The Ireland Strategic Investment Fund is pleased to announce a €15m commitment to Next Food Capital, a private equity fund managed by Kharis Capital.
Next Food Capital (the “Fund”) invests in early-growth stage foodtech companies, helping them scale across European markets. Foodtech encompasses how technology and innovation impacts of food is discovered, purchased, delivered, prepared and consumed. As a sector, it includes diverse areas such as bio-engineered foods, emerging better-for-you brands, functional foods, software, hardware, and foodservice solutions. The fund seeks foodtech companies raising €5m or more to scale.
Kharis’ commitment to developing indigenous Irish businesses is complimented by the advisory role of Gordon Hardie, a seasoned foodtech executive with a wealth of experience across the world in the food industry in companies like Bunge and Aryzta.
One of the ISIF’s strategic pillars is to scale indigenous food and agricultural businesses to grow internationally with a focus on innovation, value-add and sustainability. As Ireland’s primary indigenous industry, food & agriculture is particularly important for regional and rural Ireland and forms a key part of ISIF’s investment strategy given its alignment with ISIF’s priority investment themes.
Next Food Capital aligns with the ISIF’s commitment to deliver climate and environmental targets through a Sustainable Food Systems approach and is expected to aid indigenous food businesses move up the value chain by applying best practices as they scale across Europe.