Food

Policies such as the USDA’s Partnerships for Climate Smart Commodities are putting regenerative ag higher on LP priority lists.

The sale represents Cibus Capital’s first exit of a wholly owned portfolio company from the $322m Cibus Fund I.

The Sydney-based private equity firm will invest in Pace Farm through its Premium Food Fund, which is the vehicle’s sixth investment.

Insects represent a sustainable livestock feed alternative but British regulation is stuck with the same barriers erected in response to ‘mad cow’ disease in 2001, say Rachel O’Connor and Peter Smithers.

The deal means a partial realization of Paine Schwartz’s 2019 investment into Special New Fruit Licensing.

The firm wants to build up to a portfolio worth £100m and is targeting a 10-12% IRR.

The start-up is also pursing regulatory approval for its beef product in Switzerland.

The vehicle has made five investments to date and plans to build out a portfolio of 20-25 companies all geared towards supporting ocean health.

The company supplies pastries to a range of service industry businesses such as hotels, cafes and bakeries.

The firm will invest in early-stage start-ups in Israel and Europe.