ECBF oversubscribed closing at €300m

According to the industry experts, the biologisation of industrial production by means of sustainable bacterial-enzymatic or cell-culture-based manufacturing of  fine chemicals, food and feed and novel bioplastics will become the next Big business after digitalisation. According to the ECBF, this refers to "the transformation from a linear, fossil-based economy to a sustainable, bio-based economy in which the European bioeconomy will play a decisive role".

After the creation of a fund was recommended by the 2017 Innovfin Advisory study Access-to-finance conditions for Investments in Bio-Based Industries and the Blue Economy to eliminate the financing gap in the bioeconomy sector, the ECBF kicked-off with an initial €100m contribution of the European Investment Bank in 2000 to finance growth companies in the bioeconomy and biobased circular economy. Politically the ECBF was backed because the European Commission believes that a circular bioeconomy might allow to continue a neoliberal growth policy with a smaller ecologic and climate footprint in line with the UN sustainablity goals.

In the course of the two previous interim steps, the Landwirtschaftliche Rentenbank, Allianz France, Invest NL, GCV, Firmenich, Stellar Impact (a vehicle managed by Telos Impact), Dr Hans-Riegel Holding and Bellevue Investments, among others, joined the shareholder group. Companies such as Neste, Nestlé, BÜFA, NRW.BANK, Volkswohl Bund, Corbion, Dr. Hettich Beteiligungen, Koehler Group as well as the Wortmann Family Office and three other investors have already participated in the previous rounds and thus joined the fund’s mission. In total, the group of investors now comprises 25 shareholders from eight countries.

Michael Brandkamp, co-founder and managing partner of ECBF, comments: "We are proud and grateful to have received the trust of investors from many different countries to advance this important growth sector. Surpassing our initial target of €250 million is a big commitment for us: with the necessary expertise, the strong commitment of the ECBF team and the right partners, we can make our vision of a bio-based economy a reality. Many European founders have enormous potential to ride the wave of the bio-revolution and we will do everything we can to support them. This is the only way we can significantly advance a sustainable economy – and thus a secure future for all."

So far, the following European players of the "circular bioeconomy" are in the ECBF portfolio: Prolupin GmbH, Peel Pioneers B.V., Aphea.Bio B.V., Nuritas Ltd, Elicit Plant SAS and recently added Protix B.V.