Now Reading: Hogan Lovells has advised British International Investment plc on the structuring and subscription of fixed-rate subordinated Notes issued by nextProtein
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Hogan Lovells has advised British International Investment plc on the structuring and subscription of fixed-rate subordinated Notes issued by nextProtein
Hogan Lovells has advised British International Investment plc on the structuring and subscription of fixed-rate subordinated Notes issued by nextProtein
Paris, 6 November 2025 – Global law firm Hogan Lovells has advised British International Investment plc (“BII”), the UK’s development finance institution and impact investor, on the structuring and subscription of fixed-rate subordinated Notes issued by nextProtein. The Notes were issued as part of a €18 million Series B funding round for nextProtein, a Paris-based agritech company specialising in sustainable, insect-derived protein.
The funding round was co-led by BII and SWEN Capital Partners’ Blue Ocean Fund, alongside existing investors Mirova and RAISE Impact, and included a €4 million senior loan provided by Société Générale, CIC Paris Innovation, and La Banque des Start-ups by LCL.
nextProtein uses black soldier fly larvae to convert low-grade agricultural by-products into high-value protein powder (nextMeal), oil (nextOil), and fertiliser (nextGrow), contributing to a more sustainable global food system. The proceeds aim to accelerate production, support nextProtein’s expansion and fund the construction of a second large-scale production facility in Tunisia, expected to produce up to 12,000 tons of insect-based ingredients annually for use in aquaculture, livestock, and pet-food sectors.
The Hogan Lovells deal team was led by partner Sharon Lewis and counsel Reza Mulligan with support from Ashali Herai and Rebecca Litvack.
“We are proud to have supported British International Investment on this impactful transaction with nextProtein. It was a pleasure to work alongside all parties to help advance sustainable agritech in Europe.” said Sharon Lewis, Lead Partner for Future of Finance and Co-Chair of the Digital Assets & Blockchain
