Advising World Fund on its investment in ENOUGH's €40 million growth funding

We have advised World Fund, a leading climate venture capital fund, on its €40 million growth funding for ENOUGH, a food-tech start-up pioneering high-scale sustainable protein production.

Co-funded by World Fund and CPT Capital, the new growth funding brings the total capital raised by ENOUGH to over €95 million. With this investment, ENOUGH aims to expand its flagship facility in the Netherlands, to serve increasing customer demand and grow the start-up's teams across its offices in Glasgow, London and at Sas van Gent.

ENOUGH's mission is to serve the world’s growing demand for sustainable protein. Its ABUNDA® mycoprotein, produced by fermenting fungi using renewable feedstocks, can be used as an alternative protein ingredient for a wide variety of products and is up to 15 times more efficient than other protein sources due to ENOUGH’s proprietary technology and zero-waste production. This ingredient will be used in alternative meat and dairy products sold in leading supermarkets and fast-food brands around the world through an array of partnerships, such as with M&S and Unilever.

Commenting on the transaction, Partner Howard Palmer said: "It's been great to work with World Fund again after hosting the launch of their white paper on Europe's Climate Tech investments earlier in the year, and see the firm invest in pioneering start-ups like ENOUGH, which could take us one step closer to meeting our climate targets. With this investment, World Fund will be able to support the start-up as it continues to lead this food revolution. We look forward to seeing the fantastic results the teams can accomplish together."

Craig Douglas, Founding Partner at World Fund, added: "ENOUGH’s work has the potential to help combat food scarcity, reduce the use of resources in the food industry and reduce emissions on a global scale and we look forward to working with Jim and the team to help them achieve this. We would like to extend our thanks to Howard, Elinor, Richard and the team for their exceptional support throughout the transaction. It was a pleasure to work with the team. They were instrumental in ensuring the investment progressed smoothly."

The team was led by Partner Howard Palmer, Senior Counsel Elinor Picton, and Associate Richard Price in the Corporate Technology team. Further support was provided by: