Venture Capital: Five Seasons Ventures, A European Impact Venture Fund, Raises €180M For Foodtech
This would be the second foodtech-focused fund from Five Seasons.
Five Seasons Ventures, the European venture capital firm seeking to finance foodtech startups that have a quantifiable, beneficial impact on the planet and/or human health, announced the close of a a €180 million Fund II. (vegconomist)
Though Five Seasons Ventures typically looks for startups having demonstrated commercial traction and growth potential through Series A or Series B, it may also select outstanding pre-revenue companies for seed rounds. Check sizes range from €2-10 million as an equity, or equity-like, first investment.
Five Seasons Ventures launched its pioneering foodtech €77 million VC Fund I in Europe in 2018. The revenues of the portfolio companies comprised in that fund has grown 20X to €350 million in 2021.
Given the success of its first fund, it’s not surprising that the second vehicle is more than twice the size, it was oversubscribed, and investments from it have already been committed.
Five Seasons Ventures on climate and food – “the most pressing issues of our time”
“Food and Food Tech have the possibility to affect two of the most pressing issues of our time – climate change and human health,” said Niccolò Manzoni, Co-founding Partner of Five Seasons Ventures.
“With this new fund, we continue to focus our attention on food companies that make healthier and cleaner products, that are manufactured and packaged more sustainably, with shorter supply chains and fewer emissions.”
Ivan Farneti, Co-founding Partner of Five Seasons Ventures, commented, “There’s no doubt that Food Tech is experiencing a boom in Europe right now. When we launched Five Seasons in 2018, we were the first VC to focus on Food Tech in Europe, and we believe we contributed to making this an attractive asset class.”
“Fund II was quickly oversubscribed as more investors wanted to get exposed to European Food Tech, seeking high growth and impact.”
Fund II deployments
Five Seasons Ventures Fund II has invested in German plant-based startups The Nu Company and vly, and UK plant meat producer THIS.
Related Story: New Age Meats Lands $25M Series A
Image credit: Five Seasons Ventures Impact Report 2020
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