EIF commits €25m to fund supporting Irish agri-food tech firms
The European Investment Fund (EIF) has committed €25 million to an early-stage venture capital fund targeting innovative agri-food technology companies.
Managed by Yield Lab Europe, the pan-European fund based in Ireland, will back seed and early stage companies developing innovative technologies across animal health, alternative proteins, aquaculture, crop and soil health, horticulture, precision agriculture and the circular economy.
The commitment from the EIF, which is part of the European Investment Bank (EIB) group, supports a fund that is expected to mobilise €100 million for new investment in the sector.
30% of this capitial will be deployed in Ireland, with the remainder spread across Europe.
Agri-food
The new fund, named Yield Lab Europe Fund 2, aims to tackle critical barriers for early-stage agri-food technology companies, including financing, technology access gaps and the climate transition investment deficit.
It builds on a previous fund (Yield Lab Europe Fund 1) worth €55 million established in 2019 which saw 32 investments across 8 countries.
Among the companies to secure support under the initial fund were Auravant, Glasport Bio and Micron Agritech.
Fund
The announcement was made during a visit to Dublin by EIB vice president Ioannis Tsakiris for the Ireland-EIB financing group ministerial meeting.
He said that the EIF's commitment to Yield Lab Europe Fund 2 "reflects the EIB Group's determination to ensure that Europe's agrifood sector has access to the innovation capital it needs to thrive".
"Agriculture is central to our food security, our climate commitments, and the long-term competitiveness of the European economy, yet it remains one of the most underserved sectors in the venture capital landscape.
"By anchoring this fund, we are not only backing a proven and highly capable team; we are sending a clear signal to the wider investment community that sustainable agrifood technology is a strategic priority for the EIB Group.
"I am particularly pleased that Ireland - a country with a proud and globally respected agricultural tradition - will be a primary beneficiary, with 30% of investments targeted here," Tsakiris added.
Minister for Enterprise, Tourism and Employment Peter Burke described the announcement as "excellent news for Ireland's agrifood sector and a powerful recognition of the exceptional depth of talent and innovation that we have developed here".
"The fact that 30% of a major new pan-European fund is targeting Ireland speaks volumes about our ecosystem's global standing.
"Sustainable food production is one of the defining challenges of our generation — and it will be solved by the kind of early-stage innovators that Yield Lab backs," he said.
Innovation
David Bowles, managing partner, Yield Lab Europe, said that securing the EIF as the anchor investor for the second fund is "a landmark moment".
"Our first fund demonstrated that early-stage investment in agrifood technology can deliver both strong financial returns and measurable environmental impact.
"With Fund 2, we are doubling down on that conviction, with a broader mandate, a deeper and more geographically diverse team, and a laser focus on the three structural barriers that have held back sustainable agriculture for too long.
"Ireland has produced world-class agrifood innovators, and with this fund we are ensuring they have the capital and strategic support to scale across Europe and beyond.
"The EIF's backing is not just financial - it is a mark of quality that opens doors across Europe," he said.
