Future Food Fund
Future Food Fund is a Dutch venture capital firm backing early-stage food and agriculture startups across North West Europe. It invests for impact, not returns alone, and its water work sits in the food-water nexus, the agtech that saves water on the farm. As of 2026, (don't) Waste Water tracks 3 water companies and rates its water commitment Committed.
Compiled by Antoine Walter, (don't) Waste Water, from official filings and direct intelligence in Leviathan.
The take
Future Food Fund is not a water fund, and that is exactly why it earns a place in my water database. It is a Dutch impact investor (one that chases environmental and social returns alongside the money) backing the food and farming system, where water keeps showing up as the constraint that decides whether a crop makes it to harvest.
Future Food Fund did not start in a finance tower. It grew out of People, Planet, Profit, the investment vehicle of Peter Arensman, who grew up on a Dutch farm before building and selling a string of companies, and who now lectures at Wageningen, the Netherlands' agricultural university. The fund was established in 2017 in Utrecht and has always written its cheques through that farmer-to-financier lens.
Future Food Fund's water exposure is the kind a newcomer would miss, because none of it is labelled water treatment. The fund backs agtech that manages water on the farm: Sensoterra, whose wireless probes read soil moisture so growers stop over-irrigating; HEMAV, whose satellite AI tells a field when it actually needs water; and EF Polymer, a super-absorbent made from fruit peels that holds water in the soil for longer. Across those three water companies it has led most of the rounds it joined, which means it sets the terms rather than just following.
Future Food Fund closed its second fund at €40 million in February 2024, anchored by the European Investment Fund, the EU's own venture backer, alongside the InvestEU programme and the Dutch Future Fund. Fund II carries the EU's strictest sustainability label (SFDR Article 9) and writes Seed and Series A cheques. For someone new to water investing, Future Food Fund is a reminder that some of the most practical water bets are sitting quietly inside a food portfolio.
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 · 3 water companies
Invests alongside
Highlighted = profiled on (don't) Waste Water.
Frequently asked
- What does Future Food Fund invest in?
- Future Food Fund invests in early-stage food and agriculture startups across North West Europe, backing companies in regenerative agriculture, alternative proteins, and circular food systems. Its water-relevant work covers agtech that saves water on the farm: soil-moisture sensing, satellite-guided irrigation, and soil super-absorbents. (don't) Waste Water tracks 3 such water companies and rates the fund Committed.
- Is Future Food Fund a water fund?
- Future Food Fund is not a water-only fund. It is a food and agriculture impact investor, and water shows up as one thread inside a wider portfolio. Its water exposure is the food-water nexus: agtech that helps farms use less water, rather than the water-treatment or utility deals a dedicated water fund would chase.
- Who runs Future Food Fund?
- Future Food Fund is led by Founding and Managing Partner Jeroen Kimmels alongside Founding Partner Peter Arensman, who grew up on a Dutch farm, and Managing Partner Jaap Strengers. Partner Silla Scheepens and Investment Director Kim Wagenaar round out the small Utrecht-based investment team.
- Where is Future Food Fund based?
- Future Food Fund is based in Utrecht, in the Netherlands, and invests across North West Europe. Established in 2017, the fund grew out of People, Planet, Profit, the investment vehicle of Dutch entrepreneur Peter Arensman, and still runs its investing from the central Netherlands.
- How much has Future Food Fund raised?
- Future Food Fund closed its second fund at €40 million in February 2024, backed by the European Investment Fund, the EU InvestEU programme, and the Dutch Future Fund. Fund II is an SFDR Article 9 impact fund, the EU's strictest sustainability tier, writing Seed and Series A cheques.