The European Circular Bioeconomy Fund has raised €300 million to invest in the “bio revolution” – by backing venture-stage companies producing biological and organic materials for circular economy industries.
The fund, which launched in December 2019 with a €100 million anchor investment from the European Investment Bank, has closed in excess of its €250 million target, according to a press release from the fund.
Further investments came from Allianz France, insurance company Volkswohl Bund; Landwirtschaftliche Rentenbank, Dutch government-backed investor Invest-NL; development bank NRW.BANK; Stellar Impact, a fund managed by Telos Impact; Nestlé; chemical companies GCV, Corbion, BÜFA and Firmenich; fuel producer Neste; the Wortmann Family Office, Dr Hans-Riegel Stiftung, Dr Hettich Beteiligungen and Koehler Group family offices; and multi-family-office Bellevue Investments.
The fund has made six investments so far, including in Protix, a company that produces proteins from black soldier flies bred with food waste.
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