January 21, 2021

By Lynda Kiernan, Global AgInvesting Media

Germany-based Blue Horizon Ventures announced that it has closed its flagship fund at EUR183 million (US$222 million), nearly doubling its initial funding target of EUR100 million (US$122 million).

Founded in 2018 by investors and entrepreneurs Roger Lienhard and Michael Kleindl, Blue Horizon is deploying capital to achieve more sustainable food systems through mainly plant-based alternative protein, synthetic biology, food waste, and clean meat investments that generate positive impacts for the environment, human health, and animal welfare. And although the fund has a global scope, the focus is centered on investment opportunities in Europe.

This mission has attracted more than 100 limited partners from 20 different nations, ranging from private investors in the form of large single and multi-family offices, to corporate and institutional investors including high-profile names such as the European Investment Fund (EIF), Wire Group’s Private Markets Funds, Givaudan, Group Bimbo, Sigma, B8Ventures, and Korys/Colruyt Group.

This investment narrative is rapidly gaining traction with investors as the connections between climate change, population density, the degradation of arable farmland, and animal welfare concerns intersect with agriculture and food production. Added to this, COVID-19 has now not only shed light on the weaknesses in our food supply chains, but has also rapidly changed consumer habits, national priorities, and global trade norms – widening the growth opportunity for new, more sustainable food options.

“The global capital accelerated by the global Covid-19 pandemic is moving towards impact at great speed,” said Michael Kleindl, founder and managing partner, Blue Horizon Ventures. “This allows more and more entrepreneurs to start their ventures in the food sector.”

This growth has been proven out in the market as U.S. plant-based sales soar by more than $1 billion in only two years, from $3.9 billion in 2017 to $5 billion in 2019. Capitalizing on this growth, throughout 2020 Blue Horizon Ventures has backed some of the most dynamic startups in the plant-based and animal-free categories. 

Indeed, in March 2020, Blue Horizon Ventures founder Roger Leinhard was also a founding member of LIVEKINDLY, a new plant-based food platform dedicated to transforming the global food system through shifts toward plant-based eating, in which Blue Horizon later invested in October 2020. 

GAI News has also reported that Blue Horizon Ventures joined Moira Capital Partners in May 2020 to invest EUR5 million (US$6 million) in Spanish producer of cell cultivated omega-3s, Cubiq Foods.

Two months later, in July, Blue Horizon participated in a $91.3 million Series B round in support of British producer of animal-free, sustainable proteins Geltor, and in October 2020 the fund led $55 million in additional funding toward a Series B for Mosa Meat, a pioneer of cultured beef based in The Netherlands. 

“We are delighted to have reached the final close for our first flagship fund,” said Kleindl. “The overwhelming interest and final fund size combined with our pace and quality of portfolio building reflect the enormous potential of our investment thesis: Financial performance paired with an attractive risk return profile and tangible impact.”

– Lynda Kiernan is editor with GAI Media, and is managing editor and daily contributor for Global AgInvesting’s AgInvesting Weekly News and  Agtech Intel News, and HighQuest Group’s Oilseed & Grain News. She is also a contributor to the GAI Gazette. She can be reached at lkiernan@globalaginvesting.com.