Maki.vc to Close €100M Fund Focused on Sustainability & Deep Tech

Maki.vc Approaching Final Close of €100 Million Second Fund

Maki.vc, a venture capital firm headquartered in Helsinki, is nearing the completion of its second fundraise, targeting €100 million. The fund will be dedicated to investments in early-stage, or seed-stage, startups throughout Europe.

Initial Investments from the New Fund

Several companies have already received funding from this new vehicle. These include Baseimmune, a U.K.-based firm specializing in antigen discovery and vaccine design. Additionally, Volare, a company in the food technology sector, and PixieRay, which develops adaptive eyeglasses, have been included in the initial investments.

Investment Range and Previous Portfolio

Maki.vc typically provides initial investments ranging from €250,000 to €3 million. Their first fund, totaling €80 million, saw investments in notable companies like Spinnova, a producer of sustainable textile fibers. Other portfolio companies include IQM, a quantum computing team, and CarbonCloud, a partner of Oatly focused on carbon labeling.

Founding Partner’s Vision

According to Ilkka Kivimäki, a founding partner at Maki.vc, the firm prioritizes exceptional founders. He stated that they seek individuals who demonstrate a relentless drive to tackle global challenges through innovative and unconventional approaches.

Fund Deployment and Current Status

In a recent interview, Kivimäki revealed that the new fund has already made 77 investments. This indicates a rapid and active deployment of capital since the fund’s inception.

Strategic Continuity

When questioned about potential shifts in investment strategy, Kivimäki emphasized a high degree of continuity. The firm continues to focus on sustainability, encompassing new materials and processes, including advancements within the food technology landscape.

He further clarified that Maki.vc remains committed to investing in hardware and complex technologies. Their early investment in IQM, a quantum computing company, and Spinnova, a producer of yarn from wood fibers, exemplify this commitment.

Limited Partner Support

The new fund benefits from the support of over 70 Limited Partners (LPs). These include successful exited entrepreneurs and experienced corporate executives. Notable LPs include Taavet Hinrikus, co-founder of Wise, and Sten Tamkivi, co-founder of Teleport.

Further backing comes from Ilkka Paananen, co-founder and 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, and Petri Järvilehto, CEO & co-founder of Seriously.