The food supply chain industry in the Nordics involves various players working together to ensure food safety, quality, and sustainability. Key companies range from innovative food processors to logistics providers, all contributing to enhancing efficiency and reducing waste. With increasing consumer demand for organic and plant-based products, the industry is leaning toward sustainable solutions that emphasize production transparency and traceability. Additionally, technology is playing a vital role, as firms increasingly tap into digital tools for supply chain management. This growing emphasis on innovation highlights the Nordics’ commitment to shaping a more resilient and eco-friendly food landscape.


The listed investors in the Nordics include a mix of private equity firms, corporate investors, and venture capital entities, showcasing their strategic interests. Headquartered primarily in Stockholm, Copenhagen, and Helsinki, these firms range in size from boutique funds to large multinational corporations. Founded between 1887 and 2018, their collective investments in the food supply chain reflected a proactive approach to market opportunities, yielding a robust count of 85 deals in 2024. Such activities highlight their commitment to fostering growth in this dynamic sector.


Top 19 Food Supply Chain Investors in the Nordics


1. 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. Among their notable transactions, EQT has acquired BLOOM FRESH International, a global breeding entity focused on table grape and cherry genetics, showcasing their commitment to agricultural innovation. They also acquired Koole Tanktransport B.V., a leading independent storage terminal operator for edible oils and fats, which plays a crucial role in the food supply chain. Furthermore, their acquisition of Constellation Cold Logistics highlights their investment in cold storage solutions essential for food distribution. These transactions reflect EQT's strategic focus on sectors that enhance the efficiency and sustainability of the food supply chain.


2. 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. In 2024, Katapult has been active with 8 investments, including notable transactions in the food supply chain context. For example, they invested in Afrikamart, which raised $150,000 to enhance food distribution in Africa, and Johannas Stadsodlingar, which raised $374,037 for urban farming initiatives. These investments reflect Katapult's commitment to supporting innovative solutions in the food supply chain, alongside their broader focus on climate-tech and ocean-tech.


3. 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, founded in 2017. It operates across various sectors, including branded consumer goods, aluminium solutions, and financial investments. Orkla is particularly known for its extensive range of products in the food sector, including snacks, health, and personal care items. The company serves both consumers and businesses, providing high-quality branded goods and solutions. Notably, Orkla has made several strategic acquisitions in the food supply chain, such as the acquisition of Hamé, a prominent branded food company in Central Europe, and Arne B. Corneliussen, a Norwegian ingredients company. These acquisitions aim to enhance Orkla's growth platform in the food industry and create synergies with existing operations. Furthermore, Orkla's investment in the food tech startup Cerve highlights its commitment to innovation and expansion in the food market, reinforcing its position as a key player in the food supply chain.


4. A.P. Moller - Maersk

  • Website: maersk.com
  • Type: Corporate
  • Headquarters: Copenhagen, Denmark
  • Founded year: 1904
  • Headcount: 10001+
  • Number of deals in 2024: 4
  • LinkedIn: maersk-group

A.P. Møller – Mærsk A/S is a leading logistics company based in Copenhagen, Denmark, founded in 1904. With over 10,000 employees, the company specializes in shipping and logistics services, providing global solutions for shipping, port operations, supply chain management, and warehousing. In recent years, A.P. Moller - Maersk has made several investments that align with the food supply chain sector. Notably, they participated in funding rounds for Afresh Technologies, a company that develops software aimed at improving food supply chain efficiency. Afresh raised significant amounts in Series A and Series B funding rounds, indicating Maersk's interest in technology that enhances the logistics and management of food supply chains. This strategic focus on improving supply chain operations positions A.P. Moller - Maersk as a relevant player in the food supply chain investment landscape.


5. 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) across various industries, including the food supply chain. Almi aims to enhance the growth and competitiveness of these businesses by offering tailored financial solutions and guidance. Notably, Almi has been involved in several transactions, such as the seed funding rounds for Tebrito, which raised a total of approximately $4.5 million over multiple rounds from 2019 to 2021. Additionally, they participated in an angel round for Havredals, which raised $330,000 in 2020. While the specific focus of these companies is not detailed, their involvement in the food sector could align with Almi's investment strategy, making them a potential player in the food supply chain.


6. 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, focused on managing the assets of the Novo Nordisk Foundation. Founded in 1999, it primarily invests in life science companies at various stages of development, providing capital and strategic support to enhance healthcare solutions. In recent years, Novo Holdings has also made significant investments in the food supply chain sector, including a €22 million investment in The Protein Brewery, which focuses on producing alternative protein sources, and an €8 million investment in Deep Branch Biotechnology, a producer of alternative feed ingredients. These transactions highlight Novo Holdings' commitment to supporting innovative companies that contribute to sustainable food production and supply chain efficiency.


7. 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 a corporate investment firm based in Stockholm, Sweden, founded in 2018. The firm specializes in impact investments focused on sustainable food production, particularly in the plant-based and foodtech sectors. Kale United serves 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 Nordic SeaFarm, which is working to become Europe's largest producer of plant-based crops from the sea. They also participated in funding for One Planet Pizza, a vegan frozen pizza startup, and acquired Enkla Kassen, a vegan meal kit service, to enhance their presence in the food supply chain. These activities highlight Kale United's commitment to fostering innovation and sustainability within the food industry.


8. 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 supporting startups within the food industry, providing capital and resources primarily in pre-seed and seed rounds. Mudcake has a global reach, with a portfolio that spans multiple continents. Notable transactions include a $2.5 million seed investment in Nilus, which focuses on food distribution, and a $1.3 million convertible note for Bond Pet Foods, which innovates in pet food production. Additionally, Mudcake participated in the seed funding rounds for Project Eaden, which raised $2.26 million, and NuCicer, which raised $4.5 million to enhance chickpea production technology. These investments highlight Mudcake's commitment to fostering innovation in the food supply chain.


9. 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. It 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 the food supply chain through significant transactions such as a $50 million Series C investment in Twiga Foods, a company that connects farmers to markets in Africa, and a $5 million senior loan to Nafoods Group, a Vietnamese food processor. These investments highlight Finnfund's commitment to enhancing food security and supporting sustainable agricultural practices.


10. Kinnevik

  • Website: kinnevik.com
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1936
  • Headcount: 11-50
  • Number of deals in 2024: 10
  • LinkedIn: investment-ab-kinnevik

Kinnevik is an investment company based in Stockholm, Sweden, founded in 1936. The firm partners with innovative entrepreneurs across various sectors, including healthcare, software, marketplaces, and climate tech, providing both capital and operational support to help these companies scale and create long-term value. Notably, Kinnevik has made significant investments in the food supply chain, including Foodpanda, which raised $20 million in Series A and Series C funding rounds in 2013 and 2014, respectively. Additionally, Kinnevik has invested in Oda, an online grocery retailer, which raised substantial amounts in venture funding and debt financing in 2021 and 2022. These transactions highlight Kinnevik's commitment to redefining industries and addressing global challenges, particularly in the food supply chain context.


11. 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 invested in Cornershop, a fast grocery delivery service operating in Mexico and Chile, participating in both Series A and Series B funding rounds. Additionally, they have invested in Project Eaden, a Berlin-based startup focused on food technology, which has raised significant funding to develop proprietary tech for food products. These investments highlight Creandum's engagement in the food supply chain sector, particularly in enhancing delivery services and food technology.


12. VNV Global AB

  • Website: vnv.global
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1996
  • Headcount: 1-10
  • Number of deals in 2024: 1
  • LinkedIn: vostok-new-ventures-ltd

VNV Global AB is a venture capital investment firm based in Stockholm, Sweden, founded in 1996. The firm focuses on providing capital and expertise to innovative companies across various sectors, including Mobility and Digital Health. VNV Global aims to support mission-driven entrepreneurs in developing scalable and sustainable business models, emphasizing long-term profitability and strong market positions. Notably, VNV Global has been involved in key transactions within the food supply chain sector, such as co-leading a $16.5 million Series A funding round for Collectiv Food, the largest recorded Series A round by a B2B food supply business in Europe. They also participated in a funding round for MatHem, a Swedish online grocer, showcasing their commitment to investing in the food supply chain. These transactions highlight VNV Global's active role in supporting innovative food supply chain companies.


13. 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 products. Indutrade emphasizes long-term relationships with its customers and operates through a decentralized structure, allowing its subsidiaries to maintain independence while benefiting from the group's resources. Notably, in 2024, Indutrade acquired ATLINE ApS, a Danish company specializing in in-line sampling and quality assurance for the pet food and feed industries, which highlights its active role in the food supply chain. This acquisition is part of a broader strategy to enhance its portfolio in sectors that require reliable and innovative solutions, further solidifying its relevance in the food supply chain context.


14. Danish Crown


Danish Crown is a corporate investor based in Randers, Denmark, founded in 1887. As one of the largest meat processing companies in Europe, it specializes in the production and sale of high-quality pork and beef products. The company serves a diverse customer base, including food retailers and wholesalers, and emphasizes food safety and sustainability in its operations. Danish Crown has been actively involved in several strategic acquisitions to enhance its position in the food supply chain. Notable transactions include the acquisition of Bacon Specialist Zandbergen, which aimed to strengthen their bacon product offerings, and the full ownership of Sokolow, a leading processed meat products processor in Poland, for $246 million. Additionally, their acquisition of Teterower Fleisch, a major cattle slaughterhouse in Germany, reflects their strategy to bolster their beef division. These transactions highlight Danish Crown's commitment to expanding its influence and capabilities within the food supply chain.


15. 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 food supply chain, including the acquisition of Euro Cater in 2006, a company that plays a crucial role in food distribution and logistics. Additionally, they have invested in Meyn Food Processing Technology, which is pivotal in food processing solutions. These transactions highlight Altor's active engagement in the food supply chain, demonstrating their capability to enhance operational efficiencies within this sector.


16. 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 investment strategy is centered around supporting startups that develop sustainable and health-oriented food technologies. Notable transactions include investments in Nordic Umami Company, which raised €2.6 million in seed funding, and EniferBio, which secured over €1 million in seed funding. These investments highlight Nordic Foodtech VC's commitment to enhancing the food supply chain through innovative food technology solutions, primarily targeting businesses in the food technology sector across the Nordics and Baltics.


17. Lifeline Ventures


Lifeline Ventures is a venture capital firm based in Helsinki, Uusimaa, Finland, founded in 2009. The firm specializes in early-stage investments across various sectors, providing financial backing and advisory services to entrepreneurs. Lifeline Ventures has been actively involved in the food supply chain sector, notably through its investments in Solar Foods, a company that has raised significant funding to develop its air protein production facility. In 2020, Lifeline Ventures participated in a €18.5m Series A round for Solar Foods, and they continued to support the company in subsequent funding rounds, including a $8.8M Series B round in 2023. This focus on innovative food technologies demonstrates Lifeline Ventures' commitment to enhancing the food supply chain, making them a valuable player in this industry.


18. Nordic Capital

  • Website: nordiccapital.com
  • Type: Private Equity
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1989
  • Headcount: 201-500
  • Number of deals in 2024: 10
  • LinkedIn: nordic-capital

Nordic Capital is a private equity firm based in Stockholm, Sweden, founded in 1989. The firm specializes in investments across various sectors, including healthcare and technology, but has also made notable investments in the food supply chain. Noteworthy transactions include the acquisition of Greenfood Group, a company focused on healthy food solutions, and Lagkagehuset, a premium Danish bakery and food service chain. These investments reflect Nordic Capital's strategy of partnering with management teams to drive growth and operational improvements, particularly in the food sector. The firm emphasizes creating long-term value and sustainability in its portfolio, appealing to institutional investors seeking sustainable investment opportunities.


19. NTG | Nordic Transport Group A/S


NTG | Nordic Transport Group A/S is a logistics company based in Hvidovre, Denmark, specializing in freight forwarding and transportation services. Founded in 2011, NTG operates with a decentralized business model, providing tailored logistics solutions across various industries. In recent years, NTG has made several strategic acquisitions to enhance its logistics capabilities. Notably, the acquisition of Cargorange Sweden AB allows NTG to expand its operations in Continental Europe and improve services between Sweden and the UK, which can include food transportation. Additionally, the acquisition of Ebrex Business Solutions Ltd. strengthens NTG's position in the freight forwarding market in Europe, further supporting their logistics services that can cater to the food supply chain. Overall, NTG's focus on logistics and freight forwarding positions them as a relevant player in the food supply chain industry.



Food Supply Chain Insights: Key Investors in the Nordics


InvestorHeadquarterSizeFoundedDeals 2024
EQT GroupStockholm, Stockholm, Sweden1001-5000199430
KatapultOslo, Oslo, Norway11-5020178
Orkla ASAOslo, Oslo, Norway10001+20171
A.P. Moller - MaerskCopenhagen, Denmark10001+19044
AlmiStockholm, Stockholm, Sweden201-50019947
Novo HoldingsHellerup, Denmark51-200199945
Kale UnitedStockholm, Stockholm, Sweden1-1020182
MudcakeStockholm, Stockholm, Sweden1-1020203
FinnfundHelsinki, Uusimaa, Finland51-20019807
KinnevikStockholm, Stockholm, Sweden11-50193610
CreandumStockholm, Stockholm, Sweden11-50200317
VNV Global ABStockholm, Stockholm, Sweden1-1019961
Indutrade Life ScienceStockholm, Stockholm, Sweden1001-5000197814
Danish CrownRanders, Denmark10001+18870
Altor Equity PartnersStockholm, Stockholm, Sweden51-20020036
Nordic Foodtech VCHelsinki, Uusimaa, Finland1-1020197
Lifeline VenturesHelsinki, Uusimaa, Finland1-10200914
Nordic CapitalStockholm, Stockholm, Sweden201-500198910
NTG | Nordic Transport Group A/SHvidovre, Denmark1001-500020113


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