Netherlands-based agriculture conglomerate Royal Cosun has become a limited partner in Icos Capital Fund III, a €50m ($57m) cleantech and sustainability-focused fund managed by venture capital firm Icos Capital.
ICF III targets investments in companies operating in the chemical, food and materials sectors, with a focus on renewable resources, sustainable processes and smart production systems.
The fund has invested in Switzerland-based agriculture technology developer Gamaya and Switzerland-based data analytics provider Squirro. Icos said it plans to add eight to 10 more companies to the fund’s portfolio in the next three years.
Chemicals producer AkzoNobel, steel processing and finishing business Wupperman and process engineering firm Bühler helped the fund achieve a first close in January 2017.
Royal Cosun CEO Albert Markusse said: “Our participation in ICF III is an investment to source innovations that strengthen and broaden our businesses, setting up new collaborations with innovative scale-ups both in our core markets as well as in new markets where our existing capabilities can make a difference.”