Rabobank spinout Anterra makes €5m maiden investment

FFT has raised approximately £10m in venture funding so far. The fresh capital will be used to commercialise FFT's food waste-saving technology. JRJ Group was the firm's first external investor.

As Rabo Ventures, the venture capital arm of Dutch financial services company Rabobank, Anterra financed the growth of innovative companies operating across the food and agriculture supply chain, a strategy which Anterra seeks to pursue. The GP will focus on investing in technology companies, with a focus on making the food and agriculture supply chain safer, more efficient and sustainable. The whole investment team took part in the spinout.

Rabobank will remain a cornerstone investor in Anterra while Moonray Investors, the investment arm of Fidelity Worldwide Investment parent company FIL, will join as new backer.

Anterra plans to commit as lead investor in transactions, taking significant minority stakes for €2-12m.

Company
FFT develops technology products in the food waste-saving sector. The firm's current product is It's Fresh!, an ethylene-removal technology made of a blend of minerals and clay, which reduces the ripening and decaying of fruits, vegetables and flowers. The mixture is sealed into food-grade pads that can be inserted into bulk as well as retail fresh-produce packaging. It then absorbs the ethylene gas molecules, which result from fruit's natural ripening hormones.

The firm's headquarters are based in Birmingham, where it was founded in 2008 and currently employs 25 staff. FFT's clients so far include Marks & Spencer and Waitrose in the UK, as well as Cencosud in Chile.

People
Lizette Sint is managing director of Rabo Private Equity Fund Investments. Nicky McCabe is COO of Moonray Investors. Peter Sugarman is chairman of FFT. Adam Anders is managing partner at Anterra.

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• Topics
• Technology
• UK / Ireland
• Expansion
• Netherlands
• Rabo Private Equity