Key Takeaways
- • Highland Europe closed a €1.1 billion ($1.2 billion) mega-fund for late-stage startup investing, marking a significant capital commitment despite broader venture slowdown headwinds.
- • Huel, a London-based plant-based meal replacement company, raised £20 million ($24–26 million) in growth equity funding led by Highland Europe, valuing the company at approximately $560 million to $5.6 billion depending on round timing.
- • Highland Europe's portfolio spans high-profile European late-stage startups including GetYourGuide, WeTransfer, Wolt, and Adjust, positioning the firm as a top-tier growth equity operator in the region.
- • Huel's co-founder Julian Hearn stated the company has been profitable since inception and projects to triple turnover in the current year, using fresh capital to accelerate geographic expansion and product portfolio development.
- • The investment reflects investor confidence in the plant-based and alternative protein sector, targeting sustainability and nutrition trends as global population pressures mount toward 9.7 billion by 2050.
Summary
Highland Europe has successfully closed a €1.1 billion ($1.2 billion) growth equity fund, reinforcing its position as a leading European investor in late-stage startups. The fundraising milestone was achieved despite a broader venture capital slowdown, with the fund targeting proven companies ready to scale globally. Highland Europe's portfolio includes market-leading names such as GetYourGuide, WeTransfer, Wolt, AMCS, Camunda, and ContentSquare, alongside food technology innovator Huel.
London-based Huel, a plant-based meal replacement brand, secured £20 million ($24–26 million) in growth equity funding as part of this capital deployment. The company was valued in the range of $560 million to $5.6 billion depending on the funding round assessed. According to Huel co-founder Julian Hearn, the company has maintained profitability since inception and is tracking toward tripling annual turnover. The fresh capital will fund geographic expansion, new product development, and efforts to establish Huel as a global category leader in complete nutrition.
Stan Laurent, Partner at Highland Europe, characterized Huel as a textbook example of next-generation e-commerce businesses, citing strong brand equity, innovative product development, and an effective direct-to-consumer model. The investment thesis reflects growing market demand for convenient, nutritionally complete meal solutions targeting time-constrained consumers. Huel's positioning as a sustainable food alternative aligns with broader demographic and environmental pressures, as the company positions itself to address global food supply challenges ahead of projected 9.7 billion population by 2050.
The transaction underscores continued institutional appetite for European growth-stage technology and consumer brands, particularly in categories addressing sustainability, convenience, and nutritional innovation. Highland Europe's €1.1 billion fund demonstrates that top-quartile managers continue to attract significant capital for proven portfolio companies and emerging leaders, even during periods of overall venture market contraction.
London-based Huel, a plant-based meal replacement brand, secured £20 million ($24–26 million) in growth equity funding as part of this capital deployment. The company was valued in the range of $560 million to $5.6 billion depending on the funding round assessed. According to Huel co-founder Julian Hearn, the company has maintained profitability since inception and is tracking toward tripling annual turnover. The fresh capital will fund geographic expansion, new product development, and efforts to establish Huel as a global category leader in complete nutrition.
Stan Laurent, Partner at Highland Europe, characterized Huel as a textbook example of next-generation e-commerce businesses, citing strong brand equity, innovative product development, and an effective direct-to-consumer model. The investment thesis reflects growing market demand for convenient, nutritionally complete meal solutions targeting time-constrained consumers. Huel's positioning as a sustainable food alternative aligns with broader demographic and environmental pressures, as the company positions itself to address global food supply challenges ahead of projected 9.7 billion population by 2050.
The transaction underscores continued institutional appetite for European growth-stage technology and consumer brands, particularly in categories addressing sustainability, convenience, and nutritional innovation. Highland Europe's €1.1 billion fund demonstrates that top-quartile managers continue to attract significant capital for proven portfolio companies and emerging leaders, even during periods of overall venture market contraction.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.