About This Fund
Cibus Fund II (CF II) is the second mid-market private equity growth fund raised by Cibus Capital LLP, a London-based investment manager founded in 2016 by Rob Appleby and specializing in sustainable food and agriculture. The fund achieved final close on March 4, 2024, raising over $510 million in commitments — part of a combined $645 million raised simultaneously with Cibus Enterprise Fund II, a parallel late-stage vehicle targeting larger and more mature agrifood businesses. Cibus Capital has raised over $1 billion across its strategies to date, and the CF II raise attracted strong participation from institutional investors including the Los Angeles County Employees Retirement Association (LACERA) and Australia's Retail Employees Superannuation Trust (Rest), alongside a range of returning institutional supporters from prior Cibus funds.
Cibus Fund II invests in mid-sized companies globally that are leading the future of food through innovation, resource efficiency, sustainability, and disruption of conventional agricultural value chains. Target subsectors include precision agriculture robotics, precision chemistry for crop protection, natural capital and biodiversity, food production and processing technologies, carbon reduction technologies, and supply chain innovations. Cibus's investment thesis is grounded in the structural imperative to feed a global population of ten billion people by 2050 with significantly less land, water, and synthetic chemical input — a transition that requires capital-intensive innovation across the entire food system. The fund targets companies at the growth equity stage with demonstrated commercial traction and the potential to reach global scale through strategic investment and operational support.
Cibus Capital's global sourcing network spans Europe, North America, and major agricultural markets worldwide, providing the firm with access to a deep pipeline of agrifood innovators across geographies. As one of the few dedicated institutional investors in the sustainable food transition, Cibus occupies a differentiated position in a market segment with growing LP demand but limited specialist capital supply. Cibus Fund II is supported by Cibus Enterprise Fund II, a complementary late-stage vehicle that closed with over $135 million and targets companies at a more advanced stage of development. Together, the two funds provide Cibus with a comprehensive capital deployment platform spanning the growth equity and pre-IPO stages of the food and agriculture innovation lifecycle.