Investor Profile: Five Seasons Ventures — Thesis, Cheque Size & How to Apply

Five Seasons Ventures is the first European impact venture fund focused entirely on the food value chain, and it has spent a decade backing the consumer brands reshaping what Europe eats. Based in Paris and founded in 2016, it partners with food brands that have the ambition to become category leaders and sustainability champions. For founders building the next generation of food companies, Five Seasons Ventures funding is a specialist route that combines capital with deep food-industry expertise.

Thesis: food brands that can lead a category

Five Seasons invests across the food value chain, from food technology and agricultural technology to digital-native food brands and e-grocery. It looks for future category leaders with high growth potential, proven technology and early commercial traction, typically at Series A or B stage, while also considering exceptional pre-revenue companies at seed stage. Its portfolio spans alternative proteins, pet food, healthy snacking and e-grocery, and the firm is a certified B-Corp and a signatory of the Principles for Responsible Investment, reflecting an impact mandate woven into its investment decisions.

The firm's edge is operating knowledge. Its team brings decades of venture experience plus operational expertise in the food industry, and it works with founders on scaling, branding and distribution rather than simply writing a cheque.

Fund size and cheque size

Five Seasons reports more than €250 million in assets under management across its funds. In Series A and Series B rounds it typically invests €2–4 million initially, and it can deploy up to €20 million per company over time, usually taking a significant minority stake and a board seat. It prefers syndicated investments alongside value-adding co-investors, so founders should expect a collaborative round rather than a solo bet.

Notable portfolio companies

Five Seasons' best-known exit is Just Spices, which was acquired by Kraft Heinz in 2021. Its portfolio also includes air up, the scent-based flavouring bottle company in which the firm led a financing round of more than €40 million; Butternut Box, the fresh dog food subscription brand; YFood, the meal-replacement brand; and KoRo, the bulk food and snacking brand.

Partners and approach

Five Seasons was co-founded by managing partners Niccolò Manzoni and Ivan Farneti. Manzoni began investing in pioneering food technology companies in 2014, including early exposure to names such as Impossible Foods and Beyond Meat while at a European family office, and Farneti has been an active venture investor for over 25 years, with experience spanning structuring investments, governance and exits to strategic acquirers and a Nasdaq listing. The firm describes its team as driven by passion and in it for good, and it reports its impact and ESG indicators to investors and the public each year.

How to apply for funding

No public application portal was found on the firm's website. Founders can reach Five Seasons through its official website at fiveseasons.vc and its published general contact address [email protected]. A strong approach sets out the brand's category ambition, evidence of traction such as repeat purchase or retail listings, the size and stage of the round, and why a food specialist is the right lead investor. Because the firm prefers syndicated rounds, naming credible co-investors already engaged can strengthen an introduction.