Seventure Partners Health For Life Capital Participates In $35 Million Series B Financing Of Visionary Food Science Company Mycotechnology Inc
• Health for Life Capital™ is the only non-American investor alongside prestigious strategic and financial investors
• This financing illustrates growing interest of investors in alternative natural food science
• Funds to be used to commercialize and manufacture Mycotechnology’s sustainable non-GMO vegan mushroom protein
Paris, France – 18 September 2017 – Seventure Partners, one of Europe’s leaders in financing innovation, and a world-leader in the venture investment in the microbiome sector, today announces that, through its Health for Life Capital™ investment vehicle, it has participated in a US$35m financing of MycoTechnology, a company harnessing nature to develop unique innovative ingredients to solve some of the toughest challenges in the food and beverage industry. Founded in 2013 in Colorado, US, MycoTechnology utilises a proprietary mushroom-based food-processing platform to transform the flavour of agricultural products. The platform is used to provide the food and beverage industry with innovative solutions, such as its ClearTaste™, an organic flavour modifier used to improve flavour profiles and block bitterness in food. Recently, Mycotechnology announced the launch of Puretaste™. Unlike some other novel proteins manufactured in tanks via a fermentation process, Puretaste™, a slightly nutty-tasting spray dried powder containing 77-80% protein by dry weight, does not use GMO yeast or other micro-organisms; instead using naturally occurring mycelium (the filament-like roots) from shitake mushrooms to convert feedstock into high quality complete vegan protein.
In 2015, Health for Life Capital™, co-led an $8M Series A funding round with American investors. The Series B round sees Health for Life Capital™ now participating with Kellogg Ventures, Bunge Ventures, S2G and Emerson Collective.
Isabelle de Cremoux, CEO and Managing Partner of Seventure Partners, said: “Finding innovative and healthy ways to increase the world’s food supply, whilst managing the environment, is a major challenge. MycoTechnology’s approach could revolutionize the food and drinks industry, providing manufacturers with environmentally-friendly and cost-effective ingredients to help them drive innovation. The market is responding well to organic ingredients such as MycoTechnology’s and it is therefore an attractive candidate for investment through Health for Life Capital™, bringing together food science and innovation.”
“Bringing together strategic and financial investors around breakthrough innovations is in our DNA. That is what we do in our funds such as Health for Life Capital™, and also in our portfolio companies,” added de Cremoux.
Mycotechnology has just signed a strategic partnership with one of the global leaders in natural ingredients to promote and distribute Puretaste™, which will be announced in the coming days.
- ENDS -
Notes To Editors
About Seventure Partners
With over €660m in assets under management as of the end of 2016, Seventure Partners is a leading venture capital firm in Europe. Since 1997, Seventure Partners has invested in innovative businesses with high growth potential in two fields: Digital technologies in France and Germany, and Life sciences across Europe, Israel and North America. In Life sciences, the four areas of focus include biotechnology and pharmaceuticals, connected health and medtech, industrial biotechnology, and last but not least: the MICROBIOME, nutrition, foodtech and personalized medicine. Investments can range between €500k and €10m per round, or up to €20m per company, from early to late stage. Recently, Seventure Partners successfully launched Health for Life Capital™ which has attracted strategic investments from prestigious organizations including Danone, Tereos, Tornier, Lesaffre, Bel and Novartis, as well as entrepreneurs and financial institutions.
Seventure is a subsidiary of Natixis Global Asset Management. Natixis is the corporate investment management and financial services arm of Groupe BPCE, the second-largest French bank.
For more details: http://www.seventure.fr/en/ Twitter @SeventureP Issued for and on behalf of Seventure Partners by Instinctif Partners.
For more information please contact:
At the Company
Isabelle de Cremoux
CEO and Managing Partner of Seventure Partners
Tel: + 33 1 58 19 22 77
Email: isabelle.decremoux@seventure.fr
International
Instinctif Partners
Sue Charles / Gemma Harris
Tel: +44 20 7866 7860
Email: seventure@instinctif.com
France
Agence Yucatan
Caroline Prince-Albagnac
Tel: +33 1 53 63 27 35
Email: cprince@yucatan.fr
• This financing illustrates growing interest of investors in alternative natural food science
• Funds to be used to commercialize and manufacture Mycotechnology’s sustainable non-GMO vegan mushroom protein
Paris, France – 18 September 2017 – Seventure Partners, one of Europe’s leaders in financing innovation, and a world-leader in the venture investment in the microbiome sector, today announces that, through its Health for Life Capital™ investment vehicle, it has participated in a US$35m financing of MycoTechnology, a company harnessing nature to develop unique innovative ingredients to solve some of the toughest challenges in the food and beverage industry. Founded in 2013 in Colorado, US, MycoTechnology utilises a proprietary mushroom-based food-processing platform to transform the flavour of agricultural products. The platform is used to provide the food and beverage industry with innovative solutions, such as its ClearTaste™, an organic flavour modifier used to improve flavour profiles and block bitterness in food. Recently, Mycotechnology announced the launch of Puretaste™. Unlike some other novel proteins manufactured in tanks via a fermentation process, Puretaste™, a slightly nutty-tasting spray dried powder containing 77-80% protein by dry weight, does not use GMO yeast or other micro-organisms; instead using naturally occurring mycelium (the filament-like roots) from shitake mushrooms to convert feedstock into high quality complete vegan protein.
In 2015, Health for Life Capital™, co-led an $8M Series A funding round with American investors. The Series B round sees Health for Life Capital™ now participating with Kellogg Ventures, Bunge Ventures, S2G and Emerson Collective.
Isabelle de Cremoux, CEO and Managing Partner of Seventure Partners, said: “Finding innovative and healthy ways to increase the world’s food supply, whilst managing the environment, is a major challenge. MycoTechnology’s approach could revolutionize the food and drinks industry, providing manufacturers with environmentally-friendly and cost-effective ingredients to help them drive innovation. The market is responding well to organic ingredients such as MycoTechnology’s and it is therefore an attractive candidate for investment through Health for Life Capital™, bringing together food science and innovation.”
“Bringing together strategic and financial investors around breakthrough innovations is in our DNA. That is what we do in our funds such as Health for Life Capital™, and also in our portfolio companies,” added de Cremoux.
Mycotechnology has just signed a strategic partnership with one of the global leaders in natural ingredients to promote and distribute Puretaste™, which will be announced in the coming days.
- ENDS -
Notes To Editors
About Seventure Partners
With over €660m in assets under management as of the end of 2016, Seventure Partners is a leading venture capital firm in Europe. Since 1997, Seventure Partners has invested in innovative businesses with high growth potential in two fields: Digital technologies in France and Germany, and Life sciences across Europe, Israel and North America. In Life sciences, the four areas of focus include biotechnology and pharmaceuticals, connected health and medtech, industrial biotechnology, and last but not least: the MICROBIOME, nutrition, foodtech and personalized medicine. Investments can range between €500k and €10m per round, or up to €20m per company, from early to late stage. Recently, Seventure Partners successfully launched Health for Life Capital™ which has attracted strategic investments from prestigious organizations including Danone, Tereos, Tornier, Lesaffre, Bel and Novartis, as well as entrepreneurs and financial institutions.
Seventure is a subsidiary of Natixis Global Asset Management. Natixis is the corporate investment management and financial services arm of Groupe BPCE, the second-largest French bank.
For more details: http://www.seventure.fr/en/ Twitter @SeventureP Issued for and on behalf of Seventure Partners by Instinctif Partners.
For more information please contact:
At the Company
Isabelle de Cremoux
CEO and Managing Partner of Seventure Partners
Tel: + 33 1 58 19 22 77
Email: isabelle.decremoux@seventure.fr
International
Instinctif Partners
Sue Charles / Gemma Harris
Tel: +44 20 7866 7860
Email: seventure@instinctif.com
France
Agence Yucatan
Caroline Prince-Albagnac
Tel: +33 1 53 63 27 35
Email: cprince@yucatan.fr