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Status
ACTIVE
Global HQ
Stockholm, Sweden
Countries of investment
  • Sweden
  • Denmark
  • Finland
  • Netherlands
  • United Kingdom
Investment stages
  • Pre-Seed
  • Seed
Industries
  • FoodTech
  • Alternative Proteins
  • Food Science
  • Planetary Health
  • Regenerative Solutions
About
Mudcake is a Stockholm-based pre-seed and seed venture firm backing foodtech and planetary health startups. Their thesis spans alternative proteins, food science, and regenerative solutions. The firm invests across the Nordics and Europe with a science-led, mission-driven orientation.
Min check size
$500K
Max check size
$5M
Fund size
NPS

Investment Thesis

Mudcake is an early-stage venture capital firm investing in founders building the future of food, health, and planetary wellbeing. They back pre-seed and seed companies with bold, science-based approaches to transforming food systems. The firm differentiates itself through its Nordic roots, mission-driven approach, and focus on deeply technical founders.
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Co Invest
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Manager's Experience

Co-Founders and General Partners Erik Byrenius and Anna Ottosson launched Mudcake in 2020 (originally named Trellis Road) as a Stockholm-based pre-seed specialist for foodtech and agtech. Byrenius brings serial entrepreneurship experience having co-founded and exited multiple Swedish consumer technology companies, while Ottosson contributes deep sustainability and food industry networks across Scandinavia. Managing an €18M fund with 48 investments, the team executes a distinctive first-check strategy targeting the earliest viable commercial stage, with portfolio companies including Agteria Biotech, Melt&Marble, and Nutropy, reflecting a thesis of backing scientific founders solving planetary health challenges.

Team

Erik Byrenius – Co-Founder / General Partner

Anna Ottosson – Co-Founder / General Partner

Portfolio

Nutropy

Messium

Koppie

Melt&Marble

Agteria Biotech

hexafarms

OlsAro

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