Global agrifood investment firm Finistere Ventures, venture investor OurCrowd, Israeli food manufacturer Tnuva, and Israeli beverage company Tempo Beverages created a consortium to invest $100M in Israeli agrifood startups.
The partnership was created following the Israeli government’s establishment of an innovation incubator in Northern Israel focused on FoodTech.
Finistere Ventures, OurCrowd, Tnuva and Tempo Beverages will be bidding to operate the incubator being built as part of Kiryat Shemona’s planned innovation center, to intensify their investment in the Israeli FoodTech community.
Together, Finistere, OurCrowd, Tnuva, and Tempo, will actively encourage, support and invest in Israeli entrepreneurs building new companies to meet evolving consumer demands and transform the current ag and food chain.
Thanks to the partners’ extensive industry network, entrepreneurs will also be able to gain direct access to leading global food and beverage giants such as PepsiCo, Bright Food, Heineken and Nutrien.
The consortium brings together:
– OurCrowd, Israel’s most active venture investor, which has $1B in commitments and has made investments in 170 companies and funds,
– Finistere Ventures, a global $150 million fund dedicated to investments in agrifood technologies and supported by investors such as AVAC, Bayer, Ireland’s Strategic Investment Fund, Nutrien, PepsiCo, and Unigrains,
– Tnuva Group, Israel’s biggest food conglomerate, with 1.7B $ revenue, holding ~16% market share of the total F&B Israeli market,
Tempo, a market leader in alcoholic beverages (Beer, wine and spirits) and the co-leader of the non-alcoholic beverages market (With leadership position in premium water, energy drinks and malt beverages).