Consumer apprehension of safety and hygiene of animal meat has shifted consumer focus to plant-based protein
Singapore-based VC firm, Big Idea Ventures is buoyant about the plant-based foods market in Asia, more so due to consumer apprehension of safety and hygiene of animal meat in the wake of the Covid-19 pandemic.
The firm has an alternative protein fund which has witnessed multiple investments from major players such as Bühler, a global food tech company, apart from companies including Tyson and Temasek.
As per Andrew Ive, Founder of Big Idea Ventures and the New Protein Fund, the plant-based food category is very active with new product launches across meat, seafood and dairy. He added that the shift to plant-based protein is crucial not just for the environment, animal and personal health, but can be a significant factor in creation of wealth.
The New Protein Fund is a US$50 million accelerator focused on plant-based foods and cell-based meats. Big Idea Ventures’ second fund, Generation Food, will be a US$250 million fund.
The fund headed by Tom Mastrobuoni, the former founding partner of Tyson Ventures, will invest in Series A and later stage companies operating in one of six areas, including alternative protein platforms, ingredient options, food safety innovation, transparency solutions, logistics enhancements and manufacturing technologies.