Venture capitalist Oyster Bay launches new 100 million euros fund
Hamburg-based venture capitalist Oyster Bay has announced the final closing of its second fund. With a volume of over 100 million euros, it is one of the largest European venture capital funds dedicated exclusively to the food industry. Investors include the European Investment Fund (EIF) and KfW.
There is still a lot of potential in the food sector
With the food sector, Oyster Bay is addressing the world's largest industry, which is also responsible for significant climate-damaging emissions. Nevertheless, only 8 percent of climate-related venture investments have gone into food and agri-tech so far. "Until now, food has only been seen as a short-lived trend investment in the VC sector – that's wrong. Nutrition is the most underestimated issue of the future in our society, and we are trying to find answers to complex problems with our investments," says Christoph Miller, founder and managing partner of Oyster Bay. He has more than 30 years of industry experience and built up Columbus Drinks, among other things.
Oyster Bay has already demonstrated its economic success with its first fund. The portfolio included well-known companies such as Oatly, air up, True Gum, and GoodBytz. "We are not traditional financial investors, but entrepreneurs with a successful track record. Less than 0.1 percent of the startups that apply to Oyster Bay make it into the portfolio—our investment is a seal of quality. We only work with the best, those whose solutions improve the food system in a sustainable way," says Felix Leonhardt, managing partner at Oyster Bay. As the founder of the startup Purefood, he himself received an investment from Oyster Bay in 2019 and switched sides after the exit.
