30 May 2019

Finistiere Ventures and three Israeli firms have formed a partnership that will invest up to $100 million in agrifood startups in Israel.

Finistiere, who focus on technology, are joined by Tnuva, Israel's largest food company, beverage maker Tempo, and OurCrowd, one of Israel's largest venture investors. The partnership will focus on finding technologies within the food sector.

The partnership was formed following the Israel governments' announcement that it will establish an innovation incubator focused on food tech. The group has stated that it will bid to operate this incubator, which will be based in the north of Israel.

OurCrowd will be familiar to many as one of the investors in plant-based alternative meat monolith Beyond Meat. Finistiere is backed by a variety of investors, including Bayer, PepsiCo, Nutrien and Ireland's Strategic Investment Fund.