Cibus Fund
Cibus Capital is a London-based private equity firm investing in sustainable food and agriculture, whose water exposure comes through resource-efficiency agtech rather than a dedicated water strategy. Through its venture arm it has backed water-tech companies such as Ostara and Moleaer. As of 2026, (don't) Waste Water rates its water commitment Occasional: two water companies across four deals.
Compiled by Antoine Walter, (don't) Waste Water, from official filings and direct intelligence in Leviathan.
The take
Cibus Capital is a food-and-agriculture investor whose water exposure is a byproduct of a broader resource-efficiency thesis. Founded in 2016 by Rob Appleby, a former Lehman Brothers trader who went on to co-found Hong Kong's ADM Capital and its environmental foundation, Cibus runs three vehicles: the mid-market Cibus Fund, the late-stage Cibus Enterprise venture fund, and Cibus Carbon for natural capital. Water turns up where food and clean water collide.
Cibus places its water bets inside the venture arm, run by Head of Venture Alastair Cooper, a former Morgan Stanley managing director. Cibus was an early backer of Moleaer, whose nanobubble machines force oxygen into water at very low energy for cleaner treatment and stronger yields, and it backed Ostara, which strips phosphorus and nitrogen out of wastewater and sells them back as fertiliser. The through-line is the nutrient-and-water loop in agriculture, not municipal pipes.
Cibus is, by (don't) Waste Water's count, a two-water-company, four-deal investor whose last water deal closed in 2022, which is why its water-commitment score lands at Occasional. The two clearest water bets I can find in its book, Ostara and Moleaer, both sit at the nexus of farming and clean water. For a newcomer the takeaway is plain: Cibus is a serious agrifood investor where water is a consequence of the thesis, not the headline, and the vehicle to watch is its late-stage Cibus Enterprise fund.
Water Commitment Score
Compiled from official filings, third-party records, and direct intelligence from investors and founders, in Leviathan · recomputed monthly · as of Jun 2026.
How they invest
Portfolio · 2 water companies
Invests alongside
Highlighted = profiled on (don't) Waste Water.
Frequently asked
- What does Cibus Capital invest in?
- Cibus Capital invests in sustainable food and agriculture, from mid-market food production and processing to late-stage agrifood technology. Its water exposure comes through resource-efficiency agtech, including nutrient recovery and water-treatment companies, rather than a dedicated water strategy.
- What water companies has Cibus Fund backed?
- Cibus Fund has backed two water-relevant companies that (don't) Waste Water tracks. Ostara recovers phosphorus and nitrogen from wastewater and sells them back as fertiliser, while Moleaer builds nanobubble systems that treat water and lift growing yields. Both sit at the farming and clean-water nexus.
- Who runs Cibus Capital?
- Cibus Capital was founded in 2016 by Robert Appleby, a former Lehman Brothers trader and co-founder of Hong Kong's ADM Capital, who serves as Chief Investment Officer. Alastair Cooper, a former Morgan Stanley managing director, leads the venture arm where the water investments sit.
- Where is Cibus Capital based?
- Cibus Capital is based in London, United Kingdom, and invests across Europe, the United States and other OECD countries. The firm has raised over one billion US dollars since 2016 across its private equity and late-stage venture strategies.
- Is Cibus Capital the same as Cibus, Inc.?
- No. Cibus Capital is a London-based private equity firm investing in food and agriculture. Cibus, Inc. is a separate, Nasdaq-listed agricultural biotechnology company focused on gene-edited crops. They share a name but are unrelated businesses.