MCLEAN, VA — Mars Inc. and Digitalis Ventures have launched a $300 million venture capital fund to support science, technology and design to improve the lives of pets, pet owners and veterinarians.
It’s called Companion Fund II and follows a $100 million fund launched in 2018, according to a press release.
Loïc Moutault, global president of Mars Petcare, said: “Our goal is to support pet care founders accelerating the trajectory of startups, helping to fuel the growth of pet care businesses and to contribute to the future of the pet care industry. We’re excited to support entrepreneurs and innovators in creating new products and services that deliver on our purpose: ‘A Better World for Pets.'”
Companion Fund II will provide venture capital to a range of enterprises developing veterinary diagnostics, veterinary medicine, information technologies, online platforms and more.
More from the release:
The new fund will be independently managed by Digitalis Ventures focusing on both early and growth-stage startups with an ambition to support portfolio companies with differentiated expertise throughout their development while allowing them to maintain their independence, speed, and flexibility.
“With our second Companion Fund, we are eager to support the next wave of great ideas for advancing animal health at scale,” said Geoffrey W. Smith, Founder and Managing Partner of Digitalis Ventures. “Our partnership with Mars makes these advances possible.”
Since its inception, Companion Fund has quickly become one of the world’s leading investment funds for early-stage pet care start-ups, with investments in innovative companies such as Smalls, MySimplePetLab and Scratch. Companion Fund II will support even more startups through their growth phases – confirming Mars’ ongoing commitment to support pet care innovators and its long-term partnership with Digitalis Ventures.
Plans are for the Fund to invest in animal health companies based primarily in the United States and Europe. Digitalis Ventures is encouraging founders of early-stage animal health firms seeking venture capital to visit digitalisventures.com/animal-health for more information.
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