Berlin – SMP advised the French investor Five Seasons Ventures on the Series A financing round of vly. In addition to lead investor Five Seasons Ventures, the renowned Berlin startup incubator Rocket Internet participated in the round. The parties involved agreed not to disclose the amount of the investment volume and further details of the deal. Based on pea protein, the FoodTech vly from Berlin produces a plant-based milk alternative and is already operating in a billion-dollar market that poised for more growth in the future. Five Seasons Ventures received comprehensive legal and tax advise from Frederik Gärtner, Benjamin Ullrich and Sebastian Schwarz together with Pia Meven and Jonas Huth. The team had already advised the French FoodTech VC on numerous transactions, including its investment in the Munich-based startup Air up earlier this year.
"Company takeovers by globally operating corporations, intended or imminent IPOs, supply shortages and billion-dollar valuations – the disruption of the market for dairy products can currently be observed worldwide and is particularly apparent in the area of plant-based milk alternatives", says Frederik Gärtner. "With its investment in vly, Five Seasons Ventures backs a company that is already well established, especially in Germany, and has great potential in a rapidly growing market. We are very pleased that we were once again able to support our client Five Seasons Ventures with our advisory expertise", adds Benjamin Ullrich.
Advisors Five Seasons Ventures: SMP
Dr. Benjamin Ullrich, Partner | Dr. Frederik Gärtner, Associated Partner | Dr. Sebastian Schwarz, Associated Partner | Pia Meven, Associate | Jonas Huth, Associate
Five Seasons Ventures
Five Seasons Ventures is the first European fund focused on investing across the food value chain, based in Paris. They partner with Food Tech entrepreneurs to build a healthier, more sustainable and efficient food system. The fund provides capital, deep expertise and connections in the food sector to help companies succeed. Five Seasons Ventures' portfolio companies include YFood Labs, Just Spices and THIS, among others.
vly was founded in 2018 by Nicolas Hartmann, Niklas Katter and Moritz Braunwarth. Ever since, the company has been pursuing its mission to revolutionize the dairy industry with milk alternatives. vly relies on a pea protein, which can be grown locally and is a very climate-efficient protein supplier. The Berlin-based FoodTech startup researches, develops and produces in Germany. Since 2020, vly can be bought in large supermarket chains and in its own online shop. The company is growing rapidly: by the end of 2021, company has a lineup of new products and plans to double the number of its employees. numerous new products are to be launched and the number of employees is planned to be doubled.
SMP is a boutique law firm for tax and business law which is active in the core fields of Tax, Funds, Corporate, Litigation and Transactions. The attorneys and tax specialists at SMP represent a broad client base, which ranges from emerging technology companies and family-run SMEs to large corporations as well as private equity and venture capital funds. Founded in 2017, SMP has become one of the leading players for venture capital, private equity and fund structuring in Germany. The firm and its partners have been recognized nationally and internationally by JUVE, Best Lawyers, Legal 500, Focus and Chambers and Partners. Today, SMP has more than 70 experienced lawyers and tax specialists in three Offices in Berlin, Hamburg and Cologne.