Situation

• Our client is a venture capital fund focused on sustainable investments in agricultural, food, biotech, and related industries
• They asked for our help in their diligence of a European B2B food ingredients company using fermentation and enzymes to upcycle food waste and side streams into savoury food ingredients. Specifically, they wanted to understand the relevance of the target’s proposition, its competitive landscape, and come to a realistic view of its addressable market

 

What we did

• Interviewed target management, including the CEO, CFO, and CTO, about commercial strategy and product technology
• Reviewed the target’s business plan, financial model, accounts and growth forecasts, plus technical datasheets and intellectual property documents
• Sourced and conducted 10 expert interviews from potential competitors, customers, and distributors, at a low cost
• Summarised the target’s performance versus alternatives on key purchasing criteria
• Detailed market structure and differentiation from potential competitors
• Built a market sizing model based on Euromonitor data, information collected from expert interviews, and desk research

 

Results delivered

• We delivered a report detailing market sizing methodology and conclusions, performance versus alternatives, market structure and differentiation
• Our client decided to invest in the target in a competitive process and the target chose our client as investor
• Our client commented that they believe they won because of the added value provided with our help (e.g. we introduced the target to a leading European stocks/soups player)