Singapore venture capital firm Clay Capital closes second fund at $145M

Singapore-based venture capital firm Clay Capital has announced fund two, a $145 million global fund to reconnect and strengthen the link between human health and the health of the planet through innovative technology.

The firm said in a statement on Tuesday that it is looking for ambitious European and Asian entrepreneurs that are applying technology to remedy fundamental problems in the food system today, and that have a vision to create more sustainable, nutritious and circular approach to farming, food production and consumption in the decade to come.

According to the statement, food and energy security are increasingly in the spotlight, with both emerging as every nation’s greatest asset, and greatest risk.

Clay Capital believes a resilient system is inherently a healthy system and a secure system.

The firm aims to invest in new technology that is creating a more secure the food system and positive returns for health of people and that of the planet.

According to the statement, Europe has become the firm’s focus due to its strong food culture, ongoing commitment to sustainability, and start-ups that are more adaptable and capable of expanding beyond their local borders quicker.

This, paired with Singapore’s progressive focus on food system innovation and supportive regulation, facilitates Clay Capital’s goal of supporting founders with their Asian expansion through Singapore.

“Operating between the two continents, and serving as a connector, is something we’ve envisioned from day one of the firm, long before Singapore became known as an ‘AgriFood Tech Hub’,” said Gerard Chia, Partner, Clay Capital.

“Clay Capital’s positioning, between Singapore and London, is intentional, with the firm serving as a bridge between the growing Asian and European markets and offering startups support finding and accessing growth opportunities in both regions,

“We have deep cultural know-how and local connections that give our portfolio an advantage as they scale in both markets. We can take this hands-on approach because of our concentrated portfolio strategy,” he added.

Meanwhile, Clay Capital Co-Founder and Partner, Matthieu Vermersch said that as part of the larger climate tech market, food remains a major source of emissions and natural capital destruction.

“What’s changed in the sector over the last nine years is that tailwinds have increased, the maturity of the technology ripened and, of late, a focus on business fundamentals returned,” he said.

Clay Capital is a firm supports ambitious teams that are developing transformative solutions for a healthier, safer, and more regenerative agri-food system.

The firm is backed by significant institutional investors, including government-linked funds, supra-national entities, banks, insurance companies, and prominent families in the agrifood industry.

The multi-stage food and agtech investor that unites deep knowledge and experience of the food and agriculture sector in two regions of the world with long, delicious and celebrated food histories and cultures — Europe and Asia — has been investing since 2014.

The team brings deep experience in scaling disruptive new technology companies with health and positive impact at their core and a belief that the food sectors can regenerate the planet and curb climate change.

Clay Capital takes both an evolutionary and revolutionary approach to renewing the food system and restoring health.
In the last nine years, the firm has invested in solutions making the existing food system more sustainable and scalable, as well as solutions building the foundations of industry 3.0.

Among them are In Ovo’s gender scanning technology which is tackling the 6.8 billion male chicks that are culled annually, as is standard practice in the poultry industry.

They also include CollectivFood’s local, agile cold chain that is cutting emissions from delivery vehicles in urban areas, and Aleph Farms which is producing cultured beef using 95 percent less land, and producing 80 percent less greenhouse gas emissions than conventionally raised cattle.

They also include Toopi’s bio-stimulant, that is made from redirected human urine, and can reduce the need for synthetic fertilizer by up to 50 percent, while increasing soil fertility and accelerating a transition toward regenerative agriculture.

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