Impact investor: European Circular Bioeconomy Fund (ECBF) mobilises private capital for bioeconomy start-ups

Study highlights the central role of the European Circular Bioeconomy Fund (ECBF) in the European venture capital landscape

16 investments in 10 European countries have mobilised significant private capital: the ratio of capital mobilised by the ECBF to anchor investor EIB is 12.3x. This is evidenced by a study by Technopolis Group commissioned to evaluate the fund. The ECBF's market share is estimated at 15 per cent. The ECBF is the first private European VC fund to invest in growth companies in the (circular) bioeconomy since 2020. The fund volume is EUR 300 million. The EIB has supported the fund as an anchor investor as part of the EU Green Deal. In addition, numerous international investors have joined the fund.

Luxembourg, 20 February 2025 – The market share of the European Circular Bioeconomy Fund (ECBF) in the bioeconomy sector is estimated at 15 percent by a recently published Impact Evaluation Report. The study highlights the fund's central role in the European venture capital landscape. As one of the first VC funds to focus exclusively on growth companies in the (circular) bioeconomy, the ECBF, with a fund volume of €300 million, invests specifically in companies with innovative and sustainable solutions.

A strong commitment to the bioeconomy

The ECBF has established itself as a leading investor in sustainable bioeconomy. Its investments support companies such as Protix, Sqim, Heura Foods, Aphea.Bio, Elicit Plant, Nuritas and Paptic. The fund closes a crucial financing gap for bio-based innovations, particularly for growth companies that are often too complex for generalist VC investors. The start-ups that receive funding develop sustainable products and technologies that are both environmentally friendly and economically promising. In addition to capital, they also benefit from the ECBF's network, industry expertise and strategic advice, which is helpful for further financing rounds.

Investment impact in the bioeconomy

The ECBF has so far invested in 16 companies in 10 European countries, covering sectors such as agriculture, nutrition, packaging and bio-based chemical alternatives. The investments have mobilised significant private capital: the ratio of private to public capital is 12.3 – for every euro of EIB financing, 12.30 euros of additional capital is invested in the portfolio companies. In addition, the portfolio companies are showing positive economic development, including expansion into new markets, job creation and the transition from research and development to product development.

A clear contribution to the European sustainability strategy

The fund follows a strict, best-in-class ESG approach and only invests in companies that contribute to European sustainability goals. These include CO₂ reduction, resource conservation and circular economy. The investments are closely linked to the EU's climate targets, the Green Deal, the Bioeconomy Strategy and several UN Sustainable Development Goals.

A structured ESG approach ensures that comprehensive sustainability criteria are incorporated into investment decisions, including external verification of greenhouse gas emissions along the entire value chain.

Future perspectives of the ECBF

The study highlights that the ECBF has created a solid basis for scaling up innovations in the bioeconomy. The fund has already achieved sustainable effects and will play an even greater role in promoting green innovation in the coming years. With the increasing interest in sustainable investments, the ECBF has the potential to support more companies and advance the European bioeconomy.

‘The European Circular Bioeconomy Fund focuses on sustainable innovations that offer not only ecological but also economic opportunities. We firmly believe that the bioeconomy will ensure prosperity in Europe in the future. By investing in innovative start-ups, we not only promote the transition to a biobased economy, but also create long-term value for investors, society and the environment.’ comments Dr Dirk Saßmannshausen, CFO & Managing Partner of the ECBF.

About the European Circular Bioeconomy Fund (ECBF)

The European Circular Bioeconomy Fund (ECBF) is a private venture capital fund dedicated to advancing the bioeconomy and the circular economy. Established by the European Commission, ECBF invests in pioneering European companies driving the transition from a fossil-based to a bio-based economy. The fund focuses on late-stage companies that demonstrate high potential for innovation, sustainable impact and attractive financial returns. Launched in 2020, ECBF has €300 million under management. It is managed by Hauck & Aufhäuser Funds Services S.A. in Luxembourg and advised by ECBF Management GmbH in Germany. For more information, please visit www.ecbf.vc.

Press contact | ECBF Management GmbH
Cornelia Mann | pr@ecbf.vc| +49.160.892.774.4