Transforming today with tomorrow in mind
Rooted in Grosvenor’s purpose to deliver lasting commercial, social and environmental benefit, our approach is grounded in long-term partnership, deep sector expertise, and a commitment to measurable impact. Together with our portfolio companies, we are driving progress across the food value chain - improving health outcomes, regenerating the natural environment, and strengthening the economic sustainability of farming and food production.
Grosvenor Food & AgTech's 2024 Impact Report highlights how our portfolio companies are helping to reshape the global food system through scalable, innovative solutions in the agrifood sector, transforming today’s practices with tomorrow in mind.
Please find out more below or by clicking through the links above.
"Against a backdrop where we are witnessing growing global calls for retrenchment, particularly in relation to environmental sustainability, I am delighted by the positive impact our investments in food and agtech are yielding, and that are showcased in this 2024 Impact Report.
They validate our approach and incentivise our resolve."
Mark Preston
Executive Trustee & Chief Executive
Grosvenor
The Grosvenor Food & AgTech team
United by a passion for agrifood innovation and a commitment to positive impact, the Grosvenor Food & AgTech (GFA) team stewards a portfolio of companies which are tackling issues across the value chain, from crop inputs to consumer products.
Our Theory of Change
Creating positive outcomes is at the heart of our activities.
Our Theory of Change (below) outlines our strategy to address systemic issues across the food and agriculture sector. It helps us identify, plan, and implement actions to achieve meaningful outcomes through every investment we make.
Our investment themes
We invest at the intersection of compelling commercial market drivers and opportunities to advance GFA’s targeted impact outcomes. Reflecting the interconnected nature of the food system and its challenges, our investment themes cover the breadth of the value chain, resulting in a diversified overall portfolio. Our themes are regularly reviewed to respond to evolving dynamics in the global agrifood sector.
For our 2024 Impact Report, we have selected 10 current portfolio companies, highlighting examples across the value chain with a wide range of stakeholders. Eight of the 10, are more advanced in setting and measuring impact metrics. These companies are profiled to explain our thesis for investment, key impact metrics and a case study presented from a stakeholder perspective. Two of these ten companies, represent earlier stage ventures with significant commercial and impact potential.
Scaling our impact
We have increasingly focused our capital investments towards opportunities which present scalable business models and solutions to systemic food system issues.
To achieve that growth potential, our team favours accepting scaling and implementation risk in the portfolio rather than the technology or market risk more often present in less mature ventures.
Each prospective company considered for investment must reflect a consistent set of ingredients which will allow it to achieve the magnitude of enduring impact GFA seeks through our investments.
Our Impact Framework
GFA frames the positive impact we seek along three primary categories of stakeholders: the planet, the producer, and the consumer. When a new investment is identified, the potential impact of its business model will be assessed against the three target areas.
All portfolio companies must contribute to the first category of ‘Sustainable planet’ and fulfil at least one other objective outlined under the remaining categories of ‘Thriving producers’ or ‘Improving health and nutrition’.
Impact case studies
All of our portfolio companies are managed by teams who are passionate about improving the food system through innovation.
The case studies below, from a selection of our portfolio companies, showcase the progress made on impact outcomes and illustrate how we aim to drive meaningful change in response to the systemic challenges facing the food system. Ultimately, the impact targeted by our portfolio companies needs to benefit their respective stakeholders, so we have endeavoured to capture those voices in our case studies, representing a range of stakeholder perspectives.
CASE STUDY
AeroFarms
Celebrating AeroFarms' one year of partnership with Costco
AeroFarms has marked its first year of partnership with Costco, with its nutrient-dense Micro Rainbow mix now available in approximately 250 stores nationwide across the US.
Consumer demand for microgreens is growing due to their culinary versatility, differentiated taste, and superior nutritional benefits, containing 4-40x more vitamins and phytonutrients per pound relative to their mature counterpart. AeroFarms is supplying this demand with consistent, year-round supply, including seasonal offerings like Micro Broccoli during Costco’s 'Heathy Habits' month.
With its innovative patented technology, AeroFarms’ approach to microgreen production enables accessibility for consumers to a nutrient-dense product which has traditionally faced challenges in achieving national retail distribution due to low shelf life.
Molly Montgomery, CEO of AeroFarms said: “We use technology to sustainably produce microgreens with industry leading quality, superior nutrition, and unique flavours. We are delighted that Costco’s members consider our microgreens as a new staple for a healthy lifestyle.”
CASE STUDY
Gousto
Science Based Targets initiative (SBTi)-approved net zero carbon targets
The global food system accounts for up to a third of greenhouse gas emissions, and Gousto is determined to lead by example through its efforts to reduce that contribution. In 2024, it became the world’s first recipe box company to have its climate targets approved by the SBTi, covering near-term targets, net zero by 2050, and FLAG (forest, land and agriculture) emissions.
“I’m incredibly proud of the team for getting these ambitious targets approved and putting sustainability at the centre of what we do” says Hugh Lewis, Gousto’s Head of Insights, Sustainability & Health. “This is of course just the start — what really matters is the action that we take to achieve these targets.”
The company is taking swift action: reducing Scope 1 and Scope 3 emissions, increasing renewable energy use, phasing out gas, and collaborating with suppliers on sustainable farming. In 2024 alone, Gousto boosted solar capacity to 2,500 kWp, more than doubling overall primary renewable electricity use from 10% to 22%. Through innovations such as lower-carbon recipes, Gousto is proving that climate-conscious choices can still deliver delicious meals.
CASE STUDY
Ostara
Advancing circular water management in the Netherlands
Vallei en Veluwe, the regional water board serving several provinces in the Netherlands, is deeply committed to advancing a circular economy — from recovering valuable raw materials from wastewater to generating energy from renewable sources.
The organisation has been fully energy neutral since 2020 and aims to become entirely circular and climate-positive by 2050.
As part of this journey, it has partnered with Ostara for nearly a decade to implement advanced nutrient recovery solutions.
“We don’t view our wastewater as waste — it contains phosphate and other valuable nutrients that we can recover using Ostara’s technology,” said Bram Hengeveld, Process Coordinator for the Amersfoort region. “This partnership has been a key step towards achieving our circular economy ambitions.”
By sustainably recovering phosphorus and nitrogen for reuse in high-value granular fertilisers, Ostara’s solution also removes excess nutrients from water discharges, helping to protect natural ecosystems. The process reduces chemical use compared to conventional wastewater treatment methods, supporting Vallei en Veluwe’s broader environmental goals.
CASE STUDY
Oxbury
New Gen farmer supported by Oxbury
Fergus Corrigan’s Northern Lavender, the UK’s largest organic lavender farm, blends traditional growing methods with product innovation to create luxury products such as candles and bath salts.
As a first-generation farmer with an unconventional business model, Fergus secured vital financial backing through Oxbury’s New Gen program, designed to empower innovative new farmers. “From the very first conversation, we understood that Fergus’s proposal was unique, quite far from the more conventional farming that Oxbury do on a daily basis but certainly well within Oxbury’s lending policy,” explained Oxbury’s Agricultural Relationship Manager Tom Powell.
Oxbury’s support enabled Fergus to invest in specialised harvesting equipment, driving efficiency and business growth. With demand increasing, Fergus is now expanding into agritourism and retail, promoting sustainable local agriculture and eco-friendly products.
CASE STUDY
TemperPack
TemperPack’s sustainable solution for the Wild Alaskan Company®
Wild Alaskan Company, founded by third-generation fisherman Arron Kallenberg, delivers wild-caught, sustainably sourced seafood. Frozen at peak freshness, their seafood offers a healthier choice while supporting responsible fishing practices in Alaska and reducing reliance on imported seafood in the US.
To further its sustainability mission, Wild Alaskan partnered with TemperPack to adopt Green Cell Foam — a certified compostable, high-performance insulation that replaces traditional polystyrene. This innovative packaging choice significantly reduces plastic waste while maintaining product quality during shipping. "Temperpack has been a great partner." said Garrett McMullen, Packaging Category Manager at Wild Alaskan Company. "By allowing us to stay away from polystyrene, they've helped us meet sustainability goals while also delivering on core business objectives."
By combining TemperPack’s ecofriendly packaging with its own responsible sourcing practices, Wild Alaskan is delivering on its holistic approach to environmental stewardship, providing fresh, sustainable seafood to customers.
Our portfolio companies
Discover more about how our portfoliocompanies are harnessing the power of technology and deploying it through innovative business models to deliver lasting solutions that can be deployed at scale.
Discover more about how our portfoliocompanies are harnessing the power of technology and deploying it through innovative business models to deliver lasting solutions that can be deployed at scale.