EU Impact Fund raises 300 million euros

The fund is designed to support companies in the bioeconomy and the biobased circular economy.

The European Circular Bioeconomy Fund (ECBF) has raised around €300 million. The money is to go toward financing growth companies in the bioeconomy and the biobased circular economy. The EU is supporting the fund. Originally, it was to be endowed with 250 million euros, but now it is 50 million euros more.

New shareholders include Landwirtschaftliche Rentenbank, Allianz France, Invest NL, GC, Firmenich, Stellar Impact, Dr. Hans-Riegel Holding and Bellevue Investments. Existing investors included big names such as Nestlé, BÜFA, NRW.Bank, Volkswohl Bund, Corbion, Dr. Hettich Beteiligungen, the Koehler Group and Wortmann Family Office, as well as three other investors.

The European Commission initiated the venture capital fund. Its goal: to build a long-term sustainable economy and drive the shift from a fossil-based to a bio-based circular economy. The fund was launched in 2020 with a €100 million commitment from the European Investment Bank (EIB).

"With the necessary expertise, the strong commitment of the ECBF team and the right partners, we can make our vision of a biobased economy a reality," hopes Michael Brandkamp, co-founder and managing partner of ECBF. "From solutions to address water stress to insect-based ingredients or the recycling of orange peels that would otherwise end up in waste, the fund's initial investments demonstrate the potential of the bioeconomy sector to contribute to addressing the environmental challenges of our time and the European Union's transition to a carbon-neutral circular economy," adds Christian Kettel Thomsen, Vice President of the European Investment Bank.