January 2, 2024

photo credit: Rockstart

By Lynda Kiernan-Stone, Global AgInvesting Media

Amsterdam-based, early stage venture capital firm Rockstart has officially launched Rockstart AgriFood Fund II with a funding target of €50 million (US$54.74 million) and plans to invest in up to 50 startups within the next five years. 

Rockstart explained that when it started in 2011 as an accelerator it wanted to “create the ultimate startup machine”, and so it has. Today, Rockstart is an initial impact investor for early startups that has backed 50 ag and food tech endeavors since its launch, resulting in more than €60 million (US$65.7 million) raised by these companies collectively.

AgriFood Fund II is the group’s fourth fund, following the success of Rockstart AgriFood Fund I in 2019, Rockstart Energy in 2020, and Rockstart Emerging Tech in 2022. Backed by The Export and Investment Fund of Denmark (EIFO), family office De Hoge Dennen, and Danish Agro, among others, AgriFood Fund II continues to carry forward a primary focus on funding mission-driven founders who are scaling impactful solutions by leveraging emerging technologies and innovative business models designed to improve the food supply system from soil and ocean to consumer. 

With global offices in Amsterdam, Copenhagen, and Bogotá, Rockstart’s experienced team understands that the fastest way to achieve sustainability is through lasting partnerships and a global network of mentors, investors, and corporate partners providing fast-track solutions through domain-focused and bespoke monitor-driven programs, market introductions, and pre-Seed through Series B investments. 

“We are on a mission to empower purpose-driven founders on a global scale,” said Rune Theill, CEO and co-founder, Rockstart. “Guiding startups through scaling and offering access to capital, especially in challenging markets, remains fundamental to our founder-focused ethos. We’re excited about our ongoing collaborations with partners, mentors, and stakeholders, forging impactful alliances that drive positive change across diverse domains.”

This fund is now actively looking to make investments in regenerative solutions that restore our soils and oceans, making them better CO2 capture systems; in circular and responsible innovations that generate value from wasted food while reducing food loss; and quantifiable tools and solutions that provide consumers with greater access to nutritious foods. 

Selected startups will not only receive an initial investment, but will also gain access to Rockstart’s comprehensive biannual accelerator program that equips startups with the necessary resources and guidance, including sessions on ESG data collection and reporting, to prepare them for significant growth and long-term positive impact.

This approach has created an ecosystem in which Rockstart’s founders are able to work alongside world-leading companies, placing them in a better position to gain further investment and allowing them to more rapidly achieve commercialization.

“Since 2017, we’ve been committed to championing a regenerative and sustainable food system, investing in 50+ startups,” said Mark Durno, managing partner AgriFood, Rockstart. 

“With the launch of our new fund, we continue this mission by investing in early stage agrifood startups, aligning with EU climate and ESG targets to build a better future. Our appreciation extends to existing and new investors for their unwavering support. The trust from organizations like EIFO, De Hoge Dennen, and Danish Agro makes us more determined than ever to continue enabling progress within the sector.”

~ 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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