Update: This newsletter from 19th March is a full preview of what you can expect from Conviction. While still completely free to subscribe, comment and contribute, readers on the website can sign up and log in to read some stuff by us - not contributors.

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Welcome to the bi-weekly Conviction Newsletter focused on impact investing and technology for good with news, opinion and analysis from businesses committed to Sustainable Development Goals.

This week: Natalie Portman’s getting hotter, soldier flies deployed to fight climate change and a new poll reveals what makes people happy.

But first, shoutouts to two of our favourite subscribers, Mission: Net Zero and Staze. Catch our recent interview with Staze and watch this space for Mission: Net Zero.

Start on a high

Recycling makes people happy

In a survey conducted by Ecover, 52 per cent of respondents said single-use plastics were a real downer. On the flipside, 66 per cent get a mood boost from recycling and measures that reduce environmental impact. Ecover conducted the research in anticipation of a new partnership with the reality star and activist Camilla Thurlow,* together launching a revamped, former petrol station as The Ecover Refillery for its product top-ups.

Speaking with Conviction, an expert who was not involved in the research said:

“Recycling gives you endorphins. Endorphins make you happy. Happy people just don't shoot their husbands, they just don't.”

*Asked for a cheeky comment from Thurlow about the survey results a spokesperson for Ecover politely dodged the question and asked for this newsletter to be forwarded.

Editor’s note: Conviction is free to subscribers.

Getting hotter

Monsoon season at FarmersOnly.Com

We’ve all had that one friend that found themselves in a drought and signed up to Farmers Only to find a cowboy, because ‘city folks just don’t get it.’ Well, turns out, there’s a lot of hot farmer assets out there right now so perhaps those thirsty young lovers were onto something in the first place.

Let’s start with vertical farming, where Netherlands-based agtech Future Crops just closed a round led by China's Tencent. While that was undisclosed, it follows a seed round that nabbed $30 million from investors including A&F Ventures. Then there’s the UK-based startups GrowUp Farms that raise £100 million and Square Mile Farms in an ongoing crowdfunding campaign (more below). The sector is getting so hot M&A is in the air with Local Bounti acquiring rival Hollandia Produce Group for $122.5 million. Good luck finding a cheap date on the market.

You’d think capping this off with a bad joke about PlentyOfFish.com would be enough, but it turns out FarmersOnly.com has a peer on the high seas, SeaCaptainDate.com, claiming to be “the internet's number one dating site for Sea Captains who wish to connect with men and women (on land and on sea) who share a mutual love of the ocean.” You're welcome, singletons, don't let this be the one that got away.

From vertical farming, to alternative eggs, dairy and other products in the protein space, 2022 could well be a tipping point in food system innovation. In just the few weeks since Conviction News reported Wildtype’s $100 million Series B (love you, Leo), cell-based seafood startup Finless announced a $34 million round and plant-based competitor Plantish secured over $12 million.

On land and at sea, sustainable food and agtech can’t seem to get enough love from venture investors. Have a scoop, deal news or niche dating app? Drop us a line at news@conviction.news with any we missed.

Watch this space for more on Natalie Portman with more on food and agtech, investors and startups coming soon.

What we’re reading

A Bug’s Life, Ant Island UK, the sequel

A Bug’s Life, the sequel, could conceivably follow the plot of Brexit after Ant Island took back control from the EU’s gang of grasshoppers. The anticlimax and series of unintended consequences continue. “Overnight, everything became illegal,” Tiziana Di Costanzo, Co-Founder of London’s first edible insect farm, Horizon Foods told Sifted. In Sifted’s analysis, the epicentre of European tech and venture investment is missing a huge opportunity.

Speaking with Conviction News, Sasha Babitsky, CEO of Entoprotech and venture partner at Waarde Capital said global regulations and perceptions need to change. While insect-based foods whet the appetite of investors, the Israel-based startup Entoprotech has demonstrated several applications with huge potential for insects to reduce emissions.

Sasha Babitsky, CEO of Entoprotech told Conviction News:

"Insect-based solutions should follow the progression of alternative energy, which were broadly incentivised through their initial stages of development and, today, are reaching grid parity."

More at Conviction News, Sifted

Views with Conviction

Here’s a sneak peek at what to expect from Conviction News in the next few weeks. We’ll have contributor opinions that really get into the weeds, including the Financial Stability Board’s Task Force on Climate-related Financial Disclosures, sustainable blockchain technology and more to follow. In case you missed it, Henry Popiolek, Co-Founder & COO of Staze recently spoke with Conviction News about how to make travel and tourism greener.

Following the preview in this newsletter, Conviction has since spoken with one of Europe’s leading technology companies, before applications close for ABB's Electrification Startup Challenge 31st March. Subscribe for free, follow @ConvictionWire and forward to a founder who could get $30K and a chance to work with ABB, SynerLeap and Microsoft.

More at Conviction News

In the news

The other letters in ESG

Screenshot 2022-03-08 at 09.59.20
Image credit: Dealroom

Needless to say, this chart is a bit disheartening. For International Women's Day, Dealroom released data showing how much women-founded startups have raised in 2022. Dealroom projects a similar pattern emerging with only 0.4 per cent of European venture capital going to women-founded startups, in line with previous years. The report points to previous findings from First Round Capital and Boston Consulting Group (BCG) that founding teams with women are more likely to exit and have a higher internal rates of return, 112 per cent versus 48 per cent.


The lack of investment into female-founded startups is a missed economic opportunity. Women founders hire 2.5x more women into their teams, in an industry that struggles with diverse hiring. As this generation of startups shape and define our future societies, also imperative that the make up of our societies are reflected in entrepreneurial teams.”

Dive deeper at Dealroom

  • This week a new global coalition of investors unveiled its Global Standard on Responsible Climate Lobbying. The group has almost 4K members that have collectively more than $130TN AUM. According to Reuters, the new standard consists of fourteen policy and practice indicators for compliance, stepping up pressure on global corporates in sustainability (via Responsible Investor)
  • The US President, Vice President and Transport Secretary earmarked almost $1.5BN for competitive grants to fund the modernisation of bus fleets and infrastructure across the country as part of the Biden Administration’s post-covid infrastructure drive and revised *Lite-* Green New Deal plans (via CleanTechnica)

Reports, events and competitions

An alarming new study released on the 7th March warns the Amazon rainforest is fast approaching a tipping point and could soon become savannah, plagued by drought and scorched by wildfires in a report that reads like the end of days. Scientists say tree clearing and lower rainfall in the last two decades have left 75 per cent of the basin’s rainforest highly vulnerable which could, even worse, trigger unabated dieback as the Amazon’s capacity to influence its own climate and water cycle is diminished.

Niklas Boers, Professor at the Technical University of Munich:

“Seeing such a resilience loss in observations is worrying. The Amazon rainforest stores huge amounts of carbon that could be released in the case of even partial dieback.”

More at The Guardian

  • Pitchbook’s analyst note on ESG, PE, VC and greenwashing is worth a read. "Peeling back the layers of ESG and Impact investing in PE, VC," and WTF, Pitchbook concludes there’s far too much greenwashing in the market amid the divergence of approaches to and measurement of impact in private equity and venture capital (via Pitchbook)
  • Tune in on the 28th March for the UN PRI’s webinar, ‘A Legal Framework for Impact,’ covering a report by the same name with a presentation of key findings, legal analysis of European Union regulation and discussion of target areas for reform (via UN PRI)
  • The UK and Scottish governments have stumped up £180M funding to mobilise innovative, low-carbon solutions for the North Sea. The Net Zero Technology Centre is currently running a £10M funding competition (via edie)


Portland-based Black Founders Matter has said it's now a $10 million fund for black founders, backing entrepreneurs with capital sorely missing in an ecosystem otherwise awash with dry powder. An industry-agnostic investor, Black Founders Matter has already backed ten companies like HUED, a woman-led startup tackling healthcare inequalities. The new fund’s target opportunities include tickets $100,000 plus for early-stage startups that are founded and led by black entrepreneurs, sourcing deals from a pipeline of university spinouts, accelerators and competitions.

Marceau Michel, Founder of Black Founders Matter:

“Black is the new vertical. The entire emphasis of our fund is about creating accessible venture capital for Black entrepreneurs and diverse innovative problem solvers.”

More at ImpactAlpha

  • Climate fintech heats up with sector specialist CommerzVentures, the German VC, launching a new €300M carbon offset-focused fund (via PYMNTS)
  • France's Kyotherm, an investment company renewable heat production finance, raised €45M in late-stage venture in a round led by Bpifrance and Andera Partners (via Dealroom)
  • London-based impact investor Elbow Beach Capital announced a £20M vehicle focused on decarbonisation, sustainable energy and social impact opportunities (via BusinessWire)
  • Antler closed a $13.5M East Africa-focused fund for its Nairobi-based Antler East Africa office (via Venture Capital Journal)

That was quick - what’d we miss? Ping us at news@conviction.news with updates.


Founded by Peony Li in London, the healthtech Jude has announced a £2 million fundraise, claiming its the biggest-ever pre-seed round for a solo-woman founder in the UK. The lead investor, Samos VC was joined by others, including household names, backing Jude’s groundbreaking bladder care and mission to break down taboos. With products currently in clinical testing, Jude is developing fully biodegradable and 100 per cent plant-based liners that have been co-designed with a community of 300 women.

Rakesh Narayana, General Manager at Access VC:

“Bladder issues, incontinence and leaking is a severely understudied and stigmatised space. Jude has created a fresh new brand to change this with access to education, treatment and management. We’re proud to back purpose-driven founders who are not afraid to call out the challenges faced by underserved communities, buidling new brands and health solutions that genuinely improve lives.”

More at Tech Funding News

Growth, strategic and corporate

Series A


Get in touch

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Send tips, releases and feedback to news@conviction.news, pitch contributor views to opinion@conviction.news, and ping editor@conviction.news with AOB.

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