Helsinki’s Maki.vc Poised to Close Fund at €100 Million, Focusing on Sustainability and Deep Tech Investments

Introduction

Maki.vc, a Helsinki-based venture capital firm, is on the cusp of reaching the final close of its second fund at an impressive €100 million. The firm’s aim is to invest in seed-stage startups across Europe, leveraging its expertise and network to identify and support the most promising companies.

Initial Investments from the New Fund

The first investments from the new fund include:

• Baseimmune: A UK-based company focused on antigen discovery and vaccine design.
• Volare: A food tech startup that aims to revolutionize the way we produce and consume food.
• PixieRay: A pioneering company developing adaptive eyeglasses that are changing the face of vision correction.

Maki.vc’s initial ticket sizes range from €250,000 to €3 million, indicating a commitment to supporting early-stage companies with significant growth potential.

First Fund’s Notable Investments

The VC’s first €80 million fund invested in several notable companies, including:

• Spinnova: A sustainable textile fiber producer that is transforming the fashion industry.
• IQM: A quantum computing team pushing the boundaries of innovation and technology.
• CarbonCloud: Oatly’s partner for carbon labeling, working to reduce the environmental impact of food production.

Founding Partner Ilkka Kivimäki on Maki.vc’s Investment Strategy

In a statement, Maki.vc’s founding partner Ilkka Kivimäki highlighted the firm’s focus on deep tech and brand-driven companies:

"Within the deep tech and brand-driven focus, we have no industry or geographical restrictions, but instead we look for relentless founders. Common to the most advanced technologies and most captivating brands is their ability to approach the world’s greatest challenges in unconventional ways."

Interview with TechCrunch

In an interview with TechCrunch, Kivimäki emphasized that Maki.vc’s strategy remains unchanged:

"Actually, very little… We were already talking about the sustainability aspect. I think that that is going to many more new materials, new processes, including all of the food tech stuff. And we are definitely not shying away from hardware and complex things."

The VC has already made 77 investments in the new fund, indicating a strong pipeline of opportunities.

LPs Backing Maki.vc’s Second Fund

Maki.vc’s second fund is backed by over 70 limited partners (LPs) composed of exited entrepreneurs and corporate executives. Notable LPs include:

• Taavet Hinrikus: Co-founder of Wise
• Sten Tamkivi: Co-founder of Teleport
• Ilkka Paananen: Co-founder & CEO of Supercell
• Oskari Petas and Mika Matikainen: Co-founders of Wolt
• Timo Soininen: Chair of the board at Small Giant Games
• Marjo Miettinen: Chair of the board at Ensto
• Petri Järvilehto: CEO & co-founder of Seriously

Conclusion

Maki.vc’s second fund is a testament to the firm’s commitment to supporting innovative startups across Europe. With its experienced team and strong network, Maki.vc is poised to make a significant impact in the startup ecosystem.

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