TL;DR:
- Supernova Invest and Crédit Agricole launch a €60 million innovation capital fund for agri-agro tech.
- The fund aims to support French and European agricultural and agrifood technology champions.
- It focuses on start-ups contributing innovative solutions for sustainability and competitiveness in the agri-agro industry.
- Five strategic pillars guide the selection of targeted start-ups, including promoting farming, transitioning to a low-carbon diet, preserving resources, changing eating habits, and embracing circular economy production.
- The fund plans to invest in a maximum of twenty participations, with initial investments ranging from €2 to €4 million.
- This initiative is part of a broader strategy to connect French farmers, cooperatives, and agrifood manufacturers with deep tech innovations, enabling R&D projects, scale-up, and commercial deployment.
- The agri-agro tech sector shows significant growth potential in Europe, driven by technological innovation and sustainability efforts.
Main AI News:
In a groundbreaking development for the agricultural and agrifood technology landscape, Supernova Invest and the Crédit Agricole Group have jointly announced the establishment of a cutting-edge innovation capital fund dedicated to agri-agro tech. This ambitious initiative has secured an impressive €60 million in its first closing, with a lofty target size of €100 million. This fund is not an exclusive endeavor; it is open to third-party investors, including industrialists and institutional investors, eager to support the growth and development of French and European champions in the agricultural and agrifood technology sector.
The fund’s primary mission is to provide essential backing to French and European start-ups that are pioneering technological solutions, aiming to bolster their competitiveness and accelerate their industrial transformation towards a more sustainable future within the agri-agro industry. To achieve this, the fund will align its investments with Crédit Agricole’s five strategic pillars for agri-agro transitions, encompassing:
- Promoting the attractiveness of the farming profession.
- Facilitating the transition to a low-carbon diet.
- Preserving precious natural resources.
- Cultivating healthier eating habits.
- Fostering production through the circular economy.
Under the watchful eyes of this innovative fund, a maximum of twenty agri-agro start-ups will benefit from investments, with initial allocations ranging from €2 to €4 million. Furthermore, the fund boasts the flexibility to reinvest in add-on opportunities, bolstering the growth potential of its portfolio companies.
This initiative is part of a more extensive strategy aimed at facilitating connections between French farmers, cooperatives, and agrifood manufacturers and the most promising deep-tech innovations across the continent. The fund will also play a pivotal role in financing transformative R&D projects in biocontrol, precision agriculture, green chemistry, robotics, and other critical areas. Additionally, it will support the scale-up of industrial operations and the commercial deployment of high-growth start-ups, positioning them to become leaders not only in Europe but also on the global stage.
Pierre-Emmanuel Struyven, Chairman of Supernova Invest, emphasizes the fund’s significance: “Supernova Invest is expanding its development momentum and investment capacity with this agri-agro tech thematic fund, a deep sector that we know, with strong potential. The deal flow is highly qualified in Europe and even more so in France, with a pool of start-ups that have already achieved various technological and industrial milestones, giving them strong positions worldwide. We invite interested investors to join us in the great agri-agro tech revolution underway.”
According to Jean-Pierre Touzet, Head of Agri-Agro – Guarantee – Capital Development at Crédit Agricole S.A., this venture aligns perfectly with the Crédit Agricole Group’s vision: “The aim is to position the Crédit Agricole Group as a trailblazer and shaper of the future in agricultural and agrifood transitions. Our subscription to this fund is fully in line with our Corporate Project and the ‘Ambition Agri Agro’ range of financing and investment instruments we are building.”
Notably, Supernova Invest had earlier launched its Supernova Innovation 3 seed fund in June of this year, securing an initial closing of €75 million. This fund is dedicated to supporting European deep-tech start-ups protected by intellectual property and operating in high-potential growth markets.
Conclusion:
The launch of the €60 million agri-agro tech fund by Supernova Invest and Crédit Agricole represents a significant step in fostering innovation and sustainability in the agricultural and agrifood technology sector. This strategic move aligns with the market’s growing focus on addressing key challenges related to farming, sustainability, and resource management. The fund’s support for start-ups in this domain underscores the potential for transformative advancements in the agri-agro industry, contributing to its long-term growth and competitiveness in both European and global markets.
