Gimv et al. invest €5m in biotech startup AgroSavfe

Gimv invested €2m from its Gimv-Agri+ Investment Fund, which is a joint venture with Boerenbond and Biotech Fond Vlaanderen. The latter fund is also managed by Gimv. The remaining investors commited €3m.

Company
AgroSavfe is a spin-off from VIB (Vlaams Instituut voor Biotechnologie/Flemish Institute for Biotechnology) that focuses on the research and development of environmentally friendly crop protection products. It draws upon technology developed at the Free University of Brussels. The company is located in the VIB Bio-Incubator in Ghent's technology park. Led by CEO Marnix Peferoen, AgroSavfre employs nine people.

People
Patrick Van Beneden, manager of Biotech Fond Vlaanderen and Gimv-Agri+, led the deal on behalf of Gimv. Johan Cardoen is managing director of VIB. 

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