Future Food Fund closes €40m impact VC vehicle

The firm’s Fund II received a €20m commitment from the European Investment Fund.

Dutch venture capital firm Future Food Fund has closed its Article 9 impact fund on €40 million.

Future Food Fund II was backed by a €20 million commitment from the European Investment Fund, with participation from other LPs including Risk Capital Resources and the Dutch Future Fund, among others.

The vehicle will invest in seed and Series A funding rounds for Western European agtech companies, with an emphasis on regenerative agriculture, zero-impact foods and circular systems.

“Future Food Fund II is more than an investment vehicle, it’s a catalyst for change,” said founding partner Peter Arensman in a statement.

“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.”

The vehicle has already deployed capital into EV Biotech, a company specialising in designing and optimising precision fermentation strains and processes; Extracellular, which is a CDMO scale-up and development partner for cultivated meat; and Plantik, a start-up that develops solutions to increase the resiliency of crops.

European Investment Fund chief executive Marjut Falkstedt said in the statement: “The EIF, as part of the EIB Group, works to mitigate climate change through its investments. 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.”

Fund I invested in 10 companies including palm oil alternatives developer No Palm Ingredients, soil health start-up Soilwise and automated crop analysis company Phenospex.