Yield Lab Europe has launched a new fund which will invest in innovative early-stage agrifood technologies that have the potential to scale up internationally. The fund will include an Accelerator Fund which invests €100,000 into five companies each year, and a larger follow-on fund to lead rounds through to Series A for selected companies.

The €21m fund is backed by a €10m investment from Enterprise Ireland, €4m from AIB, and three private businesses. It will invest in companies that improve the sustainability of food production, helping to reduce the contribution of the sector to climate change and environmental pollution. It is planned to raise further capital for the fund over the next 12 months.

Paul Finnerty, chair of Yield Lab Europe, said: “The launch of this fund is a testament to our success to date and the potential of this sector. It gives us the financial firepower to be a leading player in early stage investment in European AgTech.”