February 8, 2024

By Lynda Kiernan-Stone, Global AgInvesting Media

More food tech news out of Europe. Dutch agrifood tech impact investor Future Food Fund II (FFF II) announced its final close at €40 million (US$43.11 million) with the support of aligned entrepreneurs and other high-profile backers such as the European Investment Fund (EIF) – which committed €20 million supported under the Invest EU program of the European Commission – Risk Capital Resources, and the Dutch Future Fund. 

“The EIF, as part of the EIB Group, works to mitigate climate change through its investments,” said Marjut Falkstedt, chief executive, EIF. “Future Food Fund II supports this European vision for a sustainable future by investing in ground-breaking ventures that prioritize environmental sustainability. A more resilient and eco-friendly food system benefits all EU citizens and we’re happy to support this.”

In addition to the EIF, FFF II has continued its collaboration with top-tier Dutch organizations such as Wageningen University & Research (WUR), Oost NL, and the Northern Netherlands development agency NOM via partnerships that underscore the Netherlands’ leadership in sustainability and the agrifood tech sector.

Founded in 2017 as a specialist agri foodtech venture capital investor, Future Food Fund’s first fund has invested in 10 Dutch food and ag startups such as NoPalm, a producer of a local, circular, and sustainable alternative to palm oil; Soilwise, a bio-based soil health technology company; and Sensoterra, a producer of wireless soil moisture sensors and water management solutions. 

Commenting on the FFF II’s mission to reshape the future of food and agriculture, and what this close represents, Peter Arensman, founding partner, FFF II, said, “Future Food Fund II is more than an investment vehicle; it’s a catalyst for change. We are not just investing in companies; we are investing in a brighter future for our planet.”

“We are grateful to have such a strong base of entrepreneurs who have continued to support us since our inception, and we are equally appreciative of the commitment from our valued partners both in the Netherlands and across Europe.”

Since its launch, FFF II has been a transformative driver in the food and agriculture systems, investing in Seed and Series A rounds for Western European companies with the potential to change the value chains. Focusing on pivotal categories like regenerative agriculture, zero-impact foods, and circular systems, FFF II is working to evolve these critical sectors to mitigate climate change for a sustainable future. 

Toward this end, the fund has already backed startups that embody this mission, including EV Biotech, a company developing and optimizing precision fermentation strains and processes, and Extracellular, a CDMO scale-up and development partner for cultivated meat. In addition, the team stated that there is a full pipeline of opportunities in place with expectations for more companies joining the portfolio this year. 

~ 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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