Thesis

Sustainability at the core

Sustainability is core for Blue Horizon Ventures. The goal of our first fund is to invest in approximately 25 companies in the food space which have the ambition and potential to grow to a large scale, targeting our 3 sustainability verticals:
 
 

The companies must address one of the following issues in their core businesses in Foodtech:

•  Plant-based meat, fish & dairy industry along the value chain

  Cultivated Food, Fermentation and Synthetic Biology

•  Other sustainability verticals around the food system (Agtech, packaging, etc)

The following three sustainability clusters should be the focus of attention, at least one of which must be fulfilled:

  Significantly more environmentally friendly than their alternatives

  Promotion of a positive effect on health

•  Replacement of animals from the food chain

For the sustainability strategy of BHV, a number of quantitative goals are listed here as examples, which are to be pursued and successively supplemented. The first BHV impact report is to be completed in 2021.

Sustainability goals in the area of business:

  The aim of the Blue Horizon Ventures fund is to invest in 25 companies operating in the above-mentioned sustainability clusters by the end of 2021. In December 2020, the  number of portfolio companies is 15.

  All non-Seed portfolio investments are to be reviewed with regard to their sustainability performance by means of a Sustainability Due Diligence. The due diligence process was implemented in May 2020, and currently, in December 2020, the proportion of companies reviewed is 100% of non-Seed deals completed after the implementation of the process, or 33% of the total portfolio.

Sustainability target in the social area:

  The portfolio companies must offer a comprehensible nutritional-physiological advantage compared to the conventional alternatives. The goal is that at least 70% of the companies offer more than two health benefits compared to their animal-based counterparts. By the end of 2020, 100% of commercial phase portfolio companies base their products on ingredients that are health promoting and superior vs comparable, non-plant-based alternatives.

Sustainability target in the environmental area:

  BHV is building up a system of key performance figures (KPIs) to track and continuously improve the environmental performance of the portfolio companies. The process was implemented in May 2020 and all portfolio companies that BHV invested in thereafter will annually collect KPIs on sustainability topics such as GHG emissions, packaging and water consumption and, if applicable, a proxy for the animal lives spared. By the end of 2021, 40% of the portfolio companies should have prepared the KPIs for 2019 and 2020. At the moment, one company has prepared the KPIs for 2019.