February.22.2019
Orrick has advised Brussels-based VC firm Astanor Ventures, as lead investor, in France-based ag-tech startup Ÿnsect’s $125 million Series C financing round. This investment is the largest ag-tech funding deal outside of the United States.
Astanor and other existing Ÿnsect investors – Bpifrance Ecotechnologies, Demeter, Quadia and Vis Vires New Protein Ventures – participated in the round, alongside Bpifrance Large Venture, Talis Capital (UK), Idinvest Partners, Crédit Agricole Brie Picardie, Caisse d'Epargne Hauts-de-France and Picardie Investissement (France), Finasucre and Compagnie du Bois Sauvage (Belgium), Happiness Capital (Hong Kong) and a Singaporean family office.
Ÿnsect breeds insects and transforms them into premium ingredients for fish and pet food and organic plant fertilizers. This investment will enable Ÿnsect to step up their international expansion by opening a new factory in France and, possibly, another in North America.
The Orrick Paris team included Olivier Edwards, Olivier Vuillod, Lionel Simonet, Charles Briand, Margaux Azoulay, Margot Janot, Hélène Daher, Ariane de Roux and Lea Ghoreychi.