October 26, 2023

By Lynda Kiernan-Stone, Global AgInvesting Media

In only six years, Astanor Ventures went from launching its first fund to being recognized as a forward-thinking presence and leader in agrifood tech impact investing. 

The ever-increasing global attention on the climate crisis and growing demand for sustainable options are reflective of how the agrifood tech investment class, and the broader bioeconomy, remain intrinsically captivating to innovators and ripe for investment – despite fluctuations in the market – according to Astanor. 

Astanor’s success in scaling its firm – the building of a passionate team, and the continuous engagement of large family offices and returning institutional investors – demonstrate the firm’s successful resilience in a turbulent economy. 

Just last month, the firm announced the successful final close of its second venture fund at €360 million (US$384.6 million) – an announcement that establishes a record-breaking fund size, and underscores the firm’s unwavering dedication to being a transformative hand in agrifood.

“When looking at new companies to invest in, our approach will continue to always look for highly disruptive and scalable business models, driven by ambitious entrepreneurs who also share our vision of sustainable and resilient agrifood and bioeconomy systems,” said Eric Archambeau, co-founder and partner with Astanor, last month upon the closing. 

And now, moving from strength to strength, Astanor announced it has achieved B Corp certification with a record-breaking certification score of 121.3 – a direct reflection of the firm’s dedication to responsible venture capital investing centered on sustainability, social responsibility, and environmental stewardship. 

In addition, Astanor Ventures also recently received the Diversity VC certification, underscoring its dedication to fostering a diverse and inclusive work environment and championing DEI initiatives across the agri-food industry. 

“We started Astanor Ventures with the vision to back mission-driven entrepreneurs to transition the agrifood sector and this outstanding score is a recognition of our work over the last six years,” said Leslie Kapin, director of impact, Astanor Ventures.

“We believe that by leading through example, we can inspire our portfolio companies to follow suit, reinforcing our shared commitment to a sustainable future,” continued Kapin. “We are proud to be part of a global movement that aims to redefine success in business by placing purpose and positive impact at its core and want to use this recognition as an opportunity to walk the talk.”  

This world-first achievement now sees Astanor joining the 7,000+ global B Corp certified companies that are fully committed to ethical business conduct, sustainable practices, and driving positive change. But what sets Astanor apart is the significance of this achievement in the venture capital space. 

Gaining B Corp certification involves a rigorous review process of the impacts of an operation and business model on workers, customers, communities, and the environment. Companies also must meet a minimum verified score on the B Impact Assessment. Astanor outlined how it meets key metrics:

Sustainable Investment: Astanor Ventures consistently invests in and supports innovative companies that prioritize sustainability and the development of regenerative agricultural practices.  

Environmental Responsibility: The firm has demonstrated a strong commitment to reducing its carbon footprint and implementing environmentally friendly practices across its operations.  

Ethical and Inclusive Business Practices: Astanor upholds standards of ethical conduct, ensuring fair and equitable treatment of all stakeholders, from farmers to investors. 

Community Engagement: Astanor Ventures actively engages with the communities in which it operates for positive social and economic impacts.  

Transparency: Astanor Ventures is dedicated to transparency in its operations and reporting, allowing stakeholders to track progress and hold the firm accountable for its commitments.  

Astanor Ventures explained that achieving this goal is an essential step for the firm as it actively encourages and supports its portfolio companies to pursue certification. To-date, nine of its portfolio companies have been successfully certified, shining a light on the successful execution of its mission. The firm also noted that it intends to inspire its investee companies to similarly align their operations to promote a more sustainable and responsible agri-food ecosystem for the future. 

~ Lynda Kiernan-Stone is editor in chief with GAI Media, and is managing editor and daily contributor for Global AgInvesting’s AgInvesting Weekly News and  Agtech Intel News, as well as HighQuest Group’s Unconventional Ag. She can be reached at lkiernan-stone@globalaginvesting.com.

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