PeakBridge, the agrifood-tech venture capital fund manager investing globally, and EIT Food, the world’s largest Agrifood Innovation Ecosystem supported by the European Institute of Innovation and Technology (EIT), have today announced the launch of PeakBridge FoodSparks® SCSp, a new seed fund for European agrifood-tech startups.
The fund will offer up to €30 million of investment over a span of up to four years, with an aim to invest in approximately ten startups per year. The companies to receive investment will all be domiciled in Europe/EFTA and Israel, have protectable and scalable technology, and align with EIT Food’s mission of making the food system more sustainable, healthy and trusted.
In addition to capital, the startups and entrepreneurs included in the fund will be given access to advice and mentoring from the wider EIT Food community, allowing them to benefit from decades of food experience and knowledge.
FoodSparks®, managed by PeakBridge, will be headed up by Managing Partner Yoni Glickman, working closely with its investors, among them Ordway Selections, CPT Capital, Givaudan, Puratos, and Gullspång Re:food, allowing the portfolio companies to benefit from a wide range of potential co-investment and follow-on investment opportunities.