Climate Insider Brief:
- Helsinki-based Maki.vc has introduced its third fund, an Article 8 “light green” fund dedicated to supporting early-stage startups in the Nordics that prioritize environmental and societal objectives.
- Already, Maki.vc has invested in three innovative startups—Distance Technologies (mixed reality), QMill (quantum computing), and Ever Cars (EV marketplace)—demonstrating its focus on tech with meaningful global impact.
- Known for its sustainability efforts, Maki.vc maintains a diverse portfolio with 35% female-led companies and promotes governance practices, positioning itself as a leader in ESG-conscious venture capital.
Helsinki, Finland — Helsinki-based venture capital firm Maki.vc has unveiled its third fund, a €100 million Article 8 “light green” fund that promotes environmental, social, and governance (ESG) characteristics. This fund aligns with Maki.vc’s focus on backing startups that drive environmental and societal progress, tapping into the Nordic region’s burgeoning tech and sustainability ecosystem.
Maki.vc’s new fund is supported by over 50 limited partners, including notable tech founders from companies such as Skype, Wise, RELEX Solutions, WithSecure, Aiven, and Supercell. With deep experience in scaling tech ventures, these investors bring both capital and valuable insights to Maki.vc’s portfolio of early-stage companies.
The firm has already invested in three standout startups from its third fund:
- Distance Technologies: A Finnish company pioneering glasses-free mixed-reality, founded by former Varjo team members.
- QMill: A quantum computing company developing industrial applications, led by Nokia Technologies’ former CTO and IQM Co-founder.
- Ever Cars: An online marketplace focused on electric vehicles, founded by a team with backgrounds from Stanford, Uber, Morgan Stanley, and BCG.
Backing the Next Generation of Nordic Innovators
Founded in 2018, Maki.vc invests in deep tech and brand-driven startups at the pre-seed and seed stages. Led by partners Ilkka Kivimäki, Pauliina Martikainen-Rahnu, Pirkka Palomäki, and Paavo Räisänen, Maki.vc targets sectors where scientific advances and strong intellectual property intersect with deep customer insights. This fund emphasizes Nordic startups, capitalizing on the region’s R&D strengths, supportive public funding, and growing startup ecosystem.
According to partner Pauliina Martikainen, “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.”
Transforming Venture Capital with ESG-Driven Investments
Maki.vc has set itself apart in the Nordic VC landscape by embedding ESG principles across its investments. The firm’s 2023 Sustainability Report highlights that 35% of its portfolio companies are led by female founders, a notable achievement given the industry average. The firm also emphasizes governance, promoting mental health policies, ESG discussions, and cultural inclusion within its portfolio.
Maki.vc’s earlier funds have backed several successful companies, including:
- Spinnova: A sustainable textile producer that went public in 2021.
- Ultimate: A customer support automation platform acquired by Zendesk.
- IQM: A leading European quantum tech company focused on climate solutions.
- Onego Bio: A biotech company creating animal-free egg whites.
- Enfuce: A cloud-based payment solutions provider.
By aligning financial returns with ethical growth, Maki.vc is helping shape a more sustainable future for Nordic tech startups while supporting the development of breakthrough solutions in health tech, quantum computing, and sustainability-driven industries.
Source: Tech Funding News
Featured Image: Credit: Maki vc
