Plant-Based

Fund II is nearing its €80m fundraising target having now raised at least €70m from LPs such as Elo Mutual Pension Insurance Company and Valio Pension Fund.

The vehicle held a €75m first close in June 2024 and has surpassed its €150m fundraising target.

Founder Nick Cooney says a strong exit environment and past earnings by the innovative early-stage companies that are his firm’s focus are driving Fund II towards its $100m target.

Managing partner Katrin Burt says the round is designed to help Colorado-headquartered Meati capitalize on a taste and nutrition advantage that could make it a category leader.

The first-time fund received backing from European Investment Fund, KfW Capital and BPI France, among others.

The plant-based protein business said it achieved profitability and a 500% growth rate between 2020 and 2023.

Seviora Capital’s T3F strategy has raised $173m to date for a 10-year closed-end fund focused on early-stage investments in agri-food companies across APAC.

Mandalay Venture Partners hopes a commitment from Queensland Investment Corporation will help to attract more investors ahead of a final close.

The Compleat Food Group is on a mission to become the UK’s ‘number one chilled prepared food company.’

KKR Impact co-head Ken Mehlman says a more holistic sustainability approach means ‘agriculture, water and land remediation are really important’ as the firm deploys its $2.8bn Impact Fund II.