The European Circular Bioeconomy Fund (ECBF) announced that it has raised €300M, exceeding the original target of €250M. The EU-backed fund will finance growth companies in the bioeconomy and biobased circular economy.
The funds came from a range of public and private investors from eight countries. The investors include Landwirtschaftliche Rentenbank, Allianz France, Invest NL, GCV, Firmenich, Stellar Impact (a vehicle managed by Telos Impact), Dr. Hans-Riegel Holding and Bellevue Investments.
Companies, including Neste, Nestlé, BÜFA, NRW.BANK, Volkswohl Bund, Corbion, Dr. Hettich Beteiligungen, Koehler Group, Wortmann Family Office, and three other investors participated in the previous rounds. In total, the group of investors now includes 25 shareholders.
Co-Founder and Managing Partner of ECBF, Michael Brandkamp, says, “We are proud and grateful to have received the trust of investors from eight different countries to advance this important growth sector. Exceeding our initial target of €250M is a big commitment for us: with the necessary expertise, the strong dedication of the ECBF team, and the right partners, we can make our vision of a bio-based economy a reality. Many European founders have enormous potential to help ride the wave of the Bio Revolution, and we will do our utmost to support them. This is the only way we can significantly support a sustainable economy – and thus a secure future for all”.
According to the experts of the European Circular Bioeconomy Fund (ECBF), after digitalisation, the next global wave of transformation rolling in is the Bio Revolution.
“This means a change from a linear, fossil-based economy to a sustainable, bio-based economy,” writes ECBF.
European Circular Bioeconomy Fund (ECBF)
Based out of Luxembourg, the European Circular Bioeconomy Fund (ECBF) is initiated by the European Union (EU) in bioeconomy and circular economy.
The VC firm came into existence in 2020 with a €100M commitment from the European Investment Bank (EIB) backed by a guarantee from InnovFin – EU Finance for innovators under Horizon 2020.
The VC firm invests in European entrepreneurs who are driving the transition from a fossil-based to a bio-based economy.
ECBF has team members from 13 different nations, where it combines diversity, economic and scientific expertise, and long standing experience in various fields.
To date, the VC firm has invested in various companies, including Prolupin GmbH, Peel Pioneers B.V., Aphea.Bio B.V., Nuritas Ltd., Elicit Plant SAS, and Protix B.V.
ECBF is managed by Hauck & Aufhäuser Funds Services S.A. as Alternative Investment Fund Manager (AIFM) and advised by an experienced investment team, ECBF Management GmbH.
Christian Kettel Thomsen, Vice-President at the European Investment Bank, says, “We are very pleased to have been an anchor investor of the European Circular Bioeconomy Fund, which provides crucial financing for innovators in the bioeconomy sector. From water stress management solutions to insect-based ingredients or the valorisation of orange peels that would otherwise go to waste, the first investments made by the fund show the potential of the bioeconomy sector to help address the environmental challenges of our time and contribute to the European Union’s transition to a carbon-neutral and circular economy.”