The gourmet food and beverage industry in the Nordics thrives on quality, innovation, and sustainability. Companies range from artisanal producers to established brands, presenting a variety of gourmet products including exquisite cheeses, craft beers, premium spirits, and plant-based offerings. With consumer interest in ethical sourcing and health-conscious options rising, the industry is shifting towards sustainable practices and unique flavor profiles. Interestingly, the region's culinary heritage, combined with cutting-edge technology, is sparking a surge in food-tech startups, making it an exciting area for investment and expansion. As global trends evolve, so too does the potential for growth and innovation in this sector.


This listing showcases a mix of 19 prominent investors in the Nordics, including private equity firms, venture capitalists, and major corporations. Based in cities like Stockholm, Oslo, and Helsinki, these investors vary in size and investment focus, with many established in the late 20th century. In 2024, they collectively made significant moves in the gourmet food and beverage sector, proving their commitment to innovation, sustainability, and market expansion. Noteworthy investors include EQT Group and Orkla ASA, reflecting a robust presence of strategic financial backing in this niche market.


Top 19 Gourmet Food and Beverage 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 managing diverse investment portfolios across multiple sectors and geographies. Among their notable transactions in the gourmet food and beverage sector, EQT acquired Classic Fine Foods Group, a leading distributor of gourmet food products, from the Vestey Group, which highlights their engagement in the gourmet market. Additionally, they participated in the funding of LIVEKINDLY, a company focused on plant-based foods, reflecting their interest in innovative food solutions. EQT's acquisition of BLOOM FRESH International, which focuses on table grape and cherry genetics, also ties into the broader food and beverage industry, showcasing their diverse investment strategy that includes gourmet food-related ventures.


2. 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 markets, providing high-quality products across food, snacks, health, and personal care sectors. Notably, Orkla has made several strategic acquisitions in the gourmet food and beverage industry, including:1. **MTR Foods**: Acquired in 2007 for $80 million, this Bangalore-based packaged foods company enhances Orkla's presence in the Indian market.2. **Eastern Condiments**: In 2020, Orkla acquired a 68% stake in this Kerala-based company, further solidifying its footprint in the spice and condiment sector.3. **Hamé**: This acquisition in 2016 for EUR 175 million allowed Orkla to significantly increase its market share in Central Europe, focusing on branded food products.4. **Struer Brød**: Acquired in 2018, this Danish cereal manufacturer strengthens Orkla's production capacity and product development in the breakfast segment.5. **Kanakis**: The acquisition of a controlling stake in this Greek ingredients business in 2019 demonstrates Orkla's commitment to expanding its gourmet food offerings.Through these transactions, Orkla ASA has established itself as a key player in the gourmet food and beverage sector, making it a relevant investor in this category.


3. Carlsberg Group

  • Website: carlsberggroup.com
  • Type: Corporate
  • Headquarters: Grimstad, Agder, Norway
  • Founded year: 1847
  • Headcount: 10001+
  • Number of deals in 2024: 2
  • LinkedIn: carlsberg-group

Carlsberg Group, founded in 1847, is a leading brewery specializing in the production of beer and other beverages. With a workforce of over 10,000 employees, the company operates globally and is committed to sustainability and quality in its brewing processes. In recent years, Carlsberg has made strategic investments in the gourmet food and beverage sector, including a minority stake acquisition in Mikkeller, a renowned craft brewery known for its unique and high-quality beers, announced on January 16, 2024. Additionally, Carlsberg's acquisition of Wernesgrüner Brewery in 2020 further solidifies its position in the gourmet beverage market, enhancing its offerings in northern and eastern Germany. These transactions reflect Carlsberg's focus on expanding its portfolio within the gourmet segment of the beverage industry.


4. 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 aims to support the transition to a plant-based lifestyle while delivering financial returns for individual and institutional investors. Notable transactions include the acquisition of over 95% of Lily & Hanna's, a Swedish vegan ice cream brand, which highlights their commitment to gourmet plant-based products. Additionally, they participated in funding rounds for Veggie Victory, a Nigerian vegan food tech startup, and Loki Foods, an alt-seafood producer in Iceland, further emphasizing their focus on innovative and sustainable food solutions. Their involvement in these ventures positions them as a key player in the gourmet food and beverage industry, particularly within the plant-based segment.


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) in Sweden. Almi aims to enhance the growth and competitiveness of these businesses by offering tailored financial solutions and guidance. In the gourmet food and beverage sector, Almi has made notable investments, including Mörsjö Deli, which focuses on gourmet food products, and Mackmyra Svensk Whisky, a well-known producer of premium whisky. They also invested in Havredals, which is likely involved in the food sector, and OTTOs barnmat, which focuses on children's food. Furthermore, their investment in Swedish Temptations (Bärta), a producer of vegan and organic foods, highlights their commitment to supporting innovative food companies. These transactions demonstrate Almi's active role in the gourmet food and beverage industry, making them a significant investor in this space.


6. 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 2020, Katapult was involved in funding Hooked Foods, a Swedish company that specializes in plant-based products, securing a total of SEK 5 million (approximately $600k USD) to launch their product Toona. This investment highlights Katapult's engagement in the gourmet food and beverage space, particularly in sustainable and innovative food solutions. Additionally, they have supported other companies like Oregon Seaweed and Ocean's Balance, which are also related to sustainable food production, further emphasizing their relevance in the gourmet food sector.


7. 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 in the food industry, providing investment in pre-seed and seed rounds to help founders innovate in food production, distribution, and consumption. Mudcake operates globally and has a diverse portfolio of companies across multiple continents. Notable transactions include investments in THIS, a London-based alternative meat brand, and Stockeld Dreamery, a Swedish alt-dairy startup aiming to create innovative cheese products. Additionally, Mudcake has invested in Planet A Foods, which is focused on developing cocoa-free chocolate, showcasing their commitment to gourmet food innovation. With three investments in 2024 alone, Mudcake is actively contributing to the growth of the gourmet food and beverage sector.


8. Nordic Foodtech VC


Nordic Foodtech VC is a venture capital firm based in Helsinki, Finland, founded in 2019. The firm specializes in investing in early-stage companies that are pioneering deep foodtech innovations aimed at transforming the food system. Their portfolio includes companies like Chromologics, which raised significant funding to commercialize natural food colorings, and Melt&Marble, which focuses on innovative food products. With a total of 7 investments in 2024 alone, Nordic Foodtech VC is actively supporting startups that prioritize sustainability and health in food technology, making them a key player in the gourmet food and beverage landscape.


9. 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 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. In the gourmet food and beverage context, VNV Global has been involved in several notable transactions, including co-leading a €16.5 million Series A funding round for Collectiv Food, which is recognized as the largest recorded Series A round by a B2B food supply business in Europe. They also invested in Kavall, a Swedish ultrafast grocery delivery startup, which raised significant funding to expand its services. These investments highlight VNV Global's engagement in the food and beverage sector, particularly in innovative delivery and supply solutions.


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 recent years, Heartcore has made notable investments in the gourmet food and beverage sector, including a significant investment in Gourmey, a French cultivated meat startup that raised €48 million in a Series A round, marking a milestone in the cultivated meat industry. Additionally, Heartcore has invested in La Fourche, a company focused on organic and sustainable food, with multiple funding rounds totaling over $15 million in 2023 and 2024. These transactions reflect Heartcore's engagement in innovative food technologies and sustainable food practices, showcasing their relevance in the gourmet food and beverage landscape.


11. 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 significant strides in the gourmet food and beverage industry. Notable transactions include the acquisition of Lagkagehuset, a premium Danish bakery and food service chain, which reported revenues of approximately $102 million in 2016. They also raised funds for Ole & Steen, another esteemed bakery chain, and acquired Greenfood Group, a company focused on healthy food options. These investments reflect Nordic Capital's commitment to driving growth and operational improvements in their portfolio companies, particularly in the gourmet food sector, while maintaining a focus on sustainability and long-term value creation.


12. 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. The firm specializes in supporting early-stage entrepreneurs in building global, category-defining companies across various sectors, including fintech and health tech. In addition to these sectors, Creandum has made significant investments in the food and beverage industry, particularly in companies that enhance food accessibility and delivery. Notable transactions include their investment in Yababa, a Berlin-based grocery delivery service focusing on Turkish and Arabic foods, and Cornershop, which operates in Mexico and Chile, providing fast grocery delivery services. These investments highlight Creandum's commitment to nurturing innovative companies in the food sector, making them a relevant player in the gourmet food and beverage landscape.


13. Verdane

  • Website: verdane.com
  • Type: Private Equity
  • Headquarters: Oslo, Oslo, Norway
  • Founded year: 1985
  • Headcount: 51-200
  • Number of deals in 2024: 7
  • LinkedIn: verdane-capital

Verdane is a private equity investment firm based in Oslo, Norway, founded in 1985. The firm specializes in growth equity investments, particularly in technology-enabled companies, and provides capital and hands-on support to help businesses scale. In recent years, Verdane has made notable investments in the gourmet food and beverage sector, including the acquisition of Purity Soft Drinks Ltd in September 2021, which highlights their interest in the beverage market. Additionally, they have participated in funding rounds for MatHem, a Swedish online grocery store, which connects them to the food industry. These transactions demonstrate Verdane's engagement in the gourmet food and beverage space, alongside their broader focus on digitalization and decarbonization trends.


14. Danish Crown


Danish Crown is a leading meat processing company based in Randers, Denmark, founded in 1887. With over 10,000 employees, the company specializes in the production and sale of high-quality pork and beef products, serving a diverse customer base that includes food retailers and wholesalers. Danish Crown emphasizes food safety and sustainability in its operations. The company has made several strategic acquisitions to strengthen its position in the gourmet food sector, including the acquisition of Sokolow, a leading processed meat products processor in Poland, and Bacon Specialist Zandbergen, which enhances their capabilities in bacon products. Additionally, their acquisition of Leivers Brothers, a foodservice firm, indicates their commitment to expanding their presence in the gourmet food service market. These transactions reflect Danish Crown's focus on quality and innovation in the meat processing industry, aligning with gourmet food standards.


15. Lifeline Ventures


Lifeline Ventures is a venture capital firm based in Helsinki, Uusimaa, Finland, founded in 2009. The firm specializes in early-stage investments in startups, providing financial backing and advisory services to entrepreneurs across various sectors. Lifeline Ventures focuses on supporting resilient founders from the inception of their ventures. Among their notable transactions, they have invested in Sudden Coffee, which raised $2.7 million in a seed round in November 2016 and $500,000 in an angel round in January 2016. Sudden Coffee is known for its innovative approach to gourmet coffee, emphasizing quality and convenience. This investment highlights Lifeline Ventures' engagement in the gourmet food and beverage space, alongside their other investments such as Huuva, a delivery-only kitchens platform, which, while not directly gourmet, indicates their interest in food-related startups.


16. 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 made significant investments in the gourmet food and beverage context, including a $5 million senior loan to Nafoods Group, a Vietnamese food processor, and a $6 million investment in Yalelo Limited, a company involved in aquaculture and food distribution. Additionally, Finnfund participated in a $50 million Series C funding round for Twiga Foods, which connects farmers to markets in Africa, enhancing food distribution and access. These transactions highlight Finnfund's active role in supporting the food industry, particularly in developing regions, thereby contributing to sustainable food systems.


17. Axfood

  • Website: axfood.se
  • Type: Corporate
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 2000
  • Headcount: 10001+
  • Number of deals in 2024: 1
  • LinkedIn: axfood

Axfood Aktiebolag is a prominent grocery retailer and wholesaler based in Stockholm, Sweden, founded in 2000. The company operates well-known supermarket chains, including Willys and Hemköp, and serves both individual consumers and businesses in the food service industry. Axfood is committed to sustainability and quality in its product offerings, providing accessible grocery shopping options both in-store and online. In recent years, Axfood has made strategic acquisitions to bolster its position in the food market. Notably, in 2024, they acquired 90.1% of City Gross Sverige AB, enhancing their competitiveness in the hypermarket segment. Additionally, their acquisition of Middagsfrid, a meal pack provider, reflects their focus on quality food offerings and catering to the growing demand for convenient meal solutions. Furthermore, Axfood's participation in funding rounds for online grocers like MatHem demonstrates their interest in expanding their reach in the gourmet food and beverage sector.


18. 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. In recent years, Novax has made significant investments in the gourmet food and beverage sector, acquiring MSK Ingredients, a UK leader in specialty ingredients for the food industry, and Louis François SAS, a French developer of specialty functional ingredients. These acquisitions aim to enhance their portfolio in food ingredient innovation, emphasizing sustainability and quality. Additionally, Novax participated in a funding round for Prolupin, a company specializing in plant-based proteins, further showcasing their commitment to the evolving food landscape. Through these strategic investments, Novax aims to foster growth and innovation within the gourmet food sector.


19. 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 focuses on enhancing operational efficiency and sustainable growth for its partners through tailored investment strategies and digital transformation solutions. Altor has made significant investments in various sectors, including technology and consumer products. Notably, they acquired Euro Cater in December 2006, which operates in the food service industry, and took a minority stake in O'Learys Holding AB in March 2018, a leading sports-themed restaurant chain in Europe with substantial revenue. Additionally, Altor's investment in Nova Austral, a company involved in the seafood sector, further demonstrates their engagement in the food and beverage industry. These transactions highlight Altor's active role in the gourmet food and beverage market, making them a relevant investor in this category.



Gourmet Food and Beverage Insights: Key Investors in the Nordics


InvestorHeadquarterSizeFoundedDeals 2024
EQT GroupStockholm, Stockholm, Sweden1001-5000199430
Orkla ASAOslo, Oslo, Norway10001+20171
Carlsberg GroupGrimstad, Agder, Norway10001+18472
Kale UnitedStockholm, Stockholm, Sweden1-1020182
AlmiStockholm, Stockholm, Sweden201-50019947
KatapultOslo, Oslo, Norway11-5020178
MudcakeStockholm, Stockholm, Sweden1-1020203
Nordic Foodtech VCHelsinki, Uusimaa, Finland1-1020197
VNV Global ABStockholm, Stockholm, Sweden1-1019961
Heartcore CapitalCopenhagen, Denmark11-50200717
Nordic CapitalStockholm, Stockholm, Sweden201-500198910
CreandumStockholm, Stockholm, Sweden11-50200317
VerdaneOslo, Oslo, Norway51-20019857
Danish CrownRanders, Denmark10001+18870
Lifeline VenturesHelsinki, Uusimaa, Finland1-10200914
FinnfundHelsinki, Uusimaa, Finland51-20019807
AxfoodStockholm, Stockholm, Sweden10001+20001
NovaxStockholm, Stockholm, Sweden11-5019993
Altor Equity PartnersStockholm, Stockholm, Sweden51-20020036


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