Future Positive Capital held a first close for its first pan-European fund focused on deep technology companies, with US$57.1 million in capital commitments.
The fund has an initial target of US$55 million. It will invest in companies that use deep technologies, such as artificial intelligence, synthetic biology and genetics, to address issues related to the growing population and climate change, among others. It has already made investments in two companies, namely Meatable BV, an Amsterdam-based developer of laboratory-grown meat products; and BioBeats, a U.K.-based artificial intelligence company focused on mental health and well-being.
The pan-European venture capital firm received support from Bpifrance SA; Draper Esprit PLC; the Europäischer Investitionsfonds, or the European Investment Fund; and Isomer Capital LLP. Other investors include family offices and established investors including former World Bank Group CFO Bertrand Badré; Butler Capital Partners founder Walter Butler; former Axa CEO Henri de Castries; Stena AB board member and Heartflow Ventures co-founder Marie Eriksson; the co-founder of Senderwood LLP, formerly known as Localglobe, co-founder and former Index Ventures venture partner Robin Klein; serial entrepreneur and corporate social responsibility pioneer Francois Lemarchand; and former Wendel chairman and Allegro Cantabile CEO Frédéric Lemoine.
The fund is supported by InnovFin Equity and is financially backed by the European Union under Horizon 2020 Financial Instruments and the European Fund for Strategic Investments under the Investment Plan for Europe.