Participated · Equity · Jun 2026

Founded in 2016, Innovafeed develops technology to rear and transform the Black Soldier Fly (Hermetia illucens) at industrial scale to produce protein and oil ingredients for animal and plant nutrition. Its proprietary, sensor-driven and partially robotic production process and wet transformation method aim to optimise breeding conditions and product digestibility. The company says its Nesle production unit is fully operational and has produced over 15,000 tons of protein and oil in three years while increasing volumes tenfold and cutting production costs by seven. Innovafeed plans to prioritise commercial deployment of its Hilucia™ product ranges—particularly in functional segments of aquaculture and pet food—while redirecting investment toward industrial equipment, applications development, and operational excellence. As part of this new phase the company is reorganising activities around Nesle, integrating R&D from Gouzeaucourt and planning a workforce reduction tied to that integration. Innovafeed reports strong commercial traction with revenues doubling annually and emphasizes the environmental benefits of its circular industrial model.

Participated · Equity · Nov 2024

TRACT provides a software platform that visualises end-to-end supply chains, connects supplier data, and delivers clear sustainability metrics across multiple commodity categories such as cocoa, coffee, corn and cotton. Originally created in collaboration with Archer Daniels Midland, Cargill, Louis Dreyfus Company and Olam Food Ingredients, the company now serves many of the world’s largest CPG brands and commodity traders, enabling them to map sourcing portfolios, monitor deforestation risk and track emissions. By turning complex agrifood data into actionable insights, TRACT supports sourcing leaders who face increasing regulatory and stakeholder pressure. The platform’s core value lies in integrating disparate data systems to reveal sourcing risks and resilience gaps. With its newly secured capital, TRACT plans to accelerate global expansion, deepen data-system integrations and onboard additional enterprise clients. Although specific revenue or user figures were not disclosed, the business is positioned for rapid growth as sustainability reporting requirements tighten worldwide.

Led · Equity · Apr 2023

Harpe Bioherbicide Solutions is an ag‑tech company focused on natural, non‑selective herbicide formulations that use active ingredient compounds found in plant extracts. Its product portfolio targets wide‑spectrum control of broadleaf and grass weeds and is intended for pre‑, post‑ and desiccation use patterns. The company is also developing herbicide‑tolerant row crop systems to enable in‑season use of its proprietary plant‑based active compounds and to expand its intellectual‑property portfolio. Harpe says tailored premix formulations aim to improve control of weeds resistant to current synthetic chemistries, facilitating reduction or rotation of synthetic herbicides. The company positions its solutions for organic and regenerative agriculture as well as row, specialty, commercial and consumer markets. The announced financing will advance R&D toward commercial readiness and further development of the herbicide‑tolerant crop systems. Harpe Bioherbicide Solutions is a pre-commercial agricultural technology company based in Research Triangle Park, N.C., focused on plant-based herbicidal active compounds. Led by CEO Bill Buckner, the company aims to expand opportunities for organic agriculture while reducing, replacing, and synergizing with synthetic chemical use across row and specialty crops, commercial, and consumer markets. Harpe closed more than $3 million in financing to further advance research and development and to strengthen its intellectual property portfolio. The financing supports a series of plant-based herbicidal active compounds that underpin the company's IP strategy. As part of the financing, former U.S. Ambassador Kip E. Tom was added to the board, which includes Bill Buckner, Dr. Chad Brommer, Daniel Pepitone and Chairman Aidan Connolly. Dr. Blake Stevens (Vice President of Science & Technology at Alexandria Real Estate Equities and Head of Alexandria LaunchLabs – AgTech) and Craig Herron (Managing Principal of iSelect Fund) will join the board as observers.

Participated · Series A · Sep 2022

Bond Pet Foods began as a maker of plant-based pet treats and is shifting to develop precision-fermented, nature-identical chicken, beef, fish and other meat proteins for pet food. The company has partnered with Hill’s Pet Nutrition to develop a craft meat protein and is positioning to supply other established pet-food brands rather than building its own consumer-facing line. Bond is based in Boulder, Colorado, and plans to scale production at a new 15,000-square-foot facility in Boulder while tripling the size of its team. Management expects the facility to be complete in Q1 2023 and initial meat proteins ready for commercialization in roughly two years, including pilot feeding programs and regulatory work. The move is framed against a global pet food market valued at $110 billion in 2021 and projected to grow to $164 billion by 2029. Since 2017 the company has raised a total of $20 million, including a $17.5 million Series A in June. Bond Pet Foods develops dog and cat foods produced via microbial fermentation to make real animal proteins without animals. In August the startup announced a prototype of its "chicken without the chicken" product. Co-founder Rich Kellman said Bond is currently the only company developing meat proteins through microbial fermentation in the pet food space. The company plans to develop other cultured meat proteins for pet nutrition, including turkey, pork, and beef, and is exploring applications in the human food space. Financially, Bond completed $1.2 million in seed funding in December and a seed extension this year, bringing private raises to just under $2M to date; it also received a $250,000 grant from the Colorado OEDIT Advanced Industries Accelerator Grant Program. Bond states its mission is to be an ally for all animals by finding a better way to make complete, nutritious food for pets. Bond Pet Foods is a biotechnology company that produces animal-free, protein-rich ingredients for pet food by using fermentation to grow muscle proteins in microbes such as yeast. The company adapts fermentation technology used for cheese-making and insulin production to harvest high-quality proteins nutritionally identical to chicken, turkey, beef, pork and fish. Its proprietary process inserts animal muscle protein genes into microbes, ferments them with simple sugars, vitamins and minerals, and uses the resulting proteins as the foundation of complete pet-food recipes. Bond plans to use the seed proceeds to drive R&D and scale its animal protein production. It intends to debut its first consumer product — a protein-packed dog treat bar made with a pure yeast protein — early next year. The company reported closing a $1.2M seed round to support these efforts.

Participated · Series C · Jul 2021

Nature's Fynd develops Fy™, a “new-to-the-world” protein sourced from microbes originally found in Yellowstone hot springs and produced using breakthrough fermentation technology. The company makes non-GMO, animal-free meat and dairy alternatives and says its process requires a fraction of the resources of animal agriculture. Its early pre-release breakfast patties and cream cheese sold out in 24 hours, and its products are now available in a growing number of U.S. retailers, including Whole Foods Market. Nature's Fynd emphasizes impact and decentralized production as part of its mission to improve global protein access. The company has substantial capital: it has raised $500M following a $350M Series C last year. Leadership highlights the potential to deploy fermentation technology in low- and middle-income farming communities to boost income and nutrition. Nature's Fynd develops Fy, a new-to-the-world nutritional fungi protein grown using a fermentation technology that requires a fraction of the land, water and energy of traditional agriculture. The company says Fy is versatile and is being used to make meatless and dairy-free products, including a Fy Breakfast Bundle that sold out in 24 hours. Nature's Fynd has scaled production using robotics and automation in a state-of-the-art facility in Chicago’s Union Stockyards. The recent financing will be used to expand production capacity, build partnerships across retail and QSR channels, extend the product portfolio, and lay the foundation for global reach. Management has signaled a particular focus on expansion into Asia where it sees substantial demand for sustainable protein. The company expects to launch branded Fy-based foods in selected U.S. retailers later in the year. Nature’s Fynd produces Fy™, a new-to-the-world nutritional fungi protein derived from a microbe originally discovered in Yellowstone geothermal springs. Born from research conducted for NASA, the company positions Fy as a complete protein that uses a fraction of the resources of traditional agriculture and has an extremely low carbon footprint. Nature’s Fynd plans commercial product launches in 2021 and aims to introduce multiple product offerings built on Fy. To support commercialization and scale production, the company has added several food-industry veterans across food innovation, manufacturing, sales, and fermentation engineering. Financially, Nature’s Fynd secured $45 million in additional venture debt and equipment financing commitments and has raised over $150 million in equity and debt financing to date. Management says the financing and hires will accelerate the go-to-market strategy, enable more product offerings, and ensure capital efficiency for capital expenditures. Nature's Fynd produces a protein derived from a microbe originally discovered in the geothermal springs of Yellowstone's ancient volcano. Its ingredient contains all nine essential amino acids and also includes dietary fiber, calcium and vitamins. The company plans to commercialize food and beverage products across breakfast, lunch, dinner and snack occasions. Production began this month at its new 35,000-square-foot manufacturing facility on the site of the historic Union Stockyards in Chicago's South Side. Nature's Fynd employs about 50 people across its Chicago headquarters and a Bozeman, Montana R&D center. The company emerged out of NASA-supported research into organisms that thrive in Yellowstone National Park's geothermal springs and is led by CEO and co-founder Thomas Jonas. Sustainable Bioproducts develops an innovative fermentation technology to grow edible protein derived from research on extremophile organisms. The technology originated from studies of organisms in Yellowstone National Park’s volcanic springs and is intended to produce protein with high nutritional value and minimal environmental impact. The company is led by CEO and cofounder Thomas Jonas and is positioned in the food-technology/biotech space. It has received financial and in-kind support from agencies including NASA, the National Science Foundation, the National Park Service, the EPA, and the USDA, as well as support from the State of Montana and Montana State University. The company operates out of the University of Chicago’s Polsky Center for Entrepreneurship and Innovation. Financially, the company completed a $33M Series A financing to advance its technology.