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Five Seasons raises €180m for food tech

Europe’s ‘first food tech VC’ closes its second fund and will invest in healthier and more sustainable consumer products.

Five Seasons, Europe’s “first VC to focus on Food Tech in Europe”, has closed its second food technology impact fund at €180 million. It closed its first food technology vehicle at €77 million in 2018.

Fund II has made four investments, including her1, a female wellness supplements company, and Vly, a plant-based milk company. The venture capital firm invests in European consumer-focused food technology companies “that make healthier and cleaner products, that are manufactured and packaged more sustainably, with shorter supply chains and fewer emissions”, co-founder Niccolò Manzoni said in a statement.

The first fund’s investments generated 20x revenue growth in four years and aggregate revenue of €350 million, Five Seasons reported in the statement.