The initial funding round secured nearly €40 million, and the firm aspires to reach a final fund size ranging from €60 million to €100 million.
Helsinki-based venture capital firm Greencode Ventures has marked a significant milestone with the first close of its fund dedicated to propelling European startups driving the green transition. The initial funding round secured nearly €40 million, and the firm aspires to reach a final fund size ranging from €60 million to €100 million.
Established in late 2022 by Dr. Terhi Vapola and Kaisa Hietala, Greencode Ventures is distinctively positioned to address the gender imbalance in the venture capital landscape, given its female-led and founded status.
The capital injection has already yielded strategic moves, as Greencode Ventures participated in the Series A funding round of carbon removal marketplace Supercritical, which secured $13 million in June this year.
Key supporters of Greencode Ventures include prominent entities such as Business Finland Venture Capital, Nordea Life Assurance Finland, Pohjola Insurance, and OP Life Assurance Company. Distinguished figures like Sari Baldauf, Chair of Nokia’s board of directors, and Mika Anttonen, majority owner of energy company St1, have also joined the firm’s advisory board.
Petri Serenius, Investment Director of Business Finland Venture Capital, lauded the launch of Greencode’s fund, highlighting its crucial role in fostering promising early-stage climate tech firms across Finland and Europe. Serenius emphasized the fund’s potential to create substantial value for portfolio companies and commended Greencode’s experienced team.
The launch of Greencode Ventures’ fund underscores the rising significance of sustainable technology startups in the global investment landscape. As the green transition gains momentum, this venture capital initiative is poised to catalyze innovation, accelerate eco-friendly solutions, and contribute to the larger mission of combatting climate change.
A venture capital firm called Greencode Ventures helps entrepreneurs create lucrative businesses while having a good influence on the environment and society.
They think startups and small teams may develop novel solutions, but well-established companies are essential as clients or market enhancers. Greencode Ventures accelerates go-to-market and scalability by utilizing their business expertise and corporate worldwide network.