Rockstart AgriFood makes final close at €22+m

• The fund’s close at €22+ million, exceeding its initial target, allows Rockstart to further invest in top agritech and foodtech startups and to continue to co-invest in its AgriFood portfolio companies up to series B. 

• Rockstart and Vaekstfonden aim to develop a framework for reporting on impact metrics whilst staying true to the belief that commercially viable businesses have the most potential to make a lasting positive impact.

• Rockstart AgriFood has invested in 20 startups since its launch in mid-2019, making the fund one of the most active AgriFood investors in the world. 

Amsterdam, May 4, 2021: Rockstart, global accelerator-VC, announces the closing of its AgriFood fund at €22m with the participation of Vaekstfonden’s Green Future Fund, alongside new informal investors such as Joke Pronk, longtime Rockstart investors Marcel Beemsterboer, Jasper de Rooij and Hans Maltha, and new investor global dairy cooperative Arla Foods. The fund’s close at €22+ million exceeds its initial target and will allow Rockstart to further invest in top Agritech and Foodtech startups and to continue to co-invest in its AgriFood portfolio companies up to series B.

Rockstart funds the transformation to a regenerative and sustainable future by empowering founders to drive positive change at a global scale across three domains: AgriFood, Energy, and Emerging Technologies. Rockstart AgriFood backs impactful and scalable solutions led by passionate founders, leveraging emerging technologies and new business models that improve the food supply system from soil to gut. Rockstart AgriFood has invested in 20 startups since its launch in mid-2019, making the fund one of the most active AgriFood investors in the world in 2020. Rockstart AgriFood’s 2020  portfolio companies currently have a follow-on funding rate of over 70%, and the current portfolio of 20 startups since 2019 has collectively raised >€10m in total. Since its inception in 2011, Rockstart has invested in more than 250 startups and its alumni value to date is €1/2bn.

Investing together with strong partners

The newly raised capital, which has exceeded its initial target, highlights the growing AgriFood space, but also that Rockstart can perform with early stage investments, as both existing and new investors have contributed to the fund’s closure.

Vaekstfonden, the Danish Growth Fund, is the Rockstart AgriFood cornerstone investor and has supported the fund since before its initial close in 2019. The extra commitment from Vaekstfonden comes from their Green Future Fund. The ambition is that Rockstart and Vaekstfonden will co-develop a framework for reporting on impact metrics whilst staying true to the belief that commercially viable businesses have the most potential to make a lasting positive impact.

Arla Foods  is one of the newcomers to Rockstart’s group of investors. Arla Foods has decided to contribute to Rockstart AgriFood to further extend its innovation ecosystem.

The informal investors, who have also contributed to the fund’s close, are existing Rockstart investors with a strong position in the investment space and who once again reiterate Rockstart’s strong track record.

Investing in startups for a regenerative and sustainable future

With the aim of driving and measuring  positive impact on a global scale, Rockstart and its funds are also actively supporting the UN Sustainable Development Goals (SDGs). Moreover, the company is also aligned with the European Union long-term strategic vision for 2050 with its range of challenging pathways for the transition towards climate neutrality. 

These goals and visions set the stage for Rockstart’s global strategic approach for the years to come. The AgriFood Fund focuses on seven of the UN Sustainable Development Goals: Zero Hunger, Good Health and Wellbeing, Clean Water and Sanitation, Responsible Consumption and Production, Climate Action, Life Below Water and, last but not least, Life on Land.

The AgriFood fund is Rockstart’s first fund launched in 2019. Its second fund was launched in October 2020 and is dedicated to investing in energy startups. Rockstart AgriFood is planning to make new investments in the coming months in promising startups, specifically in the following themes: Regenerative & Future-Proof Production, Responsible & Circular Processes and Distribution, and Quantifiable Food Consumption. Applications for Rockstart AgriFood 2021 are now closed. The team is currently reviewing several hundred applications for our summer 2021 investments.

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About Vaeksfonden

Vaeksfonden is the Danish state’s investment fund. Working in close collaboration with banks and domestic and international investors, Vaekstfonden discovers and develops the companies that Denmark cannot afford to miss out on. The power of innovation, yield to society and responsibility are the three signposts that guide Vaekstfonden in finding and choosing new projects. Since 1992, Vaekstfonden has contributed more than DKK 33,8 billion (€ 4.5b) to help develop and grow more than 9.200 companies.