Nestle Backs New Food-Tech Fund That's Swapping London for Paris
- Five Season Ventures raises $74 million from investors
- Investors include InnovFin, Fondo Italiano d’Investimento
The Eiffel Tower stands above the city skylinein Paris.
Photographer: Christophe Morin/Bloomberg
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Nestle SA and French state-sponsored investor Bpifrance Financement SA are among those backing Five Season Ventures, a food-tech fund that is moving from London to Paris.
Investors are becoming increasingly interested in the food-tech industry. Earlier this month, U.S. bone-broth protein maker Ancient Nutrition raised $103 million from investors including Silicon Valley venture firm Iconiq Capital, which invests on behalf of Facebook Inc. co-founder Mark Zuckerberg. In July SoftBank Group Corp.’s Vision Fund led a $200 million investment in vertical farming startup Plenty.