European Circular Bioeconomy Fund closes second round, reaching $216M

In Luxembourg, ECBF Management GmbH announced a second closing of the European Circular Bioeconomy Fund (ECBF). Reaching EUR175 million, ECBF has more than doubled its fund-size within two months after starting its operations. ECBF is the first venture fund exclusively focusing on the bioeconomy and circular bioeconomy in Europe. With a targeted fund-size of EUR250 million, ECBF will be an important financial instrument contributing to the European Green Deal making Europe climate neutral by 2050. 

For its second closing, ECBF raised EUR93 million from a diverse group of private and public investors. New investors include Nestlé, the world’s largest food and beverage company; Neste, the world’s leading producer of renewable diesel and sustainable aviation fuel; and Volkswohl Bund Versicherungen, a German insurance company. One family office and the NRW.BANK, the promotional bank of North Rhine-Westphalia (NRW), also joined the round.