The fruit and vegetable processing industry in the Nordics focuses on maximizing the potential of fresh produce through various methods of preservation, packaging, and innovation. Companies operating in this sector range from large corporations to small startups, with offerings such as canned goods, frozen products, and natural juices. The industry is increasingly embracing sustainability and traceability, catering to growing consumer demand for organic and plant-based products. As technology advances, the integration of agri-food tech is poised to enhance efficiency and product quality, making the Nordic region a hub for eco-conscious food processing solutions.


The list features 17 notable investors, including private equity firms and venture capitalists, all with varying focuses in the food sector. Primarily based in Stockholm and Helsinki, these investors range from small microfunds like Mudcake, to larger firms such as EQT Group. Their year of establishment spans over four decades, with a concentrated number of deals made in 2024, reflecting a robust interest in the rapidly evolving food industry. These financial backers aim to propel innovation in fruit and vegetable processing, showcasing their critical role in this thriving market.


Top 17 Fruit and Vegetable Processing Investors in the Nordics


1. Almi

  • Website: almi.se
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1994
  • Headcount: 201-500
  • Number of deals in 2024: 7
  • LinkedIn: almi-ab

Almi AB is a financial services company based in Stockholm, Sweden, founded in 1994. It specializes in providing loans, risk capital, and business development support to small and medium-sized enterprises (SMEs) in Sweden. Almi aims to enhance the growth and competitiveness of these businesses through tailored financial solutions and guidance. Notably, Almi Invest has participated in several transactions relevant to the food industry, such as Saveggy, which raised SEK 8 million to support its food technology initiatives, and Swedish Temptations (Bärta), which focuses on vegan and organic food production and raised $840k to automate production and expand sales. Additionally, Almi's investment in Nordic SeaFarm, which aims to produce plant-based crops from the sea, further highlights their engagement in innovative food solutions. These transactions demonstrate Almi's commitment to supporting companies that contribute to the food processing sector, particularly those that align with sustainable and plant-based practices.


2. EQT Group

  • Website: eqtgroup.com
  • Type: Private Equity
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1994
  • Headcount: 1001-5000
  • Number of deals in 2024: 30
  • LinkedIn: eqt-partners

EQT Group is a prominent investment firm based in Stockholm, Sweden, specializing in private equity, infrastructure, real estate, growth equity, and venture capital. Founded in 1994, EQT serves institutional investors by providing expertise in managing diverse investment portfolios across multiple sectors and geographies. Notably, EQT has made significant strides in the fruit and vegetable processing sector, highlighted by their acquisition of International Fruit Genetics (IFG) in August 2023, which aims to enhance breeding for table grapes and cherries. Additionally, their acquisition of Oterra in September 2020, a company focused on natural food ingredients, further underscores their commitment to the food processing industry. These strategic investments reflect EQT's capability and interest in the fruit and vegetable processing market.


3. Katapult

  • Website: katapult.vc
  • Type: Venture Capital
  • Headquarters: Oslo, Oslo, Norway
  • Founded year: 2017
  • Headcount: 11-50
  • Number of deals in 2024: 8
  • LinkedIn: katapult-accelerator

Katapult is an impact investment firm based in Oslo, Norway, founded in 2017. They focus on tech startups that address global challenges, providing investment, accelerator programs, and mentorship to early-stage companies. Their investment portfolio includes a variety of sectors, including climate-tech and ocean-tech. Notably, they have invested in Johannas Stadsodlingar, which raised $374,037 in a funding round in September 2022, indicating their interest in urban agriculture and sustainable food production. This aligns with the fruit and vegetable processing context, as it suggests a commitment to innovative agricultural practices. Other investments, such as those in Ocean's Balance and Legendary Foods Africa, further demonstrate their focus on sustainability and food-related ventures, although these are more aligned with ocean resources and food innovation in Africa, respectively.


4. Orkla ASA

  • Website: orkla.com
  • Type: Corporate
  • Headquarters: Oslo, Oslo, Norway
  • Founded year: 2017
  • Headcount: 10001+
  • Number of deals in 2024: 1
  • LinkedIn: orkla-asa

Orkla ASA is a leading industrial investment company based in Oslo, Norway, with a focus on branded consumer goods, aluminium solutions, and financial investments. Founded in 2017, Orkla operates in various sectors, offering a wide range of products including food, snacks, health, and personal care items. Notably, Orkla has made significant acquisitions in the food sector that enhance its presence in fruit and vegetable processing. For instance, the acquisition of Igos, a Danish company specializing in fruit fillings and bakery products, strengthens Orkla's product assortment in this area. Additionally, Orkla's acquisition of Hamé, a leading branded food company in Central Europe, further expands its footprint in the food market. These strategic moves demonstrate Orkla's commitment to enhancing its offerings in the food sector, including fruit and vegetable processing.


5. Kale United

  • Website: kaleunited.com
  • Type: Corporate
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 2018
  • Headcount: 1-10
  • Number of deals in 2024: 2
  • LinkedIn: kaleunited

Kale United is an investment firm based in Stockholm, Sweden, founded in 2018. The firm specializes in sustainable food production through impact investments in plant-based and foodtech companies. It caters to both individual and institutional investors who are interested in supporting the transition to a plant-based lifestyle while achieving financial returns. Notable transactions include investments in Swedish Temptations, a producer of vegan and organic foods, and Loki Foods, an alt-seafood producer developing plant-based products. These investments highlight Kale United's commitment to innovative food solutions that align with sustainable practices, making them a relevant player in the plant-based food industry.


6. Mudcake

  • Website: mudcake.com
  • Type: Corporate
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 2020
  • Headcount: 1-10
  • Number of deals in 2024: 3
  • LinkedIn: trellisroad

Mudcake is an investment microfund based in Stockholm, Sweden, founded in 2020. The firm specializes in providing pre-seed and seed funding to startups in the food industry, aiming to foster innovation in food production, distribution, and consumption. Their portfolio includes a variety of companies across multiple continents. Notable transactions include investments in NuCicer, an agri-food technology company focused on enhancing chickpea varieties, which could relate to vegetable processing. Additionally, their involvement with Stockeld Dreamery, an alt-dairy startup, indicates a broader interest in food innovation. While their current transactions do not explicitly target fruit and vegetable processing, their overarching focus on the food sector positions them as a potential investor in this area.


7. Nordic Foodtech VC


Nordic Foodtech VC is a venture capital firm based in Helsinki, Uusimaa, Finland, founded in 2019. The firm specializes in investing in early-stage companies that focus on deep foodtech innovations aimed at transforming the food system. Their portfolio includes several notable transactions, such as Hailia Oy, which raised $609,646 in a seed round, and Nordic Umami Company, which secured €2.6 million in seed funding. The latter company, in particular, is relevant as it operates within the food technology sector, potentially involving plant-based ingredients that relate to fruit and vegetable processing. Other investments include Melt&Marble, which raised significant funds in seed rounds, indicating a strong interest in innovative food technologies. Overall, Nordic Foodtech VC supports startups that develop sustainable and health-oriented food technologies, which may include advancements in fruit and vegetable processing.


8. 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. They focus on creating sustainable futures by investing in companies that address global development challenges, primarily in developing countries. Finnfund provides investment and advisory services to promote economic growth and sustainability across various sectors. Notably, they have invested in Nafoods Group, a Vietnamese food processor, providing a $5 million senior loan to support their operations. This investment highlights Finnfund's commitment to the food processing sector, particularly in fruit and vegetable processing. Additionally, they have engaged in other transactions, such as providing debt financing to ETG and Valency International, which may also relate to agricultural and food processing activities, further emphasizing their role in supporting sustainable food production.


9. 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 enhancing operational efficiency and sustainable growth for its partners. Altor has been involved in several significant transactions in the food processing sector, including the acquisition of Meyn Food Processing Technology, which specializes in poultry processing solutions, and Haarslev Industries, known for its equipment and services for the food and animal feed industries. These transactions highlight Altor's commitment to investing in companies that play a crucial role in food processing, including potential applications in fruit and vegetable processing.


10. Heartcore Capital

  • Website: heartcore.com
  • Type: Venture Capital
  • Headquarters: Copenhagen, Denmark
  • Founded year: 2007
  • Headcount: 11-50
  • Number of deals in 2024: 17
  • LinkedIn: heartcorecapital

Heartcore Capital is a venture capital firm based in Copenhagen, Denmark, founded in 2007. The firm specializes in investing in early-stage technology companies and emphasizes building long-term relationships with entrepreneurs. In 2024, Heartcore has already made 17 investments, showcasing their active role in the venture capital landscape. Notably, they have invested in WayCool, which raised $20 million in a Series A round in January 2021, focusing on the supply chain for fresh produce. Additionally, they have supported La Fourche, which raised $5.5 million in Series B funding in January 2024 and $9.35 million in October 2023, indicating a commitment to companies that may be involved in the organic food sector. These transactions highlight Heartcore's interest in the food industry, although their primary focus remains on technology-driven startups.


11. Aak

  • Website: aak.com
  • Type: Corporate
  • Headquarters: Malmo, Skåne, Sweden
  • Founded year: 2005
  • Headcount: 1001-5000
  • LinkedIn: aak-ab

AAK AB is a corporate investor based in Malmo, Skåne, Sweden, specializing in the production of vegetable oils and fats. Founded in 2005, AAK serves the food manufacturing sector with a diverse range of products tailored for applications in bakery, dairy, and confectionery. The company has made several strategic acquisitions to bolster its position in the market, including the acquisition of MaasRefinery B.V., a vegetable oils refinery in Rotterdam, which enhances AAK's capacity in the European market. Additionally, AAK acquired BIC Ingredients, focusing on specialty lecithin, further supporting its growth in the food processing sector. These transactions highlight AAK's commitment to improving the quality and sustainability of food products, making them a significant player in the fruit and vegetable processing industry.


12. Midsona AB


Midsona AB is a corporate investor based in Sweden, founded in 1991, that specializes in health and wellness products, particularly organic and plant-based food items. The company has made significant strides in the Nordic region and has expanded into other European markets, emphasizing sustainability and transparency in its operations. Among its notable transactions, Midsona acquired Urtekram International A/S in 2015, which bolstered its organic product offerings. In 2020, it acquired System Frugt for SEK298 million, enhancing its platform for plant-based food production and complementing its healthy snacks portfolio. Additionally, the acquisition of Davert GmbH in 2018 further diversified its product range, while the recent acquisition of Vitality and Oy in 2021 aimed to strengthen its position in the Finnish consumer health market. These transactions highlight Midsona's active role in the fruit and vegetable processing sector, particularly in the context of health-oriented products.


13. Novax

  • Website: novax.se
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1999
  • Headcount: 11-50
  • Number of deals in 2024: 3
  • LinkedIn: novax-ab

Novax is a Stockholm-based venture capital firm founded in 1999, focusing on supporting and developing small and medium-sized growth companies across various sectors, including health, technical security, sustainable food, and digital retail infrastructure. The firm provides investment, advisory services, and fosters a collaborative ecosystem to enhance the growth potential of its portfolio companies. Notably, Novax has made strategic acquisitions in the food industry, such as Louis François SAS, a developer of specialty functional ingredients, and MSK Ingredients, a UK-based leader in specialty ingredients for the food industry. Additionally, Novax participated in a growth financing round for Prolupin, a company specializing in plant-based proteins, further emphasizing their commitment to sustainable food innovation. These transactions highlight Novax's active role in the food sector, particularly in areas relevant to fruit and vegetable processing.


14. Paulig Group

  • Website: pauliggroup.com
  • Type: Corporate
  • Headquarters: Helsinki, Uusimaa, Finland
  • Founded year: 1876
  • Headcount: 1001-5000
  • Number of deals in 2024: 2
  • LinkedIn: paulig-group

Paulig Group is a Finnish food and beverage company founded in 1876, headquartered in Helsinki, Uusimaa. The company specializes in a diverse range of products, including Tex Mex, snacks, coffees, and spices, with a strong focus on high-quality and sustainable food solutions. Paulig has made significant investments in the food sector, including the acquisition of Gold&Green Foods, a vegetarian start-up known for its innovative 'pulled oats' products, which enhances their capacity to meet growing demand for plant-based foods. Additionally, Paulig's acquisition of Panesar Foods, a manufacturer of sauces and condiments, further diversifies their portfolio and strengthens their position in the food processing industry. These transactions reflect Paulig's commitment to innovation and sustainability in food production, making them a relevant player in the fruit and vegetable processing sector.


15. LRF Ventures

  • Website: lrfventures.se
  • Type: Corporate
  • Headquarters: Stockholm, Stockholm, Sweden
  • Headcount: 1-10
  • Number of deals in 2024: 1
  • LinkedIn: lrf-ventures

LRF Ventures is an investment firm based in Stockholm, Sweden, dedicated to supporting innovative startups within the agtech sector. They provide capital, consulting, and networking opportunities to help these businesses grow sustainably. Operating under the umbrella of LRF, an organization focused on the interests of green industries, LRF Ventures emphasizes its commitment to fostering growth in agriculture and forestry. In 2024, LRF Ventures participated in a seed round for Saveggy, which raised approximately $1.87 million, indicating a focus on sustainable food solutions. Additionally, they were involved in Gårdsfisk's Series A funding, which raised about $4.99 million, although the specific connection to fruit and vegetable processing is less clear. Their investment strategy appears to align with sustainability in food production, which could encompass fruit and vegetable processing, but their broader agtech focus may dilute their relevance specifically to this sector.


16. Kost Capital

  • Website: kostgroup.co
  • Type: Venture Capital
  • Headquarters: Frederiksberg, Frederiksberg, Denmark
  • Founded year: 2023
  • Headcount: 1-10
  • Number of deals in 2024: 4
  • LinkedIn: kost-capital

Kost Capital is a venture capital firm based in Frederiksberg, Denmark, founded in 2023. It operates as a food development studio and venture capital fund, focusing on innovative solutions within the food industry. Kost Capital supports food entrepreneurs and researchers in developing new products and technologies, with a strong emphasis on sustainable food systems. Their investment portfolio includes a variety of food-related startups, such as Sallea, which raised $2.6 million in a Pre-Seed round, and Nutrumami, which secured $486,054 in a similar round. Additionally, they participated in a Seed funding round for Foreverland, raising $3,761,915, and contributed to Numi, a French milktech startup that raised €3 million. These transactions highlight their active role in fostering innovation in the food sector, which is relevant to fruit and vegetable processing.


17. Creandum

  • Website: creandum.com
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 2003
  • Headcount: 11-50
  • Number of deals in 2024: 17
  • LinkedIn: creandum

Creandum is a venture capital firm based in Stockholm, Sweden, founded in 2003. They specialize in supporting early-stage entrepreneurs in building global, category-defining companies across various sectors, including fintech and health tech. Creandum provides venture capital investment, strategic support, and networking opportunities to startups. Among their notable transactions, they have invested in Stockeld Dreamery, which focuses on innovative food products, and Project Eaden, a Berlin-based company that raised significant funding to develop proprietary technology for food products, indicating a focus on the food industry. Their investment in Linas Matkasse, a meal kit delivery service, further demonstrates their engagement in the food sector. These transactions highlight Creandum's interest in companies that could impact fruit and vegetable processing, making them a relevant investor in this space.



Fruit and Vegetable Processing Insights: Key Investors in the Nordics


InvestorHeadquarterSizeFoundedDeals 2024
AlmiStockholm, Stockholm, Sweden201-50019947
EQT GroupStockholm, Stockholm, Sweden1001-5000199430
KatapultOslo, Oslo, Norway11-5020178
Orkla ASAOslo, Oslo, Norway10001+20171
Kale UnitedStockholm, Stockholm, Sweden1-1020182
MudcakeStockholm, Stockholm, Sweden1-1020203
Nordic Foodtech VCHelsinki, Uusimaa, Finland1-1020197
FinnfundHelsinki, Uusimaa, Finland51-20019807
Altor Equity PartnersStockholm, Stockholm, Sweden51-20020036
Heartcore CapitalCopenhagen, Denmark11-50200717
AakMalmo, Skåne, Sweden1001-500020050
Midsona ABSweden501-100019910
NovaxStockholm, Stockholm, Sweden11-5019993
Paulig GroupHelsinki, Uusimaa, Finland1001-500018762
LRF VenturesStockholm, Stockholm, Sweden1-101
Kost CapitalFrederiksberg, Frederiksberg, Denmark1-1020234
CreandumStockholm, Stockholm, Sweden11-50200317


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