Oyster Bay, Germany’s first specialized food VC, launches new €100 Million fund

Hamburg-based venture capitalist Oyster Bay, Germany’s first specialized food VC, announces the final closing of its second fund. With a volume of over €100 million, it ranks among the largest European venture capital funds exclusively dedicated to the future food market. The fund was significantly oversubscribed, with investors such as the European Investment Fund (EIF) and KfW participating.
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The food sector is the largest industry in the world: $10 trillion in revenue, 12% of global GDP, and 40% of the global workforce. At the same time, it generates roughly a third of global emissions and drives water scarcity and biodiversity loss. Yet, only 8% of climate-related venture investments currently flow into food and agri-tech. The investment gap is as huge as the untapped potential within the sector.
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Christoph Miller, Founder and Managing Partner of Oyster Bay: “Food has so far been seen in venture capital mainly as a short-lived trend investment – which is wrong. Nutrition is the most underestimated future challenge of our society, and through our investments, we aim to find solutions to its complex problems.”
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Oyster Bay has already proven that this approach can be economically successful. Fund I ranked among the top 10% of all European VC funds. The portfolio already included successful companies such as Oatly, AirUp, True Gum, and GoodBytz. Fund II follows the same principle: investing entrepreneurially, combining return with impact, and supporting founders who drive the transformation of the global food system.
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Felix Leonhardt, Managing Partner of Oyster Bay: “We are not traditional financial investors, but entrepreneurs with a successful track record. Less than 0.1% of startups that apply to Oyster Bay make it into the portfolio – our involvement is a seal of quality. Only the very best are in our portfolio, those whose solutions sustainably improve the food system.”

Large food corporations are facing enormous challenges in their supply chains. Startups developing new solutions along the value chain – from sustainable raw materials to alternative proteins to data-driven supply chains – are therefore gaining significant importance.
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Christoph Miller: “It is in the supply chains that the success of the transformation is decided. Efficient, transparent, and resilient structures are the foundation of any sustainable food economy.” Oyster Bay sees enormous opportunities in this area: traceability technologies, AI-based demand planning, and solutions for resilient supply chains are becoming central economic foundations.

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HOW OYSTER BAY INVESTS

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Focus: Food & Agri-Tech with clearly measurable impact
Volume: >€100 million (Fund II)
Structure: 10-year fund, around 20 investments
Selectivity: <0.1% of screened startups receive a ticket
Criteria: Founder quality before product, unit economics over hype
Examples: Harvest robotics (Eternal), cocoa alternatives (Nukoko), digital supply chains (Abeya), kitchen robotics (GoodBytz)