Interview
AIF, the investment fund of MRBB (the holding company of the Boerenbond Group), has been committed for 18 years to help agriculture and horticulture move forward. CEO Patrik Haesen wants these efforts to make a difference in the field and in the barn in the short term as well. “We are broadening our portfolio but remain true to who we are.”
Nele Kempeneers, Pennenvrucht
In 2024, investments by Agri Investment Fund (AIF) totaled €11.9 million. The fund’s resources come from MRBB – the Holding Company for Boerenbond (‘Farmers Union’) –which AIF has used to build a portfolio of ten start-ups and innovative companies. Patrik Haesen serves as CEO of the investment company, with the strategy determined by the board of directors. Sonja De Becker is chairwoman, and the specific investment files are closely monitored by a committee led by Marleen Vaesen, with representation from Arvesta and Boerenbond. Patrik is supported in the day-to-day operations by investment manager Barbara Berckmans. Together, they form a small but strong team.
Where do the roots of AIF lie?
Patrik Haesen: “Agri Investment Fund was established in 2007 within the framework of MRBB. The investment fund fully aligns with MRBB’s mission to positively contribute to agriculture and horticulture.”
The investment strategy you apply today is no longer the same as in the early years.
Patrik Haesen: “That’s right. In the past, we occasionally received requests from the sector to participate in mature, large companies, for example in the processing industry. Sometimes the choice was made to acquire a minority stake. These were companies in the slaughterhouse, sugar beet, vegetable, and potato sectors. The intention was good—to improve the position of farmers and horticulturists. Unfortunately, it’s an illusion to think that a minority stake can ensure that farmers get a better price. Moreover, you can never control the market. Price is simply the result of the game of supply and demand. We were unable to meet expectations around our investments, which led to disappointment. That’s why we shifted our focus to start-ups: young companies with a strong plan that likely wouldn’t be able to launch without our support. In this way, we aim to support the development of innovations.”
Wie?
Patrik Haesen graduated in 2000 as a business engineer from KU Leuven. After a brief period as an external auditor, he joined MRBB as an internal auditor before gradually transitioning into the world of investments. In 2022, Patrik was appointed CEO of the Agri Investment Fund (AIF), MRBB’s specialized investment vehicle.
Patrik Haesen: “It is an illusion to think that a minority stake can ensure farmers receive a better price.”
How is a start-up selected by AIF?
Patrik Haesen: “The basic requirement is that the company is working on a solution for challenges faced by Flemish farmers and horticulturists. This could be in crop protection, but also in areas like animal health and other relevant themes. Of course, we depend on companies approaching us. It’s not like we go out and pitch an idea ourselves. Very often, the start-ups we invest in originate from research institutions such as KU Leuven or VIB.”
Barbara Berckmans: “The projects that come our way are also screened for how innovative they are. For example, an animal disease for which there is still insufficient medication, or a crop that is better adapted to our climate. What’s important is that it’s relevant to our region, because a crop protection product that doesn’t fit within the European regulatory framework, does not align with our mission.”
Have the companies in which AIF invests already brought tangible solutions to market?
Patrik Haesen: “We invest in many promising companies. Biotalys is working on biological crop protection products, Virovet is developing new vaccines for farm animals, Protealis cultivates new protein crops, Aphea.Bio focuses on biostimulants… These are all projects we believe in and that will take further steps forward in the coming years. But these kinds of innovations take a lot of time, which means farmers and horticulturists can’t yet use them today. That’s why we’re now broadening our portfolio. We want not only more diversity in the solutions being developed, but also in the timeline when they will reach the market.”
Barbara Berckmans: “Biotechnology remains an important sector, but we also pay attention to themes such as labour, soil, energy, image, eco-efficiency, climate… These are topics that lead us to new markets and where results are sometimes more quickly tangible.”
Is your recent investment in Rootwave an example of that?
Patrik Haesen: “Absolutely! Rootwave is one of our new investments. It’s a British company that develops non-chemical solutions for weed control, using high-frequency electric shocks that destroy the plant down to the root. It’s a sustainable method that could become a game-changer for agriculture in the very short term.”
Wie?
After earning her PhD in Biotechnology at the Flemish Institute for Biotechnology (VIB-PSB-UGent) in 2011, Barbara Berckmans continued her research as a postdoctoral researcher at Heinrich Heine University Düsseldorf. She started at KU Leuven in 2018 and joined AIF as an investment manager four years ago.Barbara Berckmans: “We pick up signals from the sector and match them with the companies that approach us.”
Does that mean you no longer focus on early-stage investments and that more mature companies now also have a chance with AIF?
Patrik Haesen: “We haven’t abandoned our focus on start-ups, but we do keep the option open to jump on board at a later stage. The goal remains to make a real difference in the sector and to leave our mark on a company. That’s something you can do more effectively with smaller, younger companies. Thanks to our support, these start-ups not only gain the resources to turn their ideas into reality, but also get insight into what’s happening in agriculture and horticulture. AIF is part of the Boerenbond group, a house with many rooms. We can draw on the expertise of the advocacy organisation, of Arvesta… and we can guide companies in a certain direction. For example, many start-ups are fixated on high-value crops like strawberries or tomatoes. That’s great, but we can point out that a particular technology could also be very useful in, for example, seed potatoes.”
Barbara Berckmans: “To be able to play that role effectively, we continuously inform ourselves. Communication is very important for that. We pick up signals from the sector and match them with the companies that approach us. We are also genuinely open to farmers who directly share information with us about which innovations could improve their work. In this way, we truly aim to make a difference with AIF—today and tomorrow.”
“Our anchoring within the Boerenbond group allows us to tap into a large network and provide professional advice across the various agricultural sectors.”
Source: Boer&Tuinder
Pictures: Boerenbond/Marco Mertens
