PINC Research
Investment Thesis
PINC is the corporate venture capital arm of Paulig, the family-owned Finnish food and beverage group founded in 1876. It launched in 2018 as Paulig Incubator and has since become a corporate venture arm. Its stated aim is strategic, financial and societal impact, building a more sustainable food system. It looks for startups that help the planet be tastier, healthier and more sustainable, with a strategic link back to Paulig preferred.
The firm invests across the agrifood value chain in three impact themes:
- Improving planetary health and diet within the current food system: crop breeding, green fertilizers, new ingredients, next-generation healthy foods, and tools for tracking climate and nature.
- Novel technologies to feed 10 billion people by 2050: precision fermentation and cell cultivation, food production without land use change.
- A circular system for food and materials: upcycled ingredients, food from unused sources, new coatings and packaging, and side-stream valorisation.
Stage Focus
Pre-seed and seed. Third-party profiles sometimes cite a wider range up to Series A, but the firm's own page says pre-seed and seed only.
Check Size
Entry ticket of EUR 200K to EUR 1M, per the firm's investment criteria.
Lead Tendency
Flexible. PINC says it acts as co-investor, co-lead or lead depending on the strategic link, and prefers building strong syndicates. It led the EUR 2.73M round in BlueRedGold (June 2025), co-led the EUR 2.6M round in Cotierra (September 2026) with Carbon Removal Partners, and joined rounds in Scindo (co-led by Kadmos Capital and Clay Capital) and Mycoverse.
Recent Activity
- September 2026: co-led a EUR 2.6M round in Cotierra, a Zurich-based decentralised biochar company, starting with coffee supply chains.
- March 2026: joined a EUR 2.4M pre-seed round in Mycoverse, a Danish agri-biotech startup using AI and fungal biology for crop protection.
- September 2025: joined a GBP 4M round in Scindo for bio-based sustainable ingredients.
- June 2025: led a EUR 2.73M round in BlueRedGold, a Swedish agritech company automating saffron production.
PINC is an evergreen fund with no fixed exit horizon, so it can hold alongside the startup and co-investors. Fund size and AUM are not disclosed.
Portfolio Highlights
The portfolio is mostly European food, agri and materials startups: Scindo, BlueRedGold, Rainbow Crops, Elaniti, Glenntex, OlsAro, Amatera, Improvin, WinWin, Evodia Bio, For Real Foods, Melt & Marble, Kaffe Bueno, Mycoverse and Cotierra. No exits are listed on the site.
Team
- Marika King, Head of PINC. Has led PINC since 2018; previously worked in business development for smaller growth companies and was a CEO and stakeholder of other companies.
- Karl Swensson, Investment Director.
- Rosemari Herrero, Senior Investment Manager.
Decision Process
Small in-house team inside a corporate parent. Press describes the unit as designed to move fast and operate independently from Paulig. Founders get a direct line to the team; the firm says it does not string founders along.
Founder Preferences
Entrepreneurs in an attractive market with an intrinsic drive to solve the problem, a clear and scalable plan, a complementary team, and partners PINC can trust and work closely with. The firm is hands-on and takes board roles where useful.
What PINC Offers
Beyond capital: a Nordic and European network of investors and innovation enablers, plus access through Paulig to consumer insights, brand and product development expertise, and a large European sales and distribution network (brands include Santa Maria, Paulig, Conimex, Poco Loco and Zanuy).
Geographic Focus
The Nordics and Europe. Portfolio companies are based in Finland, Sweden, Denmark, Switzerland, the UK and elsewhere in Europe.