SHIFT Invest raises EUR 70 Million for the largest Dutch impact venture capital fund

SHIFT Invest raises EUR 70 Million for the largest Dutch impact venture capital fund

Today, SHIFT Invest announced that it has attracted an additional EUR 23 Million in the second close of its new VC fund SHIFT III. SHIFT Invest’s 3rd impact fund has been oversubscribed and is more than double the size of its predecessor fund.

The need for disruptive technologies is ever growing

The unprecedented pressure we humans are putting on biodiversity and the way we are changing the Earth’s climate, needs to be drastically limited. We need many forms of solutions, coming from academia, governments, international institutions and from businesses. New ways of thinking and disruptive technologies are key and part of the required actions. However, to bring technology solutions to the market and scale them to create significant impact, capital is required. SHIFT III, together with all Dutch technical Universities and the Dutch research institute TNO, selects the most promising technologies led by ambitious and high performing teams. SHIFT is an early stage investor and typically invests in concept stage, Seed and Series A rounds. SHIFT III also backs its portfolio companies in larger follow-on funding rounds (Series B and C) until exit.

Accelerating ‘tough technologies’ together with a broad range of investors

SHIFT III was created to accelerate companies disrupting the agro-food, biobased or environmentally high burden value chains. A successful first close last February included commitments from cornerstone investor Rabo Corporate Investments, family offices, Dutch regional development funds, Wageningen U&R and other universities as well as successful startup entrepreneurs who were backed by our previous funds. Half a year down the road, SHIFT welcomes new investors such as EIF and Corbion in order to back more ambitious entrepreneurs and create more impact. The European Investment Fund encourages investments in SHIFT’s focus areas and has put a clear commitment to the fund for the coming years. With its contribution, SHIFT III has become the biggest impact investor of its kind in the Netherlands.

Alain Godard, Chief Executive of the EIF, stated: “Climate change is on top of the agenda also for the financing world. The European Investment Fund fully supports the development of a European environmentally-conscious VC ecosystem, which can stimulate the emergence and market introduction of groundbreaking innovation with a positive and fundamental impact on climate and the environment. Such an ecosystem could significantly contribute to societal and economic change.”

Industry and family offices turning more and more towards meaningful investments

“We are seeing an increasing amount of family offices and corporates realizing that their contribution is needed for the urgent shift to a different and circular economy”, says Florentine Fockema Andreae, partner at SHIFT Invest. Partnering with Corbion, a new investor in the fund, provides synergies within the framework of industry knowledge and supporting early stage innovation. “At Corbion, addressing climate change is a business opportunity. We are very excited to join this impact focused innovation platform as this fits seamlessly with our Advance 2025 strategy that is focused around preserving what matters. Open innovation is essential in the transition toward a world in which our planet's natural boundaries are respected”, says Marcel Wubbolts, Chief Science & Sustainability Officer at Corbion.

Largest seed & early stage impact investor in the Netherlands

SHIFT Invest has been an impact investor long before ’impact investing’ emerged as an industry itself.  In 2009, SHIFT started its first impact fund and invested in, among others, Protix, ChainCraft and Vandebron. SHIFT’s professional fund management can build on long lasting relationships, years of experience in venture capital, a strong reputation and many good and a handful of bad practices. This is why so many investors have committed to the fund: to make a difference and contribute to our shared impact goal of ‘Turning investments into impact’.