Greencode Ventures
Greencode Ventures is a Helsinki-based European venture capital firm managing a €70 million SFDR Article 9 fund that invests Seed to Series A (tickets up to €5 million) in applied AI startups driving the green transition across energy, industry, and infrastructure.
- Company typePrivate
- Founded2022
- HeadquartersHelsinki, Finland
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Greencode Ventures does
Greencode Ventures is a Helsinki-headquartered European venture capital firm that backs early-stage startups applying artificial intelligence to the green transition across three sectors: energy systems, industrial operations, and critical infrastructure. Founded in 2022 by energy and sustainability veterans Kaisa Hietala, Terhi Vapola, and Ines Bergmann-Nolting, the firm operates from offices in seven European markets (Helsinki, Essen, Munich, London, Dublin, Geneva, Stockholm) and targets Seed through Series A rounds with individual tickets of up to €5 million in companies based primarily in Europe and Israel. The portfolio of 14+ companies spans satellite-based infrastructure monitoring (LiveEO, Ubotica), carbon removal marketplaces (Supercritical), EV charging software (eMabler, FlexeCharge), industrial procurement and recommerce (Cronvall, Renow), and sustainability reporting (Sustashift), among others.
The firm offers a single investment vehicle, the SFDR Article 9-classified Greencode I Ky fund, which closed at €70 million (after a €40 million first close in 2023 and final close in 2025) and commits at least 90% of investments to sustainable activities (60% direct climate, 30% societal impact) with at least 50% aligned to the EU Taxonomy. The fund manager entity is Greencode Ventures Oy, a Finnish private limited company that acts as general partner; the firm is privately held by its founding partners with no disclosed parent ownership.
Greencode's revenue model follows standard European VC mechanics: recurring management fees on committed capital during the investment period (and on NAV thereafter) plus performance-based carried interest on successful exits. Distribution is direct to founders through warm introductions, founder networks, and active industry engagement, while LP acquisition is supported by annual Impact Reports, industry event presence, and earned media. The firm has not yet disclosed realized exits, and there are no disclosed acquisitions, product launches, or restructuring events.
Greencode Ventures firmographics
Firmographics- Name
- Greencode Ventures
- Legal name
- Greencode Ventures Oy
- Website
- https://greencode.vc
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Greencode Ventures is a Helsinki-based European venture capital firm managing a €70 million SFDR Article 9 fund that invests Seed to Series A (tickets up to €5 million) in applied AI startups driving the green transition across energy, industry, and infrastructure.
- Ownership category
- akta.pro rank
Greencode Ventures industry classification
Industry- Product category
- Climate Tech Venture Capital
- NAICS
- Other Investment Pools and Funds (5259), Funds, Trusts, and Other Financial Vehicles (525)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Micro-VC & Angel Funds (FSANAAAI)
- akta.pro secondary industry
- SDG / Thematic Sustainable Investment Funds (FSANAJAN)
Keywords
Where Greencode Ventures is headquartered
LocationHeadquarters
- HQ city
- Helsinki
- HQ country
- Finland
- HQ region
- Europe
Offices7 records
Markets served
Greencode Ventures business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Management Fees: VC fund management fees typically charged on committed capital during investment period and NAV thereafter
- Carried Interest: Performance-based carried interest on successful portfolio company exits, typically 20% above hurdle rate
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Seed investments: €500K to €2M initial tickets |
| Other | Multi-year contract | Series A investments: €2M to €5M |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels5 records
Greencode Ventures product offering
Product offeringCore offering
Greencode Ventures is a specialist early-stage venture capital firm that invests Seed through Series A tickets of up to €5 million into European applied AI startups addressing the green transition across energy, industry and infrastructure. The firm is registered as an SFDR Article 9 fund and provides portfolio companies with capital, strategic guidance and industry network access in addition to fund management services to limited partners.
Product overview
Greencode Ventures operates as a specialist venture capital firm providing fund management and investment services to climate tech founders across Europe. The firm offers a single unified fund vehicle (Greencode I Ky) targeting Seed to Series A stage companies building applied AI solutions for energy systems, industrial operations, and critical infrastructure. The investment approach covers three sectors: Energy (optimizing existing systems, enabling flexibility and sustainable output), Industry (improving yield, quality, and circularity through intelligence), and Infrastructure (building, monitoring, and maintaining critical assets with resilience). The fund is SFDR Article 9 classified with sustainable investment as its core objective.
Differentiator
Problem solved
Functional benefit
Products and services
- Greencode Ventures Fund I SFDR Article 9-classified venture capital fund investing Seed to Series A in European applied AI startups across energy, industry and infrastructure, with tickets up to €5 million per company. Limited partners commit capital to the fund vehicle Greencode I Ky, managed by Greencode Ventures Oy as general partner.
Quantifiable outcome
- Net impact ratio above zero across portfolio investments (reported in 2023)
- +2 more outcomes
Companies that use Greencode Ventures
Customer profileNamed customers14 records
Segments3 records
Ideal customer profiles2 records
Greencode Ventures technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
Greencode Ventures partnerships and signals
Strategic signalScale indicators6 records
Recent moves6 records
Expansion highlights6 records
Greencode Ventures competitors and assessment
Company assessmentDirect peers
- World Fund: Berlin-based European climate-tech VC investing in early-stage startups decarbonising major industries. Directly comparable in geography, stage (Seed/Series A), thematic focus, and SFDR-style sustainable investment mandate.
- 2150: Copenhagen-based VC investing in urban-tech and climate-tech startups across Europe. Comparable in stage, climate thesis, and pan-European deal sourcing, with a similar focus on built environment and infrastructure.
- Pale Blue Dot: European early-stage climate-tech fund backing founders tackling the climate crisis. Closely comparable in stage, sector focus, and European geographic mandate.
- ETF Partners: European sustainability-focused growth investor in resource efficiency and clean technology. Comparable in sustainable investment mandate and European focus, though generally invests at later stages than Greencode.
- Kiko Ventures: UK-based climate-tech VC backing early-stage founders decarbonising energy, food, and industry. Comparable in climate-thematic focus, early stage, and European base, with similar ticket sizes.
- Extantia Capital: Berlin-based climate-tech VC backing deep-tech solutions for decarbonisation. Directly comparable in European focus, climate-tech thesis, and early-stage mandate.
- Contrarian Ventures: Lithuanian/European climate-tech VC backing early-stage founders. Closely comparable in European focus, climate thesis, and early-stage mandate, with overlap in the energy-transition sub-vertical.
Broad incumbents
- Energy Impact Partners: US/global energy and decarbonisation-focused VC with a large LP base of utilities and corporates. Broader and better-capitalized incumbent operating in the same climate/energy investing space, with a global mandate.
- Lowercarbon Capital: US-based climate-tech VC backing companies that reduce CO2. Comparable thematic focus and stage, but with substantially larger fund sizes and US-centric deal flow.
- Breakthrough Energy Ventures: Bill Gates-backed climate-tech fund with very large fund sizes and global mandate. Operates in the same climate-investing category but at meaningfully greater scale and broader geographic scope.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Greencode Ventures social profiles
Digital presenceGreencode Ventures compliance and trust
Trust signalCompliance1 record
Greencode Ventures financial estimates
Financial estimateRevenue estimate
Valuation estimate
Greencode Ventures leadership team
Management profileNumber of profiles
Profiles11 records
Greencode Ventures funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Greencode Ventures M&A and investment
M&A and investmentM&A
Investments18 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Greencode Ventures
What does Greencode Ventures do?
Greencode Ventures is a specialist early-stage venture capital firm that invests Seed through Series A tickets of up to €5 million into European applied AI startups addressing the green transition across energy, industry and infrastructure. The firm is registered as an SFDR Article 9 fund and provides portfolio companies with capital, strategic guidance and industry network access in addition to fund management services to limited partners.
Is Greencode Ventures a public or private company?
Greencode Ventures is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Greencode Ventures founded?
Greencode Ventures was founded in 2022. It employs 1 to 10 people.
Where is Greencode Ventures based?
Greencode Ventures is headquartered in Helsinki, Finland, in the Europe region.
How does Greencode Ventures make money?
Two revenue lines are on record. Management Fees are the primary driver. The others are carried Interest.
Who are Greencode Ventures's main competitors?
Direct peers on record are World Fund, 2150, Pale Blue Dot, ETF Partners, Kiko Ventures, Extantia Capital and Contrarian Ventures. Broad incumbents are Energy Impact Partners, Lowercarbon Capital and Breakthrough Energy Ventures.
Does Greencode Ventures have an API?
No public API is recorded for Greencode Ventures.
What industry is Greencode Ventures in?
Greencode Ventures's product category is Climate Tech Venture Capital. Its primary akta.pro industry code is FSANAAAI, Micro-VC & Angel Funds, with a secondary code of FSANAJAN, SDG / Thematic Sustainable Investment Funds. Its NAICS code is 5259 and its SIC code is 6282.