The Dutch multi-university venture fund had targeted $70m for its latest fund but ended up attracting $82.5m from investors including Protix and Corbion.
Netherlands-based multi-university venture fund Shift Invest has raised €70m ($82.5m) for its third vehicle, Shift III, from investors including Wageningen University and Research and unnamed universities.
The impact investment vehicle, which achieved an initial close in May this year, is also backed by financial services firm Rabobank’s Rabo Corporate Investments, the European Investment Fund, insect-based animal feed supplier Protix and chemicals company Corbion.
The Dutch government-owned research institute TNO and the Netherlands Enterprise Agency, as well as unnamed family offices, regional development funds, universities and entrepreneurs backed by Shift’s previous funds have also thrown their weight behind the vehicle.
Shift III will collaborate with TNO and the country’s technical universities on identifying promising technologies with a focus on products that can safeguard biodiversity. It will invest from seed to growth stage.
Marcel Wubbolts, chief science and sustainability officer at Corbion, said: “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.”
Shift is aligned to Wageningen University and Research and TU Delft as well as the universities of Twente and Eindhoven.
