Hamburg-based venture firm Oyster Bay has closed its second fund at over €100 million, dedicated exclusively to the future food market. Investors include the European Investment Fund (EIF) and KfW.
The food sector, roughly a $10 trillion industry representing about 12 per cent of global GDP and 40 per cent of the workforce, also accounts for around one-third of global emissions and contributes to water scarcity and biodiversity loss. Yet only about 8 per cent of climate-focused venture capital goes to food and agritech, underscoring a sizable investment gap alongside substantial untapped potential.
Oyster Bay's founder and Managing Partner Christoph Miller notes that while food is sometimes treated as a passing VC trend, it is in fact one of society’s most significant long-term challenges.
Oyster Bay’s first fund ranked in the top 10 per cent of European VC funds and backed companies including Oatly, AirUp, True Gum, and GoodBytz. Fund II continues the same strategy, entrepreneurial investing that pairs returns with impact, supporting founders transforming the global food system.
We are not traditional financial investors, but entrepreneurs with a successful track record. Less than 0.1% of startups that apply to Oyster Bay make it into the portfolio – our involvement is a seal of quality,
adds Felix Leonhardt, Managing Partner of Oyster Bay.
As large food companies contend with supply-chain pressures, startups addressing the value chain, from sustainable inputs and alternative proteins to data-driven logistics, are gaining importance. Miller emphasises that efficiency, transparency, and resilience in supply chains will determine the sector’s transition.
Oyster Bay sees major opportunities in traceability technologies, AI-based demand planning, and solutions that strengthen supply-chain resilience, viewing these as core economic enablers.
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