ECBF Management GmbH today announced Nestlé’s investment in the second closing of the European Circular Bioeconomy Fund (ECBF), the first venture fund exclusively focused on scaling up late-stage circular bioeconomy companies in Europe. Circular bioeconomy includes innovation in the food and feed sectors as well as in sustainable packaging. With the commitment of Nestlé, ECBF Management GmbH has successfully raised €175 million in total. The €93 million raised in ECBF´s second closing has doubled the Fund´s size only two months after it assumed operations.
With a target size of €250 million, ECBF will be an important financial instrument contributing to the European Green Deal of making Europe climate neutral by 2050. Nestlé as well as Neste Oyj, Volkswohl Bund Versicherungen, NRW.BANK and one family office participated in this investment round.
“We are pleased to contribute funding and expertise to scale up innovative solutions in the renewable and bio-based sectors in Europe,” said Antonia Wanner, Head of Environmental, Social and Governance (ESG) Strategy and Deployment Unit at Nestlé. “This investment is in line with our commitment on sustainable packaging
and our plans to combat climate change
“ECBF welcomes Nestlé as an active partner to fuel the growth of European Bioeconomy companies. Nestlé´s great expertise and network in food and packaging increase ECBF´s capacity to evaluate and support innovative scale-ups significantly. We are looking forward to a close collaboration,” said Michael Brandkamp, Managing Partner at ECBF Management GmbH
ECBF invests primarily on late-stage bioeconomy companies across Europe with high potential for innovation, favourable returns, and sustainable impact. By targeting those deals, ECBF is successfully addressing the challenge of bringing capital and innovation closer to unlock the economic potential of the circular economy. The venture capital expertise and technological background of ECBF’s advisory team nurture ECBF’s abilities to select the best bioeconomy companies for its investors and provide valuable support for their further growth.
Source: European Circular Bioeconomy Fund (ECBF), press release, 2020-12-15.