Rockstart, a global early-stage accelerator-VC, announced the launch of its second AgriFood fund. The new fund furthers the firm’s purpose to fund the transformation to a regenerative and sustainable future. Rockstart reinforces its commitment as the initial impact investor for early-stage startups with AgriFood Fund II, demonstrating its long-term dedication and support.
The fund targets a final close at €50m and plans to invest in up to 50 startups within the coming 5 years. The fund is backed by The Export and Investment Fund of Denmark (EIFO), De Hoge Dennen, and Danish Agro, amongst other new and existing backers.
Rockstart AgriFood Fund II marks Rockstart’s fourth fund, following launches in AgriFood (2019), Energy (2020), and Emerging Tech (2022). Rockstart AgriFood Fund II will continue to fund early-stage purpose-driven founders scaling impactful solutions by leveraging emerging technologies and new business models that improve our food supply system from soil and ocean to gut.
This fund is actively seeking investments in regenerative solutions that restore our soils and oceans to become CO2 capture powerhouses, in responsible and circular innovations that create value from wasted food while reducing food loss, and in quantifiable solutions and tools that provide consumers with better access to nutritious food that tastes good and does good.
Selected startups receive an initial investment and gain access to Rockstart’s tailor-made AgriFood accelerator program, running biannually throughout spring and autumn. The customized program prepares startups for their next growth stages and helps them make a positive impact in the long term. The program includes custom early-stage sessions on fundraising, scaling, and ESG data collection and reporting, among other valuable resources preparing the founders to maximize their impact. Rockstart AgriFood Fund II will follow-on invest into its portfolio companies, aligning with the market up to series B.
“We are on a mission to empower purpose-driven founders on a global scale. Guiding startups through scaling and offering access to capital, especially in challenging markets, remains fundamental to our founder-focused ethos. We’re excited about our ongoing collaborations with partners, mentors, and stakeholders, forging impactful alliances that drive positive change across diverse domains,” said Rune Theill, CEO and Co-Founder, Rockstart
“Since 2017, we’ve been committed to championing a regenerative and sustainable food system, investing in 50+ startups. With the launch of our new fund, we continue this mission by investing in early-stage agrifood startups, aligning with EU climate and ESG targets to build a better future. Our appreciation extends to existing and new investors for their unwavering support. The trust from organizations like EIFO, De Hoge Dennen, and Danish Agro makes us more determined than ever to continue enabling progress within the sector,” commented Mark Durno, Managing Partner AgriFood, Rockstart
Since its launch in 2019, Rockstart AgriFood Fund I invested in 50 ag and food tech startups, whom we are proud to work alongside. Startups like Orderlion (software for supply chain optimization), Beyond Leather Materials (upcycling food waste to create alternative leather textiles), Cordulus (super accurate micro-climate forecasting), and Reduced (upcycling side streams to create natural food flavors and ingredients) have raised over €60m collectively since the fund’s initial investment in July 2019.
Rockstart has LPs in its funds, including EIFO, family offices like De Hoge Dennen, large pension funds like APG, and corporates like Arla Foods and Eneco. Over the years, Rockstart has co-invested alongside Balderton, EQT, Endit, Astanor, Accel, SET Ventures, AgFunder, and ForwardOne, in addition to many other VCs, informal investors, and CVCs.
