Denmark-based Kost Capital, a newly established venture capital fund, has announced its first close of €25 million for the next wave of food-tech start-ups.
With an initial close of €25 million, in collaboration with Denmark’s Export and Investment Fund (EIFO), the fund aims to revolutionise the food industry by addressing issues such as the growing population; climate change; food waste; health concerns; and policy changes.
Kost Capital aims to utilise the funds to bridge the gap between academic research and market implementation through collaborations with Kost Studio, the food development studio, fostering the growth of impactful, scalable, and sustainable food innovations that can potentially transform Denmark into Europe’s leading bioeconomy hub.
The fund was led by Danish entrepreneurs Kasper Hulthin, Christian Tang-Jespersen, Mark Emil Hermansen and Jacob Lee Ørnstrand alongside the general partner, Bodil Sidén.
Bodil Sidén said: “We are what we eat, yet the food system is broken. A growing population, climate change, food waste, health issues and policy changes require rapid funding now to ensure sustainability, efficiency and resilience in the future of food. We need to bring better food for more people, that's why we started Kost Capital.”
Kost Capital has made its first investments in palm oil replacement company Äio, infant formula company Numi and Danish ingredient company Nutrumami.
Sidén continued: “We have all tried alternatives that do not taste good, we believe the bioeconomy will bring better food for more people. Äio and Numi are great examples of companies that are solving massive problems with enormous potential in scalability as well as impact."