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Wednesday, May 22, 2024
HomeTechnology NewsCardumen Capital begins investing with its fund, Cardumen Fund III: AgriFoodTech

Cardumen Capital begins investing with its fund, Cardumen Fund III: AgriFoodTech

Shoal Capital has announced the first closing of its third fund, Shoal Fund III: AgriFoodTech, to invest in European and Israeli companies in this sector. The Venture Capital manager has made more than 30 investments to date in high-tech companies.

Cardumen Fund III: AgriFoodTech is a fund Article 9 SFDR (with sustainable investment objective) launched in collaboration with Basque Culinary Center to invest in high-tech agri-food companies in Series A. Specifically, the Fund will invest in companies in the vertical of AgriTech and FoodTech, within areas such as precision agriculture, biostimulants, agriculture 4.0, and alternative proteins, among others. The fund has collected commitments from the Basque Government, Provincial Council of Gipuzkoa, Family offices, the Basque Culinary Center, corporations from the AgriTech and FoodTech sectors, institutional investors, and other strategic investors.

With this fund, Cardumen Capital will expand its investment scope throughout Europe. “We are looking for entrepreneurs using technology to solve big problems throughout the value chain of the food sector,” says Sejal Ravji. The doctor has two decades of experience in the food sectorbeing responsible for innovation and product development in companies such as Pascual Innoventures, Nestlé, GBFoods, and Northern Foods.

For its part, Igor de la Sota, founding partner of Cardumen Capital has indicated: ““We see an excellent opportunity to invest in great businesses with the potential to transform the industry.”

After a revolution in renewable energy generation and electric mobility, the third wave of investment will take place in the food sector, as this is the third industry that generates the most greenhouse gases worldwide,” comments Gonzalo Martínez de Azagra, Founding Partner of Cardumen Capital.

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We have been seeing great opportunities in our acceleration programs for years and we are pleased to complete our leading positioning in the fields of gastronomy and entrepreneurship,” indicates Asier Alea, Director of Global Development of the Basque Culinary Center.




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