Greencode Ventures

Greencode Ventures is a digital-first green transition venture capital firm based in Helsinki, Finland, with operating hubs also in Germany and Sweden. The firm is dedicated to accelerating the green transition by investing in early-stage digital solutions across Europe, specifically from seed to Series A+ rounds. Their investment thesis centers on software solutions that significantly reduce emissions, save resources, and add value across key sectors. These include Green Energy (transition to clean energy in digital and interconnected systems), Green Mobility (shift towards electrification and accelerated accessibility via software), Green Industries (digital solutions for resource and manufacturing efficiencies and circular economy), and Green Cities (improved construction, waste reduction, energy savings, and material recycling for carbon-neutral buildings).

Founded in 2022 by industrial transformist Kaisa Hietala and green energy venture capitalists Terhi Vapola and Ines Bergmann-Nolting, alongside entrepreneurs Manuel Heckmann and Karin Henriksson, Greencode Ventures aims to support impactful digital solutions within this decade. The firm emphasizes a systemic approach to the green transition, recognizing its complexity beyond just CO2 reduction. They also highlight their commitment to addressing the underrepresentation of women-founded teams in the VC landscape, being a female-led firm.

Greencode Ventures has made several notable investments in companies driving the green transition. Their portfolio includes Groundhawk, an AI-powered 3D mapping platform for underground utilities. They have also invested in Cronvall, a digital B2B procurement platform transforming industrial buying and supplying. Other investments include Supercritical, a carbon-removal marketplace, Sustashift, which provides software for corporate sustainability reporting, Keto Software for portfolio management, Synergi for electricity management software, Southern Lights for clean energy sector software utilizing AI, LiveEO for earth observation data and geolocation services, Lumoview for building analytics, and Renow, focused on re-commerce solutions. The firm also has an interest in green data centers.

The Greencode Ventures team comprises a diverse group of serial founders and investors with a proven track record in green technology and digitalization. Managing Partner Terhi Vapola brings extensive experience in greentech and digitalization investments, while Kaisa Hietala, Founder & Chair, is recognized for her role in Neste's transformation into a leading renewable products producer. Ines Bergmann-Nolting, also a Managing Partner, has significant expertise in energy, cleantech, and venture capital, particularly in shaping E.ON SE's venture capital efforts. The team leverages its deep industry knowledge and global corporate network to accelerate go-to-market strategies and foster rapid scalability for its portfolio companies. The advisory board includes prominent figures like Sari Baldauf, Chairwoman of Nokia, and Mika Anttonen, majority owner of energy company St1.