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PeakBridge announces $187M fund to back lab-made cocoa and more innovative future food

PeakBridge raises $187M for agri-food tech investments: Underlines food innovation's role in climate change
Image credit: PeakBridge

PeakBridge, a global investment firm in the agri-food tech sector, recently secured $187 million in capital commitments for its second growth fund. This significant investment shows the growing focus on innovation within the food and agriculture industries, particularly in the context of climate change.

Founded in 2020, PeakBridge aims to bridge the gap between emerging agri-food tech companies and the established food industry. 

Just yesterday, we reported about Norrsken VC that closed Fund II at €320M to back impact entrepreneurs in Europe.

PeakBridge recognizes the critical role of food and agriculture in addressing climate change. “We couldn’t tackle the climate challenge without addressing food,” Nadav Berger (founding general partner) reportedly stated. This focus on climate-conscious solutions resonated with investors, enabling them to surpass their initial fundraising target of $100 million.

Fund structure and investment strategy

PeakBridge’s Growth Fund II received backing from diverse investors, including global food and beverage companies like Grupo Bimbo and Royal Cosun, alongside financial institutions like Builder’s Initiative. 

The fund intends to invest in 16-20 companies, with an average investment of $10 million each. PeakBridge has already made eight investments, targeting companies like plant-based beverage maker Odyssey, animal-free dairy producer Standing Ovation, and cultured meat innovator VOW.

Investing in sustainable alternatives

One area PeakBridge identifies as potentially transformative is lab-made chocolate. Their investment in Win-Win focuses on creating a sustainable cacao replacement in response to rising cacao prices caused by climate-related factors. “One of the topics we think about is climate change, which will have more and more disruptions in commodities,” another co-founding partner reportedly said.

Beyond Win-Win, several other companies are exploring sustainable cocoa alternatives or replicating its properties through innovative methods. These include Ayana Bio’s focus on cellular cultivation for cacao extracts, Planet A Foods’ development of a sustainable cocoa alternative, and True Essences Food’s flavour symmetry technology applied to chocolate. Additionally, California Cultured and Voyage Foods are creating cocoa-free chocolate products.

What we think about the new funding update

PeakBridge’s successful fundraising and focus on climate-conscious innovation within the agri-food tech sector reveals the growing importance of this industry in addressing global challenges. 

With investments in areas like lab-made chocolate and sustainable cacao alternatives, PeakBridge contributes to a future where food production can be more sustainable and resilient in the face of climate change.

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