Eatable Adventures launches €50M fund for investing in early-stage food and agriculture tech startups
October 4, 2021 - 3 min read
Eatable Adventures has just announced the launch of its first €50 million fund: Eatable Evolution Fund FCR I. The vehicle will make early and growth-stage investments targeting the most disruptive startups in food and agriculture tech across Europe and Latin America. This will be the biggest fund of its kind in Spain and one of the top 3 in Europe.
This milestone marks a new stage of growth for the company, that has already launched more than 10 accelerator and incubation programs, while collaborating as the go-to advisor on open innovation for the leading global food corporations.
The fund's launch arrives as the global foodtech scene demonstrates an impressive growth. According to Agfunder, in the first half of 2021, startups have globally raised $24 billion, getting very close to the total for all of 2020.
Eatable Adventures’ latest accelerator program, Spain Foodtech, included a diverse portfolio of startups ranging from upstream technologies like the hyper realistic 3D printed plant based steak of Cocuus, to the protein creation through fermentation of MOA foodtech, the mycelium based burgers of Innomy, H2hydroponics vertical farming and indoor farming facilities in the most extreme climates and downstream solutions like Proppos’ artificial intelligence and computer vision for unattended Point of Sale in foodservice. The results of this cohort have demonstrated almost a double digit growth in value in only six months.
The upcoming startups participating in the next call for projects will have access to the Eatable Adventures’ hands-on methodology, with a dedicated team focused on their business model, route to market strategy, industrial scaling, and showcasing their products and solutions to large industrial partners.
Eatable Adventures’ founders, José Luis Cabañero, Mila Valcárcel, José de Isasa, will be joined by new partner Gonzalo Ramírez Martiarena, Founder and CEO of Swiss Pampa and former Global CEO of Louis Dreyfus Company, one of the world's leading companies in the industrialization and marketing of agricultural products, who is also a leading investor in foodtech startups, with investments in 18 projects with global reach.
"Through a variety of initiatives Eatable Adventures has positioned itself as one of the 3 most active foodtech accelerators worldwide, given our mission of building tomorrow's food companies. Thanks to Eatable Evolution Fund we will have an even more impactful contribution to the future of the food industry." states José Luis Cabañero, CEO of Eatable Adventures.
The fund is currently pending approval by the Comisión Nacional del Mercado de Valores (Spanish Securities Market Commission). The management company will be Abante Asesores Gestión SGIIC, S.A., a financial institution with extensive experience in the management and administration of private equity vehicles with more than 1,200 million euros under management in these vehicles.
