Maki.vc Raises €100 Million to Fuel Deep Tech and Sustainable Projects in Nordics

Finnish venture capital firm Maki.vc has launched its third fund, securing €100 million to invest in pre-seed and seed-stage startups across the Nordics and Northern Europe. This new fund, categorized as an Article 8 (light green) fund, emphasizes environmental and social considerations alongside financial returns, aligning with Maki.vc’s focus on fostering positive societal impact through its investments.

The fund boasts the backing of over 50 experienced limited partners, including founders of prominent tech companies like Skype, Wise, and Supercell. This network brings valuable expertise in scaling and commercializing technology startups.

Maki.vc prioritizes the Nordic region due to its strong public investment landscape, deep tech expertise, and track record for launching successful startups. The firm has already made its first investments from the new fund, including Distance Technologies (glasses-free mixed reality), QMill (quantum algorithms for industry), and Ever Cars (online electric vehicle marketplace).

Founded in 2018, Maki.vc specializes in deep tech and brand-driven companies. They favor ventures demonstrating scientific advancements, strong intellectual property, and a deep understanding of customer needs. Typically, Maki.vc invests between €300,000 and €3 million in pre-seed or seed-stage companies, allocating two-thirds of the new fund for follow-on investments to support the ongoing growth of their portfolio companies.

Maki.vc’s track record includes successful exits like Spinnova (sustainable textile producer) and Ultimate (customer support automation platform) alongside ongoing investments in companies like IQM (quantum tech), Onego Bio (animal-free egg whites), Strise (AI-driven AML platform), and CardioSignal (smartphone-based heart disease detection).

“The Nordics represent one of the most significant startup funding regions in Europe, and we believe that investment opportunities here are greater than ever. This unique ecosystem blends cutting-edge R&D, strong industry collaborations, deep tech expertise, and a proven track record of entrepreneurial success, making it the ideal launchpad for tech companies to achieve meaningful global impact,” said Maki.vc’s Partner Pauliina Martikainen.

Maki.vc goes beyond traditional VC models by integrating ESG principles into its investment approach. Their 2023 Sustainability Report highlights a commitment to diversity, with 35% of their portfolio led by female founders. Additionally, they champion ethical business practices by promoting mental health initiatives, ESG discussions, and cultural inclusion within their portfolio companies.

This focus on sustainability aligns with the growing number of impactful startups operating in sectors like healthcare and quantum computing. By combining financial support with ethical considerations, Maki.vc aims to not only elevate Nordic startup standards but also foster responsible and sustainable growth in the region.