Livestock tech fund hits €24m first close

Seventure Partners, a subsidiary of France's Natixis, had already closed a €160m microbiome-focused fund backed by corporate giants in 2015.

Seventure Partners, a Paris-based venture capital firm, has reached a €24 million first close on a fund targeting livestock innovations.

AVF, as the vehicle is dubbed, covers animal health, feed and nutrition, as well as digital technologies serving the livestock industry. Its cornerstone investor is Adisseo, the Shanghai-listed subsidiary of China National BlueStar, a nutrition giant that counts 25,000 staff and posted €6.4 billion in sales last year.

AVF, which has a €60 million target, will primarily invest in Europe, North America and Israel but may also consider other geographies, including Asia. Its managers expect to be disbursing up to €3 million per deal.

“This new thematic fund was created to address a very specific and expanding need in the market: preserving animal health, gaining a better understanding of the entire food value chain, as well as developing technologies to cultivate and produce food in a better way,” said Isabelle de Cremoux, chief executive and a managing partner at Seventure.

The news comes little more than two years after Seventure closed Health for Life Capital on €160 million, thanks to commitments from Danone, Tereos, Tornier, Lesaffre, Bel and Novartis, as well as high-net-worth individuals and financial institutions.