Field Notes: Inside KKR’s food automation play; How to sell £200 carbon credits via UK’s biochar market

Inside KKR’s food automation play; How to sell £200m ($271m; €237m) carbon credits via UK’s biochar market; France Valley's €600m milestone; SWEN Capital Partners hits €160m first close; and more in this week's Field Notes.

‘Ripe for automation’ – Inside KKR’s food processing play

“Food is not an easy thing to automate because it’s natural and it’s amorphous,” KKR partner Joshua Weisenbeck tells Agri Investor.

“It’s not like a piece of metal that is the same every time. You really need more advanced technology, vision systems, more advanced robotics and software to automate.”

Read the full story here.

They said it

“I would say now there’s some comfort level around expectations… and so I think in total 2025 will be less than what we were hoping, but hopefully in line with 2024”

Neuberger Berman managing director Kaci Boyer (registration required) told the City of San Jose Police & Fire Department Retirement Plan she expects to see an uptick in distributions in the second half of 2025, our colleagues at Venture Capital Journal report.

Biochar

How to sell £200 carbon credits via UK’s biochar market

The UK’s first high-profile biochar carbon credit deal was completed in June when sustainable architecture firm Bennetts Associates purchased 8.6 tonnes of carbon removal credits from Restord, a biochar producer based in Cornwall.

Dive in the details of the deal here.

Fund watch

France Valley’s €600 million milestone

French natural capital asset manager France Valley has taken more than €600 million in capital commitments for its evergreen forestry fund. France Valley Patrimoine was launched in 2017 and is fully invested in French timberland. The firm’s flagship vehicle has amassed a portfolio of more than 35,000ha, 80 percent of which is aligned with the EU taxonomy for sustainable activities, according to a statement from the firm. Read more here.

SWEN Capital hits €160 million first close

SWEN Capital Partners held a €160 million first close on its SWEN Blue Ocean 2 fund, which has a €300 million target. The Article 9 fund invests in start-ups that tackle the three “existential threats affecting ocean biodiversity, which include over-fishing, pollution and climate change.” Continue reading...

Mekong Capital puts Earth fund on ice

Vietnam-focused private equity firm Mekong Capital has postponed the launch of a regenerative agriculture fund until 2026. Bloomberg reported last week that Mekong Capital was planning to launch a new agriculture fund next year with a target of $200 million.

Read this week's Field Notes in full.