprehensive approach to strengthening the Nordic poultry feed market.


Top 11 Poultry Feed Investors in the Nordics


1. Novo Holdings

  • Website: novoholdings.dk
  • Type: Venture Capital
  • Headquarters: Hellerup, Denmark
  • Founded year: 1999
  • Headcount: 51-200
  • Number of deals in 2024: 45
  • LinkedIn: novo-a-s

Novo Holdings A/S is a not-for-profit investment firm based in Hellerup, Denmark, founded in 1999. It manages the assets of the Novo Nordisk Foundation and primarily invests in life science companies at various stages of development, providing capital and strategic support to enhance healthcare solutions. Notably, Novo Holdings has invested in Deep Branch Biotechnology, a UK-based company that produces alternative feed ingredients, which received an €8M Series A investment round led by Novo Holdings. This investment highlights their engagement in the poultry feed sector, as alternative feed ingredients are crucial for sustainable poultry farming. Additionally, they have supported other companies like Bactolife, which, while not directly related to poultry feed, showcases their broader interest in innovative life sciences.


2. Finnfund

  • Website: finnfund.fi
  • Type: Corporate
  • Headquarters: Helsinki, Uusimaa, Finland
  • Founded year: 1980
  • Headcount: 51-200
  • Number of deals in 2024: 7
  • LinkedIn: finnfund

Finnfund is a not-for-profit development financier and impact investor based in Helsinki, Finland, founded in 1980. The organization focuses on creating sustainable futures by investing in companies that address global development challenges, particularly in developing countries. Finnfund provides investment and advisory services to promote economic growth and sustainability across various sectors. Notably, Finnfund has invested in EthioChicken, an Ethiopian chicken company, with a total of $15 million across two transactions in 2016 and 2021, aimed at enhancing food security and job creation. This investment highlights their active role in the poultry industry, demonstrating their commitment to supporting sustainable agricultural practices and food production.


3. Altor Equity Partners

  • Website: altor.com
  • Type: Private Equity
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 2003
  • Headcount: 51-200
  • Number of deals in 2024: 6
  • LinkedIn: altor

Altor Equity Partners is a private equity investment management firm based in Stockholm, Sweden, founded in 2003. The firm specializes in providing consulting services across various sectors, including technology and consumer products, with a strong emphasis on operational efficiency and sustainable growth. Notably, Altor has made significant investments in the animal feed sector, including the acquisition of Hamlet Protein, a Danish producer of high value-add young animal feed, which positions them as a key player in the poultry feed market. Additionally, Altor has been involved in transactions with companies like Meyn Food Processing Technology and EWOS, further demonstrating their engagement in the broader food processing and feed industries.


4. Yara Growth Ventures


Yara Growth Ventures is a venture capital firm based in Oslo, Norway, founded in 2021. The firm focuses on investing in innovative startups and funds within the agriculture and clean hydrogen sectors. They provide financial support and strategic guidance to help their portfolio companies develop and scale their solutions. Yara Growth Ventures has participated in several significant transactions, including a $30 million Series C funding round for Agrofy, an Argentine farmer marketplace, which aims to enhance e-commerce and fintech solutions for farmers. They also invested in Tarfin, an agritech company in Turkey, which supports farmers with financing solutions. Their recent investments in Agrolend, a Brazilian agribusiness capital provider, further demonstrate their commitment to the agricultural sector. By leveraging their extensive network, Yara Growth Ventures aims to facilitate advancements in sustainable agriculture, which can include innovations in poultry feed.


5. Marel

  • Website: marel.com
  • Type: Corporate
  • Headquarters: Garðabær, Garðabær, Iceland
  • Founded year: 1983
  • Headcount: 5001-10000
  • LinkedIn: marel

Marel is a food processing equipment manufacturer based in Garðabær, Iceland, founded in 1983. The company specializes in providing advanced solutions for the poultry, meat, fish, and prepared foods industries. Marel offers a range of products including processing machinery, software solutions, and maintenance services aimed at improving efficiency and product quality through automation and innovative technology. Notably, Marel has made significant acquisitions to strengthen its position in the poultry sector, including the acquisition of Poultry Machinery Joosten B.V. (PMJ) in January 2021, which focuses on duck and goose processing. This acquisition allows Marel to enhance its poultry processing capabilities and expand its market reach. Additionally, Marel's acquisition of Wenger Manufacturing LLC in 2022, while primarily focused on pet food and plant-based proteins, indicates a broader strategy in the food processing industry that may intersect with poultry feed solutions. Overall, Marel's strategic investments in poultry processing technology and capabilities position it as a relevant player in the poultry feed industry.


6. Polaris Private Equity


Polaris Private Equity is a private equity firm based in Copenhagen, Denmark, founded in 1998. The firm specializes in investment management, focusing on supporting mid-sized companies in the Nordic region through tailored investment strategies, including private equity, flexible capital, and public equity. Polaris partners with management teams to drive growth and operational improvements, helping these companies realize their full potential. Notably, Polaris has been involved in significant transactions within the poultry feed context, including the acquisition of HAMLET PROTEIN in 2007, which specializes in protein solutions for animal feed, including poultry. Additionally, they acquired Novadan, a company that may have relevance in the broader food and feed industry. Their recent acquisition of FaunaPharma in 2024 further demonstrates their active investment strategy in sectors related to animal health and nutrition, which can intersect with poultry feed. Overall, Polaris Private Equity's strategic investments in companies related to animal nutrition and feed position them as a relevant player in the poultry feed industry.


7. Munters

  • Website: munters.com
  • Type: Corporate
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1955
  • Headcount: 1001-5000
  • Number of deals in 2024: 4
  • LinkedIn: munters

Munters is a climate control solutions provider based in Stockholm, Sweden, specializing in energy-efficient products for industrial and agricultural applications. Founded in 1955, the company offers a range of products including dehumidifiers, air cleaning systems, and cooling solutions. Munters serves various sectors, including food agriculture, where precise climate control is essential for enhancing productivity and sustainability. In recent years, Munters has made significant acquisitions to strengthen its position in the agricultural sector, particularly in poultry and livestock. For instance, their acquisition of MTech Systems in 2017, which focuses on software systems for poultry and swine production, aims to integrate advanced data analytics with climate control solutions. Additionally, their acquisition of Reventa, a company specializing in climate control systems for livestock buildings, further emphasizes their commitment to the agricultural sector. More recently, Munters has also acquired Hotraco, a developer of control systems and sensors for agriculture, which is expected to enhance their FoodTech portfolio. These transactions highlight Munters' strategic focus on improving climate control solutions in the poultry feed industry.


8. Indutrade Life Science

  • Website: indutrade.se
  • Type: Corporate
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1978
  • Headcount: 1001-5000
  • Number of deals in 2024: 14
  • LinkedIn: indutrade-life-science

Indutrade Life Science is a corporate investor based in Stockholm, Sweden, founded in 1978. The company is part of an industrial group that focuses on developing and acquiring companies with high technical expertise across various sectors, including technology and industrial solutions. In 2024, Indutrade has made 14 investments, highlighting its active role in the market. A notable transaction is the acquisition of ATLINE ApS, a Danish company specializing in in-line sampling and quality assurance for the pet food and feed industries, valued at approximately SEK 60 million. This acquisition is significant as it marks Indutrade's commitment to the feed sector, which encompasses poultry feed. Other acquisitions, while not directly related to poultry feed, showcase Indutrade's strategy of expanding its portfolio in industries that require reliable and innovative industrial products.


9. Maki.vc

  • Website: maki.vc
  • Type: Venture Capital
  • Headquarters: Helsinki, Uusimaa, Finland
  • Founded year: 2018
  • Headcount: 1-10
  • Number of deals in 2024: 11
  • LinkedIn: maki-vc

Maki.vc is a venture capital firm based in Helsinki, Uusimaa, Finland, founded in 2018. The firm specializes in seed-stage investments in deep tech and brand-driven companies, providing funding and support to early-stage startups to help them navigate growth and innovation challenges. Maki.vc operates primarily in the Nordic region but has a global investment mandate. Notably, Maki.vc has invested in Onego Bio, a Finnish startup that has developed a breakthrough technology to produce egg white without chickens, raising EUR 10 million in seed funding in February 2022 and participating in a $40 million Series A funding round in April 2024. Additionally, Maki.vc has been involved with Volare, a startup that has raised significant funding to support its growth in the agricultural sector, indicating their interest in innovative solutions within the poultry industry.


10. Summa Equity

  • Website: summaequity.com
  • Type: Private Equity
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 2016
  • Headcount: 51-200
  • Number of deals in 2024: 6
  • LinkedIn: summa-equity

Summa Equity is a private equity firm based in Stockholm, Sweden, founded in 2016. The firm specializes in thematic investments that address global challenges, with a strong emphasis on sustainable investment solutions across various sectors, including resource efficiency and technology. Their client base includes institutional investors and companies seeking capital for growth, highlighting their commitment to aligning financial returns with positive societal impact. Recently, Summa Equity acquired a majority stake in Nutris, a Croatian factory that specializes in sustainable plant-based protein sources from fava beans, which is relevant to the poultry feed industry. This acquisition, made through their €2.3 billion Summa Equity Fund III, reflects their focus on sustainable food sources. Additionally, their investment in STIM, a supplier of fish health products for aquaculture, showcases their broader interest in sustainable food production systems, which may intersect with poultry feed considerations.


11. Lantmännen

  • Website: lantmannen.com
  • Type: Corporate
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 2001
  • Headcount: 10001+
  • Number of deals in 2024: 3
  • LinkedIn: lantmannen

Lantmännen is a prominent agricultural cooperative based in Stockholm, Sweden, founded in 2001. With over 10,000 employees, it plays a significant role in agriculture, machinery, bioenergy, and food products. The cooperative is owned by Swedish farmers and emphasizes sustainable practices across its operations. Lantmännen has been involved in several key transactions, including the acquisition of HKFoods in March 2024, which may enhance their capabilities in food production, potentially including poultry feed. Additionally, their acquisition of the Spira Group and VAASAN Group OY reflects their strategy to expand their product offerings and strengthen their market position in the Baltic Sea region, which could also encompass poultry-related products.



Poultry Feed Insights: Key Investors in the Nordics


InvestorHeadquarterSizeFoundedDeals 2024
Novo HoldingsHellerup, Denmark51-200199945
FinnfundHelsinki, Uusimaa, Finland51-20019807
Altor Equity PartnersStockholm, Stockholm, Sweden51-20020036
Yara Growth VenturesOslo, Oslo, Norway1-1020214
MarelGarðabær, Garðabær, Iceland5001-1000019830
Polaris Private EquityCopenhagen, Denmark51-20019984
MuntersStockholm, Stockholm, Sweden1001-500019554
Indutrade Life ScienceStockholm, Stockholm, Sweden1001-5000197814
Maki.vcHelsinki, Uusimaa, Finland1-10201811
Summa EquityStockholm, Stockholm, Sweden51-20020166
LantmännenStockholm, Stockholm, Sweden10001+20013


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