Cardumen Capital Begins Investing with Its Third Fund, Cardumen Fund III: AgriFoodTech

Cardumen Capital has announced the first closing of its third fund, Cardumen Fund III: AgriFoodTech, with which it will start investing in European and Israeli companies in the AgriFood sector. The Venture Capital management firm has made over 30 investments to date in high-tech companies.

Cardumen Fund III: AgriFoodTech is an Article 9 SFDR fund (with a sustainable investment objective) launched in collaboration with Basque Culinary Center to invest in high-tech agri-food companies in Series A. Specifically, the fund will invest in companies in the AgriTech and FoodTech verticals, within areas such as precision agriculture, biostimulants, agriculture 4.0, and alternative proteins, among others. The fund has garnered commitments from the Basque Government, Gipuzkoa Provincial Council, family offices, Basque Culinary Center, corporations in the AgriTech and FoodTech sectors, institutional investors, and other strategic investors.

With this fund, Cardumen Capital will expand its investment scope throughout the European continent. "We are looking for entrepreneurs using technology to solve significant problems throughout the food sector's value chain," says Dr. Sejal Ravji. Dr. Ravji has two decades of experience in the food sector, having been responsible for innovation and product development at companies such as Pascual Innoventures, Nestlé, GBFoods, and Northern Foods.

Igor de la Sota, Founding Partner of Cardumen Capital, indicates: "We see a great opportunity to invest in large businesses with the potential to transform the industry."

"After a revolution in renewable energy generation and electric mobility, the third wave of investment will take place in the food sector, as it is the third industry that generates the most greenhouse gases globally," comments Gonzalo Martínez de Azagra, Founding Partner of Cardumen Capital.

"We have been seeing great opportunities in our acceleration programs for years, and we are pleased to complete our leading position in the fields of gastronomy and entrepreneurship," says Asier Alea, Director of Global Development at Basque Culinary Center.