Convent Capital, an Amsterdam-based investment firm, announced on Tuesday the second closing of its AgriFood Growth Fund, which has now reached €100M. The Dutch insurance firm a.s.r. has committed €10M to the closing.
Convent Capital, founded in 2011, is an independent asset manager. It has two funds that are primarily focused on growth and buyout opportunities in Europe.
The firm began making circularity investments in 2011, and introduced its Article 9 sustainable AgriFood Growth Fund in April 2022.
Convent claims that it has been committed to facilitating the shift from the present linear economy to a circular economy ever since its inception. For its stakeholders, its long-term approach produces stable, high returns.
How will the funds be utilised?
The Fund’s primary investment strategy is on sustainable and innovative food and agricultural companies throughout Europe.
Its aim is to assist businesses that are dedicated to enhancing the efficiency and sustainability of the food system in order to provide both financial returns and favourable environmental impacts.
Convent Capital’s Principal, Bor Boer, says, “We are thrilled to have reached this important milestone in the growth of our Food and Agri Impact Fund. We believe that sustainable food and agriculture are critical to the future of our planet and we are proud to have the support of investors with the like of a.s.r. who share our values and vision.”
“As one of the largest investors in Dutch agricultural land, working with a.s.r. will offer our portfolio companies a great link to the Dutch primary agricultural sector,” adds Boer.
The Fund has already backed a number of businesses that are attempting to revolutionise the food and agriculture industries, such as phytogenic feed additive company AHC and biobased chemical company Chaincraft.
The third and most recent investment was as a lead investor in BeeHero, the top provider of precision pollination services in the world, which raised $43M.
According to the Fund, its team of seasoned investors and industry specialists will keep track of and assist companies with the potential to generate profit as well as significant social and environmental impact.
About a.s.r.
a.s.r. asset management has over €75B in assets under management and recognises the importance of sustainable investing. The Dutch asset manager’s customers include pension funds, insurers, donor-advised funds, educational institutions, and government bodies.
“We work together with them on a daily basis to achieve a sound return,” says the firm.
a.s.r. asset management is part of ASR Nederland N.V.
It is one of the top 10 per cent most environmentally and socially responsible insurers in the world, according to the Dow Jones Sustainable Index, and plays a leading role as an impact investor in the financial industry.
The a.s.r. sustainable strategy places a strong emphasis on biodiversity support and environmental protection, which has led to significant financial commitments for carbon emission reduction and sustainable land and water use.
a.s.r. oversees the management of around 43,000 acres of agricultural and horticultural land in the Netherlands.
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