The Green Generation Fund (GGF), launched by founders Manon Littek and Janna Ensthaler, has raised €100 million for investments in innovative startups in the foodtech and greentech sectors. The European Investment Fund (EIF) is contributing €25 million, secured by an EU budget guarantee under the new InvestEU program. KfW Capital is contributing €10 million. EU Commissioner for Economic Affairs and Energy Paolo Gentiloni pointed out that further investment in the ecological transition is necessary:
"It's good that the new InvestEU program supports this EIF investment in startups specializing in green technologies. This provides them with the capital they need to invest in innovation, expansion, and jobs. And many more innovators are sure to join."
The GGF invests exclusively in sustainable startups that make significant progress in the areas of CO2 avoidance, circular economy, climate and resource protection, health promotion, and biodiversity. The fund also aims to support the sectors Foodtech and Greentech in Germany, Europe, and the USA and reduce CO2 emissions in the agricultural and food sector. Innovative technologies for plant protein extraction, fermentation, and cell cultivation are supported, for example. Other fund topics include the avoidance of preservatives in the food industry, as well as more sustainable packaging, supply chains, carbon capture solutions, and greentech software.
Solutions to the big problems
Before founding GGF, Manon Littek served as CEO of Katjesgreenfood for five years and is a member of the supervisory board of Upfield, the world's largest manufacturer of plant-based foods. Janna Ensthaler is a serial entrepreneur in the food, cosmetics, and technology industries in Europe and the US. In addition to the cosmetics box mail-order company Glossybox and the restaurant chain Kaiserwetter, she founded Event Inc.
Manon Littek, co-founder of the Green Generation Fund, says:
"The Green Generation Fund is now investing in the third wave of the plant-based food revolution. This involves clean, functional, healthy plant proteins produced through fermentation, cell culture, and new ingredients like mushroom roots. Many startup founders are vegans themselves, live sustainably, and aren't looking for short-term profits. They value funds like the Green Generation Fund that share these new ideas with them and help them change the world."
And Janna Ensthaler, co-founder of the Green Generation Fund, adds:
"We rely on startups that develop solutions to the major problems of our time. More and more governments, for their part, are recognizing their responsibility and are implementing stricter regulations and massive subsidies. Generation Z and Millennials reject factory farming and don't want a lifestyle that pushes our blue planet to its limits. They are enthusiastic about the plant-based food revolution and want less CO2 and more sustainability. And these are precisely the kinds of solutions we invest in."
