Netherlands-based multi-university venture fund Shift is expected to raise €65m ($70m) by the end of 2020 and has signed up insect-based animal feed supplier Protix as a limited partner.

Shift III, which will nurture domestic businesses including spinouts, is aligned to Wageningen University and Research and TU Delft as well as the universities of Twente and Eindhoven.

The Dutch government will also participate through its research institute TNO and the Netherlands Enterprise Agency, as will provincial governments, financial services firm Rabobank and unnamed private sector funds.

Apart from Protix, a range of unnamed fellow portfolio companies of Shift I and Shift II have also invested in the fund.

Shift III is described as long-term investment fund with ticket sizes generally ranging from $270,000 to $5.4m.

It aims to inject capital across multiple stages, sustaining the recipient through various phases of development, but investing earlier than funds that require solid proofs of turnover.

Shift’s earlier portfolio companies have included meat-free food protein supplier Meatless, wind energy business Ampyx Power and vertical farming technology producer 30Mhz.

The firm’s first two vehicles were managed by NBI Investors, with limited partners including Rabobank, Wageningen University and TU Delft, as well as health insurer Menzis and conservation charity World Wildlife Fund.

Sebastiaan Berendse, director of value creation at Wageningen University and Research, said: “This fund helps us increase our impact because it enables us to develop more, and faster scaling, spinoffs.

“This is because Shift III does more than just provide capital; the fund also provides support and expertise where needed. For example, by linking the best partners to the spinoff, so that its available potential can be achieved.”

–  The original version of this article appeared on our sister site, Global University Venturing.

A new venture fund backed by four Dutch universities is expected to raise €65m ($70m) by the end of 2020 to nurture domestic businesses including spinouts.
The vehicle, dubbed Shift III, is aligned to Wageningen University and Research and TU Delft as well as the universities of Twente and Eindhoven.
The Dutch government will also participate through its research institute TNO and the Netherlands Enterprise Agency, as will provincial governments, financial services firm Rabobank and unnamed private sector funds.
Certain portfolio companies of Shift III’s precursors have also invested, including insect-based animal feed supplier Protix.
Shift III is described as long-term investment fund with ticket sizes generally ranging from $270,000 to $5.4m.
It aims to inject capital across multiple stages, sustaining the recipient through various phases of development, but investing earlier than funds that require solid proofs of turnover.
Shift’s earlier portfolio companies have included meat-free food protein supplier Meatless, wind energy business Ampyx Power and vertical farming technology producer 30Mhz.
The firm’s first two vehicles were managed by NBI Investors, with limited partners including Rabobank, Wageningen University and TU Delft, as well as health insurer Menzis and conservation charity World Wildlife Fund.
Sebastiaan Berendse, director of value creation at Wageningen University and Research, said: “This fund helps us increase our impact because it enables us to develop more, and faster scaling, spinoffs.
” This is because Shift III does more than just provide capital; the fund also provides support and expertise where needed. For example, by linking the best partners to the spinoff, so that its available potential can be achieved.”