About Mandi Ventures
Mandi Ventures is a venture capital firm founded in 2019. It is primarily based out of Paris, France. As of Jun 2025, Mandi Ventures is an active investor, having invested in 9 companies, with 1 new investment in the last 12 months. It primarily invests in Seed round in United States based startups. Its investments are spread across a wide range of sectors from Food and Agriculture Tech to FinTech and Enterprise Applications. Most recently it participated in the $***** Seed round of Lembas Overall, Mandi Ventures portfolio has seen 1 unicorn, namely FBN. A lot of funds co-invest with Mandi Ventures, with names like BlackRock sharing a substantial percentage of its portfolio. Mandi Ventures has team of 6 people including 1 partners.Key Metrics
Team Members
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed, Series A & 1 more
Portfolio Unicorns
Deals in last 12 months
Mandi Ventures' List of Top Investments
Mandi Ventures has a portfolio of 9 companies, one of which is a Unicorn. Their most notable investmentis in MultusTheir portfolio spans across United States, Brazil, France and 3 more locations. They have invested in Food and Agriculture Tech, FinTech, Enterprise Applications and 7 other sectors, across stages such as Seed, Series A and 1 more. Here is the list of top investments by Mandi Ventures:
1. FBN
Network of services for farm management, supplies, and financial solutions. The platform provides access to agricultural inputs, financing options, and marketing programs. It connects farmers to grain buyers and offers data-driven insights. The network facilitates community engagement through online forums and events.
Key facts about FBN
- Founded Year: 2014
- Location: San Carlos (United States)
- Valuation: $*****
- Stage: Series G
- Total Funding till date: $981M
- Employee Count: 651 as on Mar 31, 2026
- Investors: TriplePoint Capital, Fidelity Investments and 32 Others
- Latest Funding Round: Series G, Jul 28, 2025, $*****
- Highlight: Editors' Pick
2. Multus
Provider of lab-grown meat alternatives. The company claims it is using cells from livestock animals and multiplying them in the laboratory to obtain whole cuts of meat.
Key facts about Multus
- Founded Year: 2019
- Location: London (United Kingdom)
- Valuation: $*****
- Stage: Series A
- Total Funding till date: $9.3M
- Employee Count: 19 as on Mar 31, 2025
- Investors: Plug and Play Tech Center, Spectrum Impact and 26 Others
- Latest Funding Round: Grant (prize money), Jan 16, 2023, $*****
- Highlight: Editors' Pick
Manufacturer of functional mushroom-infused chocolates. These chocolates are designed to enhance sleep, focus, and overall wellness. The company uses organic mushrooms, adaptogens, and nootropics as key ingredients. Products are offered in various formulations targeting specific benefits, such as improved sleep or enhanced cognitive function. The chocolates are positioned as a decadent and convenient way to incorporate functional ingredients into one's daily routine.
Key facts about Alice Mushrooms
- Founded Year: 2020
- Location: Venice (United States)
- Stage: Series A
- Total Funding till date: $8M
- Employee Count: 18 as on Jan 31, 2026
- Investors: L Catterton, Unilever Ventures and 3 Others
- Latest Funding Round: Series A, Sep 10, 2025, $*****
4. Cultivated
Developer of lab-grown dairy alternative products. The company offers cream & fat dairy alternative products made the using fermentation method. The company claims its products are used in the production of milk, cheese, ice cream, etc.
Key facts about Cultivated
- Founded Year: 2021
- Location: Wadenswil (Switzerland)
- Stage: Seed
- Total Funding till date: $6.5M
- Investors: Zurcher Kantonalbank, Plug and Play Tech Center and 13 Others
- Latest Funding Round: Seed, Mar 06, 2024, $*****
- Highlight: Editors' Pick
5. Seedz
Provider of an online marketplace for exchanging seeds with loyalty points. It offers a loyalty program where users can buy products and earn seedz points. Its product offerings include agricultural machinery, farm equipment, fertilizers, feeds, and storage infrastructures which can be purchased using seedz points.
Key facts about Seedz
- Founded Year: 2016
- Location: Belo Horizonte (Brazil)
- Stage: Series A
- Total Funding till date: $16.5M
- Employee Count: 126 as on Jul 01, 2024
- Investors: Partner Ventures, The Yield Lab and 8 Others
- Latest Funding Round: Series A, Dec 07, 2022, $*****
- Highlight: Editors' Pick
Mandi Ventures' Year-on-Year Investment Trends
Mandi Ventures has invested in 9 companies over the last 6 years, with an average of 1 new investment annually in the last 5 years. In 2025, it made 1 investment. Its most recent first time investment was in Lembas.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 0 | 0 |
2025 | 1 | 0 | 1 |
2024 | 1 | 0 | 1 |
2023 | 2 | 0 | 2 |
2022 | 1 | 0 | 1 |
2021 | 0 | 0 | 0 |
2020 | 1 | 0 | 1 |
Mandi Ventures' Investments by Stage
Mandi Ventures has made 3 investments in Seed stage with an average round size of $3.2M, 2 investments in Series A stage with an average round size of $6.18M and 1 investment in Series F stage with an average round size of $250M.Stage of entry | No. of Investments |
|---|---|
Seed | 3 |
Series A | 2 |
Series F | 1 |
Note: We have considered here, only first round of investments
Mandi Ventures' Investments by Sector
Mandi Ventures has a diverse portfolio, with companies operating in the Life Sciences, Food and Agriculture Tech, High Tech, Sustainability Tech and Consumer. Notably, it has invested in 8 Tech companies, 7 Enterprise (B2B) companies, 2 Marketplace companies and at least 2 companies focusing on Software.Sector | No. of Investments |
|---|---|
Life Sciences | 3 |
Food and Agriculture Tech | 2 |
High Tech | 2 |
Sustainability Tech | 2 |
Consumer | 1 |
Others | 4 |
Note: We have considered here, only first round of investments
Mandi Ventures' Investments by Geography
Mandi Ventures has made most investments in United States (2), followed by France where it has made 1 investment.Country | No. of Investments |
|---|---|
United States | 2 |
France | 1 |
Israel | 1 |
Switzerland | 1 |
United Kingdom | 1 |
Note: We have considered here, only first round of investments
Mandi Ventures' recent investments
Mandi Ventures has not made any investment in 2026 so far.Here are the most recent investments by Mandi Ventures:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Jun 11, 2025 | Israel | Seed | 1613 | [+6] | |
Mar 06, 2024 | Switzerland | Seed | 2509 | [+5] | |
Nov 06, 2023 | United States | Seed | 8850 | - | |
Jan 16, 2023 | United Kingdom | Series A | 9796 | [+3] | |
Jun 2022 | France | Series A | 6400 | [+1] |
Unicorns in Mandi Ventures' Portfolio
Mandi Ventures has 1 unicorn in its portfolio - FBN. The most recent unicorn in their portfolio is FBN which became a unicorn in 2021, 1 years after Mandi Ventures first invested in it.Here is a list of unicorns in Mandi Ventures' portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
72 | Network of services for farm management, supplies, and financial solutions | 2014 | San Carlos | Series G | urgzcip |
Team profile of Mandi Ventures
Mandi Ventures has a team of 6 members including 1 Partner, 1 Venture Partner and 1 Principal located in United States, Belgium and 1 more location. Mandi Ventures' team does not sit on the board of any company as of now.Here is a list of all team members in Mandi Ventures:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Belgium | - | ||
Venture Partner | San Francisco | - | - | |
Principal | Brazil | - |
Co-investors of Mandi Ventures
Over the past 6 years, 51 investors have co-invested in Mandi Ventures's portfolio companies. This includes funds and angels.
- Invested before Mandi Ventures: Google Ventures, T. Rowe Price and 17 others have invested in rounds before Mandi Ventures. There is 1 company where Google Ventures has invested before Mandi Ventures and 1 company where T. Rowe Price has invested before Mandi Ventures.
- Top Co-investors of Mandi Ventures: 24 investors entered a company along with Mandi Ventures. These include investors like BlackRock (1 company).
- Invested after Mandi Ventures: A total of 8 investors have invested in Mandi Ventures's portfolio after their investments. Top Investors include ADM (1 company), Fidelity Investments (1 company) and Colle Capital (1 company).
Recent News related to Mandi Ventures
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Lembas Emerges from Stealth with Breakthrough Discovery in Natural GLP-1 for Weight Management
PR Newswire•Jun 11, 2025•FLORA Ventures, Bluestein Ventures, fresh.fund, Longevity Venture Partners and 4 others
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Tarken secures second round of funding from Monashees, Mandi, and Maya CapitalGrupoglobo•Mar 31, 2025•Tarken, Monashees, Mandi Ventures, Maya Capital
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Mandi Ventures invests in GrowinCo, 'Uber of industries'Fusoes & Aquisicoes•Nov 06, 2023•GrowinCo., Mandi Ventures
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Multus Biotechnology Raises $9.5m Series A To Build Growth Media Production PlantThe Spoon•Jan 16, 2023•Multus, Mandi Ventures, SOSV, Big Idea Ventures and 3 others
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At Mandi Ventures, a “miraculous” gumdrop to satisfy investment hungerFusoes & Aquisicoes•Jun 17, 2022•Mandi Ventures, Miraculeux Supplements
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BlackRock, three others buy Bandhan Bank shares worth Rs 10.6 thousand croresDeccan Herald•Aug 04, 2020•BlackRock, Bandhan Bank, Temasek, SBI Mutual Fund and 15 others
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BlackRock leads FBN’s $250m Series F as ag marketplace puts focus on sustainabilityAgFunderNews•Aug 03, 2020•FBN, BlackRock, Baron Capital Group, Balyasny Asset Management and 12 others
