May 15, 2024

By Lynda Kiernan-Stone, Global AgInvesting Media

PeakBridge announced that PeakBridge Growth Fund II has exceeded expectations, closing at $187 million and bringing total AUM for the firm to more than $250 million. 

Active in food tech investing since 2000, PeakBridge is a pioneering global impact fund manager in the agrifood tech space focusing on scalable, patented, and sustainable technologies that address interconnected, long-term environmental and nutrition challenges.

“For us, VC stands for Value Creation and is at the core of what we do,” said Nadev Berger, founding general partner, PeakBridge. “Our team brings to the table a rare mix of experience: FoodTech investment pioneers, veteran Agri-Food industry operators, scientists, and financiers. Together with strong industry partnerships, we’re positioned to confront those real-world problems.”

This food tech fund was the result of a partnership announced in Geneva, Switzerland in December 2021 between Edmond de Rothschild’s (EdR) Private Equity investment platform and PeakBridge VC designed to build on the partners’ shared vision and common values around the transformation of our food systems.  And through combining their respective skills and international presence, PeakBridge and EdR are positioning to be contributing responders to the environmental and social challenges associated with our food systems.

“Our food diet is standardized and neither healthy nor sustainable,” said Nadav Berger, general partner and co-founder of PeakBridge, in September 2022 when the fund had its first close at €100 million (US$100.2 million).

“Much of our food comes from a small number of over-processed ingredients which are harmful to both biodiversity and our health. Solutions and technologies that explore alternatives to animal-based protein without compromising on taste, texture, nutrition, and climate impact are becoming increasingly significant.”

PeakBridge plans to invest in between 16-20 companies through the fund with an average ticket size of approximately $10 million, adding that early indications are that returns will be tracking positively. 

Examples of some investments made include:

Rival Foods: A tech spinoff company out of Wageningen University & Research, Rival Foods is developing new technologies, equipment, processes, and product formulations that improve the quality of the taste and texture of vegetable protein to create animal protein alternatives with greater appeal, enhanced nutritional profiles, better quality, lower cost, and lighter environmental impact. The ultimate goal for these patent-protected products is to provide nutritious and sustainable alternatives to conventional food products. 

Standing Ovation: Based in France, Standing Ovation develops animal and lactose-free cheese and dairy product alternatives made with proteins produced via microbial fermentation. The company’s innovative, streamlined process produces caseins without the cattle – a segment of animal agriculture that accounts for about 15 percent of global greenhouse gas emissions. 

Vow: The first cultured meat company in Australia that is tackling the challenges of hunger, food security, human health, and environmental degradation through ethically expanding the diversity of our options by using animal cells to grow meat in a laboratory. However, Vow is not only looking to produce mainstream meats such as chicken or pork, but has a cell library of exotic species including water buffalo, kangaroo, and alpaca.

Win-Win: The world’s first company to bring cocoa-free chocolate to market by using cutting-edge science to convert abundant and sustainable ingredients into chocolate that tastes and behaves the same as conventional chocolate. 

“We extend our deepest gratitude to our partners and investors for their continued support,” expressed the PeakBridge leadership team in a LinkedIn Post. “Together, we are pioneering change and setting new standards for sustainability and innovation in the food 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. She can be reached at lkiernan-stone@globalaginvesting.com.

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