How many investments has Nicoya made?

Nicoya has 28 tracked investments, 1 of which have exited.

What stage does Nicoya invest at?

Nicoya invests at the Seed, Series A stages.

What sectors does Nicoya focus on?

Nicoya focuses on AgTech, Consumer, FoodTech.

Where is Nicoya located?

Nicoya is headquartered in Stockholm, SE.

Does Nicoya lead rounds?

Nicoya has led 4 of the 5 rounds where its role is on record.

Who does Nicoya co-invest with?

Nicoya most often shares deals with Cherry Ventures, Raiven, Seedcamp, among 9 tracked co-investors.

Nicoya

Venture capital

Stockholm · Seed–Series A · 9 people tracked

Also known as Roger Teran

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Investment thesis

Nicoya invests at the intersection of health, innovation, and food system transformation, where consumer demand and production capabilities converge to reshape value creation in food. It pursues a dual strategy across demand and supply: on the demand side, it builds and scales category-defining future food brands that turn health science into products consumers choose, driving repeat purchase, premium positioning, and margin expansion. On the supply side, it invests in production technologies, ingredients, and food infrastructure that redefine how food is made, enabling scalable, cost-efficient manufacturing and stronger unit economics. The firm aims to capture compounding value from the full transformation of the global food system.

Invests inAgTech Consumer FoodTech Europe Finland Global Stockholm Sweden United Kingdom United States

Source: firm website, verified Aug 3, 2026.

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Stage

Seed–Series A

Stockholm, SE

Instruments

Equity

Founded

2017

Tracked investments

Acquisitions

Team · 9 people

from the firm's website & public directories

Carolin Janmark· co-founder & COO· Greater Stockholm Metropolitan Areain

carolin.janmark@nicoya.se

Christopher Slim· Co-founder & CEO· Stockholm County, Swedenin

christopher.slim@nicoya.se

David Karlsson· Co-founder & CIO· Stockholm, Stockholm County, Swedenin

David Karlsson is Chief Investment Officer at Nicoya. He has held roles in capital markets, fundraising, investment management, senior management, and private banking, with experience sourcing and executing investments across private equity, venture capital, and public and private equities. He serves as a board member for listed and private companies.

david.karlsson@nicoya.se

Fredrik Arvius· co-founder & Brand and Commercial Lead· Stockholm County, Swedenin

fredrik.arvius@nicoya.se

Anders Svensson· External Board Member· Swedenin

Helena Hernander· External Board Member· Greater Stockholm Metropolitan Areain

Kees Kruythoff· External Board Member· Utrecht Areain

Kees Kruythoff is a business executive with 27 years at Unilever, where he served as President of North America and President of the Global Home Care division as a member of the global executive team. Following his departure from Unilever in 2019, he co-founded IMAGINE.one, a for-benefit organization focused on climate and inequality, and served as chairman and CEO of LIVEKINDLY Collective, a plant-based food company comprising multiple brands. He currently serves as Thematic Chair for Sustainable Foods at Summa Equity, invests in food technology startups through Nicoya and Bain Capital, and holds board positions including chairman of MrGreenAfrica and board member of RCL Foods.

kees.kruythoff@nicoya.se

Lisa Ejerhed· CFOin

lisa.ejerhed@nicoya.se

Lisa Gunnarsson· CFOin

lisa.gunnarsson@nicoya.se

Founder mafia

2 people who came through Nicoya went on to found or lead other companies.

Fredrik Arviusco-founder & Brand and Commercial LeadFounded InsightMe Kees KruythoffExternal Board MemberFounded LIVEKINDLY Collective

What they invest in

from 24 of 28 portfolio companies

FoodTech ×9Consumer ×8SaaS ×8Fintech ×7Enterprise Software ×5Direct to Consumer ×4E-commerce ×4AI & Machine Learning ×3

HQs:Mexico×5United States×4Chile×3Sweden×3Brazil×1Canada×1

Investments · 28 tracked

founders shown can be your intro path

By year:2022 · 4 2021 · 15 dated

Alimaalima.la in 𝕏SeedDefunct

Alima provides supply chain software for businesses in Latin America to purchase fresh goods, managing order planning, transactions, cost tracking, and delivery logistics.

Enterprise SoftwareLogistics & Supply ChainMexico City, MX

Jorge Vizcayno(Founder)in Blanca Espinosa(Founder)in Jorge Moreno Sanchez Briseno(Founder)inAugustin Augier(Founder)Jorge Vizcayno Blanca Espinosa(Founder)

Co-investorsDorm Room Y Combinator Pareto Holdings Seed9 Soma Capital

BelozFibeloz.com.mx inSeed

A lending platform operating in Mexico that provides loans to consumers, incorporating AI technology into its credit and operations infrastructure.

FintechMexico City, MX

Debashish Bhadra(Founder)in Gianfranco Gentille(Founder)inEduardo Lopez Amaya(CTO)

Co-investorsY Combinator Gluwa Innogen Capital Ventures Latitud Ventures Liquid Ventures Measured +7 more

Boom AIuseboom.ai inSeed

Boom is an AI customer service platform that automates customer interactions across collections, retention, onboarding, and sales.

AI & Machine LearningE-commerceEnterprise SoftwareSaaSSan Francisco, US

Juan Casian(CEO)in Sergio Garcia(Founder)in Jose Toscano(CTO)in

Co-investorsY Combinator Blast.Club Gonzalez y Navarro Hi Ventures Matrix Platanus Ventures +3 more

Carddacardda.com in 𝕏Seed

Cardda provides corporate spend management through virtual and physical cards, automated payments, and real-time expense visibility for businesses across industries.

Enterprise SoftwareFintechSaaSSantiago, CL

Cristóbal Grinbergs(Founder)in Sebastián Hernández(Founder)in

Co-investorsY Combinator Platanus Ventures

castiacastia.com inSeedDefunct

A rent payment platform serving Latin American tenants and landlords that provides rewards, flexible payment options, credit-building features, and savings programs tied to housing payments.

FintechPropTechBogotá, CO

Mauricio Peñaranda(Founder)in Nicolas Penaranda(Founder)in Eduardo Restrepo(Founder)in

Co-investorsINCA VENTURES MetaProp Ventures Quona Capital Y Combinator Accion Asymmetry Ventures +8 more

Contalinkcontalink.com in 𝕏Seed

Contalink is a cloud-based accounting automation platform that helps accounting firms automate repetitive tasks such as CFDI downloads, financial report generation, and tax filing submissions to Mexico's SAT.

Enterprise SoftwareFintechSaaSMonterrey, MX

Eduardo Williams(Founder)in Carlos Salinas(Founder)inEduardo Williams Hinojosa(Cofundador y director general)

Co-investors500 Global Finnovista VC FoundersX Ventures Noveus Capital Scribble Ventures Soma Capital +11 more

El Taco Truckeltacotruck.se in

El Taco Truck is a Swedish food brand that sells Mexican-style food products, including vegan options, through retailers and its own online store.

ConsumerE-commerceFoodTech

Farmersandchefsfarmersandchefs.se in

Farmers & Chefs develops plant-based cooking products made from selected ingredients, created in collaboration with chefs and farmers to help home cooks prepare vegetable-based meals.

ConsumerFoodTechStockholm, SE

Niklas Ekstedt(Co-founder)

FastFarmafastfarma.com in 𝕏SeedDefunct

FastFarma operates an online pharmacy platform serving Latin American customers, offering price-competitive medications with rapid delivery.

E-commerceHealthtechWellness & FitnessQuito, EC

Santiago Ribadeneira(Founder)in Marcelo Albuja(Founder)inJuan Carlos Holguin

Co-investorsY Combinator 0BS Asymmetry Ventures Axial VC Bankia Fintech Venture BuenTrip Ventures +10 more

Fintocfintoc.com in 𝕏Seed

Fintoc provides an API for businesses to automate payment identification, reconciliation, and transfers in Mexico, enabling large-scale collection and disbursement of SPEI transfers.

Developer ToolsFintechSaaSSantiago, CL

Cristóbal Griffero(Founder)in Lukas Zorich(Founder)inCristobal Griffero Lukas Zorich(Founder)Nicolas Teare(Tech Lead)Florencia Gran(Head of People)

Co-investorsBrighter Capital MONASHEES Platanus Ventures Propel Venture Partners Soma Capital Y Combinator +5 more

Foodiqfoodiq.com

Foodiq builds the Multi-Layer Cooker (MLC), a modular single-tank production system that integrates processes like mixing and pasteurisation to make multiple products from animal- and plant-based raw materials with a small footprint and fast switchover.

Advanced ManufacturingFoodTechHardwareJärvenpää, FI

Robert Savikko(Founder)in

Glitziglitzi.com.mx in 𝕏Seed

Glitzi is a service marketplace platform in Mexico that connects users with beauty and wellness professionals for on-demand services including hairstyling, massage, and facials.

ConsumerMarketplacesMexico City, MX

Ana Ramos(Founder)in Luis Enrique Vazquez(Founder)in

Co-investorsY Combinator Act One Ventures Beagle Ventures Foresite Capital Gaingels Ganas Ventures +4 more

GuruHotelguruhotel.com in 𝕏Seed

GuruHotel is an AI-powered website builder and direct booking platform for hotels that automates reservation management and integrates real-time inventory.

AI & Machine LearningFintechSaaSTravel & HospitalityMexico City, MX

Jorge Flores Acevedo(Founder)in Josue Gio(Founder)in Stiven Martinez(Founder)in Jorge Flores in Josue Gio 🔥(Founder)in Jorge Flores Acevedo in

Co-investors500 Global Anthemis Venture Nut VC Y Combinator Acquisition.com CISA Ventures LLC +4 more

InsightMeinsightme.com in

InsightMe offers a consumer insights and research platform for consumer goods companies in the food market, helping them develop and launch brands and products that resonate with consumers.

ConsumerFoodTechMarketing TechSaaS

Julienne Brunojuliennebruno.com inNov 2022Acquired

Julienne Bruno makes original food products crafted from plant-based ingredients, aimed at everyday consumers looking to incorporate them into regular meals.

ConsumerDirect to ConsumerFoodTechLondon, GB

Chi San(Founder)inAxel Katalan(Founder)

Co-investorsCherry Ventures Outsized Ventures

Nicksnicks.se

N!CK'S makes chocolate bars, protein bars and nut bars with no added sugar, made gluten-free and palm-oil-free, suitable for people following a low-carb diet or with diabetes.

ConsumerDirect to ConsumerFoodTech

Co-investorsCapagro Kinnevik PeakBridge VC Gullspång Invest

Nicksnicks.com

Nicks produces protein bars with peanuts, caramel, and chocolate, sold direct-to-consumer.

ConsumerDirect to ConsumerFoodTechWellness & FitnessSweden, US

Niclas

Nicoyanicoyalife.com in 𝕏Feb 2022

Nicoya provides digital biosensing instruments for biophysical characterization, enabling scientists to study molecular behavior and protein interactions in drug discovery and structural analysis.

BiotechDeep TechHardwareHealthtechMedical Devices

Ryan Denomme(CEO)in

Co-investorsGarage Capital Graphite Ventures Innovation Grade Ventures Innovative Solutions Canada Laurier Startup Fund Maple Leaf Angels +6 more

Oatlawsoatlaws.com in

Clean-label breakfast and snacking products.

Teppo Ylä-Hemmilä(Founder)in

PayCaddypaycaddy.com in 𝕏Seed

PayCaddy provides a platform that allows Latin American companies to launch financial products including digital wallets, payment automation, and card issuance through API integration rather than building from scratch or using traditional banks.

FintechPanama City, PA

Juan Diego Galvez(Founder)in Federico Benavides(Founder)in

Co-investorsAAF Management Ltd.Cathexis Ventures Flucas Ventures Kube VC Region Cuatro Soma Capital +4 more

RendaloMaqrendalomaq.com inSeed

RendaloMaq operates a digital platform for renting construction and mining equipment across Latin America.

Construction TechPropTechSantiago, CL

Ariel Vaisman(Founder)in José Tomás Fernández(Founder)inJuan Pablo MirJoaquin Araujo

Co-investorsFundersClub Olive Tree Capital Soma Capital Startups Y Combinator 1984 Ventures Management, Llc +6 more

Salvysalvy.com.br inSeed

Salvy provides virtual mobile phone numbers and corporate mobile plans for businesses.

AI & Machine LearningEnterprise SoftwareSaaSCuritiba, BR

Artur Negrão(CEO)in Hudo Assenco(CTO)in Maria Eduarda Kumlehn(Founder)in Lucas Rosa(CPO)inMaria Kumlehn(Founder)

Co-investorsEight Capital Latitud Ventures Pioneer SaaSholic Y Combinator Andreessen Horowitz +4 more

Splendid Spoonsplendidspoon.comFeb 2022 · $12M

Splendid Spoon offers a subscription meal-delivery service featuring 60+ plant-rich, frozen ready-to-eat meals for breakfast, lunch, dinner and snacks, aimed at busy people who want nutrient-dense food without prep.

Direct to ConsumerFoodTechWellness & Fitness

Co-investorsDanone Manifesto Venture GATHER VENTURES Streamlined Ventures Torch Capital Rocana Ventures Semillero Partners

Vertical Harvestverticalharvestfarms.com in 𝕏Mar 2022

Vertical Harvest operates vertical greenhouses that grow leafy greens and fresh produce year-round while providing customized employment for people with disabilities through its Grow Well program.

AgTechFoodTechImpact & Social GoodJackson, US

Caroline Croft Estay(Executive Officer)in Nona Yehia(Executive Officer, Director)inKorin Matter(Executive Officer)Arik Griffin(Executive Officer)Gingee Prince(Director)Paul Dugsin(Director)in

Co-investorsRaiven Sorenson Impact Foundation

Yummyyummysuperapp.com in 𝕏Seed · Oct 2021

Yummy is a Latin American super app that offers delivery services across multiple categories including food, groceries, transport, pharmacy, beverages, fashion, electronics, and events.

ConsumerE-commerceLogistics & Supply ChainMarketplacesMobility & TransportationSaaSLos Angeles, US

Vicente Zavarce(Founder)inVicente Zavarce Nunez(Executive Officer, Director)Annie Luchsinger(Director)Diego Salas(Director)Herbert Eduardo Castillo Bonilla(Director)

Co-investors2080 Ventures Cathexis Ventures Collide Capital Epakon Capital Ethos VC First Check Ventures +28 more

Other

Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.

Farmers & ChefsN!CK'SPeas of Heaven

Portfolio news

latest coverage across their companies

Boom AI: Your AI Growth Team for E-commerce Brands 🚀

Boom AI · ycombinator.com · Oct 23, 2025

Vertical Harvest Receives Investment From Raiven Capital (Dubai)

Vertical Harvest · finsmes.com · Sep 23, 2025

Frequently asked questions

How many investments has Nicoya made?: Nicoya has 28 tracked investments, 1 of which have exited.
What stage does Nicoya invest at?: Nicoya invests at the Seed, Series A stages.
What sectors does Nicoya focus on?: Nicoya focuses on AgTech, Consumer, FoodTech.
Where is Nicoya located?: Nicoya is headquartered in Stockholm, SE.
Does Nicoya lead rounds?: Nicoya has led 4 of the 5 rounds where its role is on record.
Who does Nicoya co-invest with?: Nicoya most often shares deals with Cherry Ventures, Raiven, Seedcamp, among 9 tracked co-investors.

Media · Podcasts & interviews

featuring the team

60. Christopher Slim - VD Nicoya: Investeraren som bytte ut trygghet mot passion och entreprenörskap

Framtidens E-handel · Christopher Slim

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