USD 50 million Series A: EQT Ventures joins food biotech startup Formo
Munich, Germany — EQT Ventures launches investment in Berlin-based food biotech startup Formo in a USD 50 million Series A financing round advised. In addition to EQT Ventures, other backers include Elevat3 Capital, Lowercarbon Capital and Lionheart Ventures.
Formo develops sustainable, healthy and fair dairy products, supporting a sustainable and ethical food system. Formerly known as LegenDairy Foods, Formo is a European leader in cellular agriculture and the development of cultured dairy products based on real, animal-free milk proteins produced by precision fermentation. The financing round is intended to increase research and development capacity and accelerate commercialization in advance of Formo’s market launch.
EQT Ventures is the venture capital fund of EQT, a purpose-driven global investment organization. EQT Ventures invests in fast-growing, innovative and technology-driven companies in all sectors worldwide, with a focus on Europe and the US.
Advisors to EQT: DLA Piper
The DLA Piper team, led by Partner Andreas Füchsel (Private Equity/M&A), continued to include Partner Dr. Burkhard Führmeyer (IPT), Counsel Kaja Herrmann (Labor Law, all Frankfurt), Senior Associate Dominik Wegener (Corporate, Hamburg) and Associates Philipp Meyer (Private Equity/M&A), Denise Peter (Labor Law, both Frankfurt) and David Sanchio Schele (Data Protection, Hamburg).
EQT Partners AB is an investment group primarily active in Northern Europe and Asia with its headquarters in Stockholm. It was founded in 1994 by the Swedish Investor AB and is still 31% owned by the latter. The remaining 69% is held by the company’s partners via EQT Partners BV. EQT completed an initial public offering on September 24, 2019. https://eqtgroup.com
About DLA Piper
DLA Piper is one of the world’s leading commercial law firms, with offices in more than 40 countries in Africa, Asia, Australia, Europe, the Middle East, and North and South America. In Germany, DLA Piper is represented by more than 250 lawyers at its offices in Frankfurt, Hamburg, Cologne and Munich. In certain jurisdictions, this information may be considered attorney advertising. For more information, visit: www.dlapiper.com