Press Release

The pioneering Fund, which will look to back technology solutions that will help global food system and environmental challenges, was oversubscribed, and has attracted investment from institutional investors, corporate partners, family offices and high net worth angel investors. It is believed to be the largest ever fund raised in the foodtech sector and comes a little over a year since the establishment of the London-based investment manager.

The Fund has already invested in a range of businesses, including the likes of cultivated meat startup Upside Foods, sans bovine ice cream maker Perfect Day, biomanufacturing-as-a-service platform Culture Biosciences, and 3D printing tech startup Redefine Meat.

Working alongside lead counsel Sidley Austin LLP, the Carey Olsen team advising Synthesis on all Guernsey aspects of the Fund's establishment, launch and closing was led by partner David Crosland, assisted by senior associate Alex Mauger and associate Claire Cooke.

David said: "It has been a pleasure to work with Synthesis on this exciting fundraise. The Fund is incredibly innovative and forward-thinking; recognising the huge potential of the foodtech sector and the viable solutions it is already offering.

"Synthesis is another perfect example of a first-time manager coming to Guernsey and utilising the jurisdiction's expertise, infrastructure and well understood regulatory regime, further cementing the island's reputation as a leader in the 'green' space."

The Fund will look to invest in around 15 companies across the food value chain.