Oyster Bay launches €100 million fund for the food sector

Hamburg-based venture capitalist Oyster Bay has announced the final closing of its second fund. With a volume of over 100 million euros, the fund is one of the largest European VC funds focusing exclusively on the future-oriented food market. The fund volume was significantly oversubscribed; the investors include renowned institutions such as KfW and the European Investment Fund (EIF).

Food sector is an economic giant with challenges

The global food sector is the largest economic sector in the world: it generates 10 trillion US dollars in turnover, accounts for 12% of global GDP and employs around 40% of all workers. At the same time, the industry is a major driver of environmental problems, including a third of global CO₂ emissions, water scarcity and species loss. Nevertheless, only 8 percent of climate-related venture investments currently flow into food and agri-tech companies.

Successful investment model with a focus on impact and returns

Oyster Bay has already achieved high returns with Fund I (over 25 percent p.a.), making it one of the top 10 percent of European VC funds. Successful portfolio companies included Oatly, AirUp, True Gum and GoodBytz. The new Fund II is based on the same principle. Investing entrepreneurially, combining return and impact, and supporting founders who are transforming the global food system. Only less than 0.1 percent of the applications make it into the portfolio, which guarantees a particularly high quality of the selected start-ups.

We are not traditional financial investors, but entrepreneurs with a successful track record. Less than 0.1 percent of the start-ups that apply to Oyster Bay make it into the portfolio.

Felix Leonhardt, Managing Partner of Oyster Bay.

Startups along the value chain as the key to transformation

Oyster Bay sees enormous opportunities in the food industry supply chain in particular. Traceability technologies, AI-based demand planning and resilient supply chain solutions are considered key factors for a sustainable food industry. Founders who develop innovative solutions in this area are crucial for the transformation of the global food system.

The founders & Oyster Bay style

Behind Oyster Bay are Christoph Miller and Felix Leonhardt, both successful entrepreneurs themselves. Miller brings over 30 years of experience in the food sector, including building Columbus Drinks, while Leonhardt invested in sustainable food products early on and founded his own companies. This dual perspective as founder and investor characterizes the style of Oyster Bay.

Dau's main focus is on Food & Agri-Tech with measurable impact. Fund II has a volume of over 100 million euros, will be managed over 10 years and aims to make around 20 investments. The decisive criteria are founder quality over product and unit economics instead of short-term hype.