Seventure Partners expands focus to ‘blue’ economy BlueForwardFund™ announces first close, with the support of the Banque Populaire banks
Seventure Partners (Seventure), one of Europe’s leaders in financing innovation and a world-leader in life science microbiome investment, under the leadership of Isabelle de Cremoux, announces the first closing of its new fund, BlueForwardFund™ (BFF), with a final close target of over €130 million. The BlueForwardFund™ has received EUR 30 million investment from Banques Populaires, the fourth largest banking network in France and the leading French bank with a focus on the blue economy, as a strategic investor.
- New BlueForwardFund™ to focus on the blue economy, including blue hydrogen, renewable energy, blue bio-based products, bioplastics, recycling and reconversion, sustainable aquaculture, ocean diversity, blue economy digitalization and more
- Builds on Seventure’s strategy and expertise to invest in the transition to a more sustainable lifestyle, including health and the natural environment aspects
- Prestigious strategic investors involved, including Banques Populaires, a major French banking network with prime focus on investments in the blue economy
- In exclusive collaboration with Biomarine, a prestigious organisation and global network in the marine biotechnology space, with CEO Pierre Erwes joining Seventure as Venture Partner
- Final close target to exceed €130 million
- Synergistic with world-renowned Health for Life Capital™ microbiome focused funds
The BlueForwardFund™ has received EUR 30 million investment from Banques Populaires, the fourth largest banking network in France and the leading French bank with a focus on the blue economy, as a strategic investor. The fund has also attracted family offices and institutional investors from Europe and the US. The first close of the new fund has now been concluded. Climate change drives the most pressing issues of our times, and oceans and seas will play a crucial role in addressing these. The BlueForwardFund™ is set up to invest in companies aiming to leveraging these opportunities and that operate in related areas. This includes blue biotech, biomaterials, bioplastics, cleantech, including blue hydrogen and other blue renewables sources, sustainable aquaculture, waste and circular blue economy, digital ocean, with a renewed commitment to sustainability, ocean preservation and actionable solutions to address growing problems due to the climate change.
The fund will invest in approximately 20 innovative companies from seed to late-stage venture, growth and pre-IPO stage, with ticket sizes ranging between €500k and €5m per round, or up to €10m per company. Its main geographic focus will be in France and Europe, but will also consider opportunistic investments in Israel, North America and Asia.
Isabelle de Cremoux CEO and Managing Partner at Seventure Partners, who led BlueForwardFund™ fund raising said: “the new BlueForwardFund™ is a logical continuation of our strategy to support humans and the transition to a more sustainable lifestyle. We have seen enormous success with our Microbiome, Foodtech and Sports funds and we believe that the next additional area to support must be the Blue Economy. The support we have received so far for the first closing of our BlueForwardFund™ has already proven our belief and we are looking forward to expanding our portfolio in this field”.
She added: “As a result of our focus on Foodtech, Health, Microbiome, Sport and Digital, we have built a powerful worldwide network amongst academic, universities, incubators, payers, corporate players and retailers and an enviable regulatory and market access expertise. The BlueForwardFund™ will fund solutions coming out of this ecosystem across ocean-related value chains.”
To boost its expansion in the sector, Seventure has also agreed an exclusive collaboration with Biomarine, a global worldwide network with over 6,000 members from governments, associations, corporates, innovative companies, and academics. Biomarine is specialized in the blue economy, and regularly hosts themed events, such as “Seaweed Around the Clock”, in addition to co-ordinating professional think tanks.
Pierre Erwes, founder of Biomarine, recently joined Seventure as Venture Partner, bringing his 35 years of experience in blue economy to the fund and the portfolio companies. Pierre will be responsible for the sourcing and analysis of the deal flow for the new fund, in addition to business development and internationalization of portfolio companies.
Pierre Erwes, new Venture Partner at Seventure Partners and founder of Biomarine added:
“The BlueForwardFund™ is a truly trailblazing initiative as seas and oceans continue to grow in importance. The Blue Economy drives innovations that address pressing issues caused by the climate change, as well as propels the transition to a more sustainable global economy. I’ve known Isabelle for over 15 years, and I am delighted that the combination of our network and expertise has led to this successful first closing. I am thrilled to join Seventure, allowing me to support sustainable development through dedicated investments. For over 35 years, I’ve been actively engaged in this field, and I believe that the potential to drive sustainability in this area is enormous.”
Seventure is known for investing in areas that drive the improvement of human health as well as the natural environment, and its commitment to sustainability. Its Health for Life Capital™ fund is among the first with a primary focus on the microbiome, foodtech, nutrition, as well as health tech and diagnostics. The two funds and co-investment vehicles have raised c. EUR 500M in total. Seventure’s Sport and Performance Capital ™ fund supports companies improving physical activity for all.
Seventure Partners is a long-term equity investor who actively supports innovative companies aiming at generating positive impacts on Humankind, Society, Sustainability and the Planet.
With €900m net commitments under management as of the end of 2021, Seventure is a leading venture capital firm in Europe investing since 1997 in innovative businesses with high growth potential in two main fields: Life sciences (health & digital health, nutrition, foodtech, blue economy, aquaculture, animal & agriculture, sport & wellness …) across Europe, Israel, Asia and North America and Digital technologies in Europe.
Investments can range between €500k and €10m per round, or up to €20m per company, from early to late stage, growth, pre-IPO and IPO.
For more details: http://www.seventure.fr/en Twitter: @seventurep
The Banques Populaires network consists of 12 regional Banques Populaires, Crédit Coopératif and CASDEN Banque Populaire. These independent banks provide a complete range of commercial banking and insurance services in a close relationship with their customers. Banque Populaire has 9.5 million customers (including 4.7 million members) and forms part of the second-largest banking group in France.
BioMarine Organization was founded in 2008 under the French Presidency of the European council. It has established strong links with renowned institutions, international organizations and companies that actively contribute to the development of our BioMarine vision. We concentrate our actions and efforts on the marine resources sphere by helping industry, investors, and governments to design their marine and maritime policy, identifying institutional and regulatory bottlenecks, fostering business opportunities and job creation, identifying investors and suitable investments.
BioMarine has developed an innovative approach to support Blue Growth Strategy implementations. The strategy includes the development of the BioMarine Community which is now the largest industry and investment blue bio network, several networking platforms dedicated to industry, investors, government agencies, research and general public, the blue bio plastic consortium.
In 2020, BioMarine launched the Seaweed Consortium with an annual live event: “Seaweed Around the Clock” which is a 24-hour live show running from New Zealand to Tahiti. It brings together the global seaweed industry. This critical virtual event draws governments, industry, scientists, and the general public to share the seaweeds benefits for every citizen worldwide. From carbon capture to ocean protection, bioplastics to bioenergies, anti-COVID treatment to agriculture; seaweed is considered the game-changer to fast-track the Paris Agreement.