On Friday 2 September, the European Commission announced that the Green Generation Fund (GGF) had raised €100 million for investments in innovative technologies to reduce CO2 emissions in the food and industry sectors in Germany. Investments will focus in particular on the extraction of plant proteins. The GGF was founded by two women - Manon Littek and Janna Ensthaler - and specialises in investments in sustainable start-ups.
The European Investment Fund (EIF), backed by a guarantee from the new InvestEU programme, contributed €25 million to this fundraising. Part of InvestEU’s budget comes from the ‘Next Generation EU’ stimulus package. This is one of the first investments under the InvestEU programme in Germany.
The institutional investor KfW Capital, which specialises in venture capital and seed investment funds that in turn invest in young innovative companies, contributed €10 million to the fundraising.
Private investors also participated: Lorian Wendelstadt acted as lead investor, and asset managers such as Kaltroco, Burda and SAP founding family Hopp also joined the deal. (Original version in French by Émilie Vanderhulst)