New commitments are driven by growing demand for the innovative and sustainable food and agriculture proposition of the fund.
Amsterdam-based investment firm Convent Capital has invested in circularity since 2011 and launched its article 9 sustainable AgriFood Growth Fund in April 2022.
Convent is proud to announce the successful second close of its AgriFood Growth Fund now at EUR 100m. The increase includes a €10m commitment from the Dutch insurance company a.s.r.
The fund focuses on investing in innovative and sustainable food and agriculture businesses across Europe. The Fund’s mission is to generate both financial returns and positive environmental impact by supporting companies that are committed to improving the sustainability and efficiency of the food system.
“We are thrilled to have reached this important milestone in the growth of our Food and Agri Impact Fund.” said Convent Capital’s Principal Bor Boer “We believe that sustainable food and agriculture are critical to the future of our planet and we are proud to have the support of investors with the like of a.s.r. who share our values and vision. As one of the largest investors in Dutch agricultural land, working with a.s.r. will offer our portfolio companies a great link to the Dutch primary agricultural sector.”
The Fund has already made several investments in companies that are working to transform the food and agricultural sector, including phytogenic feed additive company AHC and biobased chemical company Chaincraft. The third and latest investment of the fund was as a lead investor in the USD 43m round of the world’s leading precision pollination company BeeHero. The Fund’s team of experienced investors and sector experts will continue to identify and support businesses that have the potential to create both financial returns and a positive impact.
a.s.r. ranks among the top 10% most sustainable insurers globally (Dow Jones Sustainable Index) and plays a leading role in the financial sector as an impact investor, solving social and environmental issues. Supporting biodiversity and protecting the environment is an important element in the a.s.r. sustainable strategy, resulting in substantial financial commitments to reduce carbon emissions and sustainable use of land and water. In the Netherlands, a.s.r manages about 43,000 ha of agricultural and horticultural land.
“We are pleased to support the AgriFood Growth Fund as it invests in innovative and sustainable food and agriculture businesses.” said a.s.r.’s Head of Sustainable Investment Raquel Criado Larrea. “As a responsible investor, a.s.r. believes in investing in businesses that are committed to creating positive social and environmental impact, and we are excited to partner with Convent Capital in this important mission.”
About a.s.r. asset management
a.s.r. asset management, the Dutch asset manager, has well over €75 billion in assets under management (FY: 2022). We are a down-to-earth, Dutch asset manager that recognises the importance of sustainable investing. Customers of a.s.r. asset management include pension funds, insurers, donor-advised funds, educational institutions and government bodies. We work together with them on a daily basis to achieve a sound return. A return that contributes to their goals. a.s.r. asset management is part of ASR Nederland N.V. For more information, please visit www.asrvermogensbeheer.nl.
About Convent Capital
Founded in 2011, Convent Capital is an independent asset manager based in the Netherlands. With two funds, it focuses on growth and buy out propositions in predominantly Europe.
Since its early beginnings, Convent Capital has had a strong focus on sustainability and a dedication to the transition from the current linear economy to a circular economy. Its long-term strategy creates sustainable, high returns for its stakeholders.