Capagro, European pioneer of AgriFoodTech, launches its second fund

Building on the success of its first fund, Capagro announces the launch of the second €200 million fund to support the growth of the most promising startups in the European AgTech and FoodTech sectors.

The launch of the new fund is accompanied by an initial investment in Cuure, a European player in the personalized health sector.

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Five years after the closing of the first European venture capital fund dedicated to AgTech and FoodTech, Capagro announces the launch of a successor fund: Capagro Agri-Food Innovation Fund II (Capagro II). The objective of this fund is to support the growth of the most promising European AgTech and FoodTech startups, for more sustainable agriculture and healthy food, with an initial investment in the startup. CuureEuropean leader in personalized nutrition and health operating in the promising market of dietary supplements.

This new fund of 200 million euros has already brought together the following investors with Capagro’s sector experts: Groupe Avril, LSDH, Terrena, Groupe Bel, Groupe Crédit Agricole (IDIA) and Bpifrance. It has also hosted the agricultural cooperative group Euralis and is opening its doors to other institutional, industrial and family office investors for the ongoing fundraising.

Capagro II targets high-potential growing startups that champion innovative projects for sustainable agriculture and healthy food in the AgriFoodTech sector. The fund will act as lead manager or co-lead manager via initial sums of between 3 and 10 million euros invested in the capital of some fifteen companies, mainly European.

Like its predecessor, the new fund will cover the entire value chain of the agri-food sector, from farm to fork, with an “ecosystem” approach that integrates planet, human and animal. Capagro II’s key sectors are bio-inputs, robotics, specialty ingredients, innovative packaging, alternative proteins, personalized nutrition, new distribution channels and promising emerging sectors such as the “carbon farm”.

For Tom Espiard-Cignaco, Chairman and CEO of Capagro: “The current context reminds us of the urgency of responding to the climate, food, health, social and economic challenges impacting agriculture and food. Innovation in European AgriFoodTech already provides practical answers to these challenges but also needs financial support at a level commensurate with its potential.

Bringing a flow of capital to these dynamic companies is a way to meet these challenges and an opportunity to bring out new European champions in AgriFoodTech. By supporting these companies in their ramp-up and acceleration of growth, this new fund is aimed at promising young companies, generating sustainable innovations capable of bringing profound transformations to the agriculture and food sectors.

For Anne-Valérie Bach, Managing Director of Capagro:

“As a catalyst for innovation in the agri-food ecosystem, Capagro relies on a proprietary open innovation platform that not only fosters the emergence of champions but also facilitates the adoption of innovations by our investment partners, among including agricultural cooperatives and large groups in the agri-food industry. .

This unique positioning paves the way for triple value creation in the areas of finance (with the optimization of our risk/return profile), strategy (via the collaboration generated between portfolio companies and investors) and impact (by supporting companies whose core business is to meet current environmental and health challenges).

Capagro has already contributed to creating 560 jobs in the sector thanks to this original approach, has contributed to more than tripling the turnover of the companies supported and has produced a ripple effect with third-party investors, generating more than 4 times the amount invested by Capagro.

The launch of Capagro II is part of a buoyant context, marked by strong growth in investments in 2021-2022. In 2021, nearly US$52 billion was invested in global AgriFoodTech, up 85% from 2020. In Europe, over the same period, US$9.2 billion was invested in AgriFoodTech, which represents almost 20% of the world market. Global AgriFoodTech includes 55 unicorns, 25 of which are European.

Cuure: initial investment in the personalized health sector

The launch of Capagro II is accompanied by a first investment – ​​as a leader – in the capital of the start-up Cuure, carried out within the framework of a new fundraising of 10 million euros. Cuure was created in March 2019 on the initiative of Hugo Facchin and Jules Marcilhacy with the ambition to improve everyone’s health through an innovative, holistic and personalized experience, combining science and technology.

For Hugo Facchin, co-founder and CEO of Cuure:

“This new investment will allow us to share our vision of health with as many people as possible: easy to access, holistic and adapted to everyone’s needs. We are also actively working on the internationalization of the Cuure experience, which is already available in several European countries, including Italy, Germany and Spain. Our ambition is to make Cuure an internationally recognized health and well-being reflex, European leader in personalized health.

The success of the Capagro I fund

Launched in April 2014, the predecessor fund, Capagro I, a pioneering European venture capital fund in AgTech and FoodTech, highlighted the dynamism of innovation in the agri-food sector in France and Europe and the need for young companies and start-ups in the sector. find the financial partners best able to help them support their growth.

Between 2014 and 2022, with a total fund of 124 million euros, Capagro I mobilized 13 major industrial groups and financial institutions and built a portfolio of 13 French and European startups in the robotics and agricultural equipment sectors (Naio Technologies, Ecorobotix, Bo Mill), agricultural e-procurement (Agriconomy), biobased materials (CelluComp), personalized nutrition (Yooji, Nick’s), alternative proteins (life), e-commerce (Japhi, The good life, Colvin), indoor cultivation (CleanGreens) and food traceability (eProvenance).

About Capagro

Capagro SAS is an independent management company approved by the Autorité des Marchés Financiers (AMF). It manages the Capagro I and II funds.

The mission of Capagro I and II is to accelerate the development of growing startups in AgTech and FoodTech that provide innovative solutions and technologies with high potential for creating financial, strategic and impact value.

The launch of Capagro II relies on 7 leading investors strongly committed to the sustainable transformation of agriculture and food: Bpifrance, Crédit Agricole, Groupe Avril, Groupe Bel, LSDH, Terrena and Euralis.

As a responsible investor and a signatory of the UN “Principles for Responsible Investment”, Capagro implements an ESG and impact approach in its investment activities and its relations with its partners.

For more information, see www.capagro.fr


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