By Gerelyn Terzo, Global AgInvesting Media
Hamburg, Germany-based Oyster Bay Venture Capital, an entrepreneur-led VC fund dedicated to the food system, has successfully closed its Fund II at over €100 million, with the fund being oversubscribed, a clear signal of investor demand. Backed by leading institutional investors, along with entrepreneurs and corporates from the agri-food sector, this development emphasizes the need for innovative solutions to pressing industry challenges such as food security, climate resilience and sustainable production.
Backers reportedly include the European Investment Fund (EIF), KfW Capital, FlowFund and leading European family offices. Portfolio companies feature goodBytz, alternative cocoa play Nukoko, Arda Biomaterials representing plant-based proteins, and seedalive GmbH for seed testing, with additional holdings that remain in stealth mode, per Oyster Bay.
The food industry is the world’s largest, representing $10 trillion in revenue, 12 percent of global GDP, and 40 percent of all jobs. However, less than 8 percent of climate-focused venture capital is allocated to this market segment, a gap that also represents a substantial opportunity for investors and innovators.
“Our first fund proved that purpose and performance go hand in hand – ranking among the top 10% of European VC funds of our vintage both in IRR and DPI. With Fund II, we continue our strategy of backing bold, innovative founders across the entire food value chain,” the company stated in a LinkedIn Post.
Oyster Bay Founding Partner Christoph Miller describes food as “the most underestimated future challenge and opportunity of our society.”
Oyster Bay was founded in 2018.
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