Luxembourg-based food venture capital firm PeakBridge, a player in the agri-foodtech sector, has secured $187 million in capital commitments for its PeakBridge Growth Fund II. This new funding aims to fuel innovation in areas crucial to addressing climate change, particularly within the food industry.
PeakBridge, founded in 2020 by Erich Sieber and Nadav Berger, emphasizes its role as a bridge connecting traditional food industry practices with cutting-edge technologies. Berger highlighted the firm’s commitment to supporting entrepreneurs in navigating this evolving landscape, particularly focusing on sectors like AI and food, where they have already invested in multiple companies.
Climate change is a central focus for PeakBridge, with a recognition that food production and consumption play pivotal roles in addressing environmental challenges. The successful fundraising for the Growth Fund II reflects strong investor confidence in PeakBridge’s mission to drive positive change in the food industry.
The fund has attracted participation from major global food and beverage companies like Grupo Bimbo, Royal Cosun, and Arancia, alongside financial institutions including Builder’s Initiative. This diverse backing underscores the broad industry support for innovations in sustainable food technologies.
PeakBridge plans to deploy the fund by investing in 16 to 20 companies, with typical investments of around $10 million per company. Notable investments from PeakBridge include ventures like Odyssey, Standing Ovation, and Vow, which focuses on cultured meat products.
One notable area of interest for PeakBridge is lab-made chocolate. The firm has invested in Win-Win, a company developing cacao replacements in response to soaring cacao prices driven by climate disruptions. This initiative reflects a broader trend within the industry towards sustainable alternatives to traditional food commodities .
Innovation in the food sector is also evident in companies like Planet A Foods and True Essences Food, which are developing sustainable alternatives and flavor technologies to address supply chain challenges and consumer preferences.
Overall, PeakBridge’s latest fund highlights the growing importance of technology and innovation in transforming the food industry to be more sustainable and resilient in the face of climate change and supply chain disruptions.
