On the mission to bring better food for more people, Kost Capital announced its first close of a €25 million target fund with Danish Sovereign fund EIFO, the founding LPs Kasper Hulthin, Christian Tang-Jespersen, Mark Emil Hermansen and Jacob Lee Ørnstrand alongside the General Partner Bodil Sidén.
Kost Capital builds its investment thesis from food, powered by the bioeconomy. According to the fund, the way humans have exploited and consumed resources is no longer an option, and climate change and a growing population require drastic change.
“We are what we eat, yet the food system is broken. A growing population, climate change, food waste, health issues and policy changes require rapid funding now to ensure sustainability, efficiency and resilience in the future of food. We need to bring Better food for more people, that’s why we started Kost Capital,” said Bodil Sidén, General Partner Kost Capital.
Kost Capital will invest in pre-seed and seed startups across Europe, focusing on B2B inputs in the future of food and has already made its first three investments in Estonian palm oil replacement company Äio, the French infant formula company Numi and the Danish ingredient company Nutrumami.
“We have all tried alternatives that do not taste good, we believe the bioeconomy will bring better food for more people. Äio and Numi are great examples of companies that are solving massive problems with enormous potential in scalability as well as impact,” added Sidén.
During last year Kost Capital built a hub in Frederiksberg. With a test kitchen downstairs and the close collaboration with the food development studio, Kost Studio, Kost aims to bridge the gap between universities and markets and make sure the most interesting innovation gets the right funding. The vision is to fund the next multi-billion dollar industry out of Denmark.
According to Kost Capital General Manager, Denmark has a proud history of food and the most interesting fermentation and biotechnology companies have started here. Denmark’s gastronomy scene is also world-class but Michelin star restaurants only serve 40 seats per night. “We need to achieve scale to reach more people and the key is to combine bioeconomy and gastronomy. We want to empower the next generation of these companies and establish Denmark as the bioeconomy hub in Europe it has all the potential to be,” added Sidén.
Read the orginal article: https://www.eu-startups.com/2024/01/copenhagen-based-kost-capital-completes-first-close-of-e25-million-target-fund-to-invest-in-foodtech-in-europe/
