ADM Ventures, the corporate venture capital unit for food processing group Archer Daniels Midland, has committed an undisclosed amount to France-based venture capital firm Seventure’s Health For Life Capital Fund II.
Health for Life Capital II achieved its first close in March 2019, working towards a €200m ($238m) target, thanks to commitments from strategic partners Danone, Novartis, Lesaffre, Wright Medical, Unicéréales and Bel.
The fund will target developers of technology in areas such as health and nutrition, microbiome-focused products and digital health.
Darren Streiler, managing director of ADM Ventures, said: “Seventure can help meet the long-term demand we see as the result of the convergence of food and pharmaceuticals and consumers looking more towards bioactives and nutrition for wellness solutions.
“With a better understanding of how the microbiome ecosystem works, we can develop functional ingredients for dietary supplements and food and beverage solutions targeted to help improve overall health.
“We are focused on looking at new, innovative solutions that can lead to a more balanced bacterial system in your digestive tract, otherwise known as a healthy gut, and can help lead to better health.”
ADM has set up a probiotics production facility in Valencia, Spain, that will begin operating in 2022. Its products and ingredients targeting microbiome health include Bio-Kult Migréa, Bifodobacterium lactis BPL1 and Bacillus subtilis PXN21.
