Capagro, an AgriTech and FoodTech company based in Paris, announced on Thursday the launch of its second fund, the €200 million Capagro Agri-Food Innovation Fund II (Capagro II). This launch comes five years after the closing of the first European venture capital fund focused on AgTech and FoodTech, Capagro I.
Capagro says it will support AgTech and FoodTech startups for sustainable agriculture and healthy food with the second fund. The fund will act as lead manager or co-lead manager with an initial investment of between €3m and €10m in some fifteen European companies.
The fund has already made its first investment with €10m as lead investor in Cuure, a Paris-based personalized nutrition and food supplement start-up.
Capagro II donors and investors
Capagro says the new fund has the backing of investors and industry experts such as Avril Group, LSDH, Terrena, Bel Group, Crédit Agricole Group (IDIA) and Bpifrance. The agricultural cooperative group Euralis and other institutional investors are also participating in the fundraising. round.
Like the previous fund, the new fund will also focus on the entire agri-food value chain – from farm to fork – using an ‘ecosystem’ strategy that takes into account the interconnected aspects of the ecosystem, its inhabitants and the food chain as a whole. . It will also focus on emerging industries such as “carbon farming” and more traditional industries such as bio-inputs, robotics, specialty ingredients, new packaging, alternative proteins, personalized nutrition and new distribution methods.
Tom Espiard-Cignaco, Chairman and CEO of Capagro, says: “The current context reminds us of the urgency of meeting the climate, food, health, social and economic challenges impacting agriculture and food. Innovation in European AgriFoodTech already provides practical answers to these challenges, but also needs financial support at a level commensurate with its potential.
“Bringing a flow of capital to these dynamic companies is not only a way to meet these challenges but also an opportunity to bring out new European champions in AgriFoodTech. By supporting these companies in their ramp-up and acceleration of growth, this new fund is aimed at promising young companies that generate sustainable innovations capable of bringing profound transformations to the agriculture and food sectors”, he adds.
The company says global investment in AgriFoodTech increased 85% in 2021 compared to 2020, reaching around $52 billion. During the same period, AgriFoodTech’s investments in Europe totaled $9.2 billion, or approximately 20% of the global market. There are 55 AgriFoodTech unicorns worldwide, including 25 in Europe.
First Capagro II investment
Caprago II has already invested €10 million in Cuure.
Founded in 2019 by Hugo Facchin and Jules Marcilhacy, Cuure aims to improve everyone’s health by combining science and technology in an unprecedented, global and personalized way.
Hugo Facchin, co-founder and CEO of Cuure, says: “This new investment will allow us to share our vision of health with as many people as possible – easy to access, holistic and adapted to everyone’s needs. We are also actively working on the internationalization of the Cuure experience, which is already available in several European countries, including Italy, Germany and Spain. Our ambition is to make Cuure an internationally recognized health and well-being reflex, European leader in personalized health.
Capagro SAS is an independent management company (AMF) recognized by the Autorité des marchés financiers. Its first fund, Capagro I, was launched in April 2014 and was the first European venture capital fund focused on agricultural and food technologies.
From 2014 to 2022, Capagro I raised a total of €124M from 13 major industrial groups and financial institutions, and invested it in a portfolio of 13 French and European startups working in areas such as robotics and agricultural equipment (Naïo Technologies, Ecorobotix, BoMill), agricultural e-purchasing (Agriconomie), bio-sourced materials (CelluComp), personalized nutrition (Yooji, Nick’s), alternative proteins (La Vie), e-commerce (Japhy, La Belle Vie, Colvin), indoor growing (CleanGreens) and food traceability (eProvenance).
Capagro is a signatory to the United Nations “Principles for Responsible Investment”, and uses an ESG and impact approach in its investment work and in its relations with its partners.
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