May 31, 2023

By Lynda Kiernan-Stone, Global AgInvesting Media

With offices in New York, Singapore, and Paris, Big Idea Ventures (BIV) is looking to invest in the best emerging food tech and agritech companies in the world. In doing so, the group intends to contribute to the development of growing alternative protein and ingredients startups while becoming a leader in food innovation and alternative protein technologies. 

“Our mission is to solve the world’s biggest challenges by supporting the world’s best entrepreneurs, scientists and engineers,” said Andrew D. Ive, founder BIV.

Sustainability concerns, coupled with health, environmental, and ethical considerations, have driven consumers to increasingly explore alternative protein options. Plant-based and alternative proteins offer a balanced approach to meeting the global demand for protein while reducing the impacts of traditional animal farming. With continued innovation, investment, and support, alternative proteins have the potential to reshape the future of food and contribute to a more sustainable and inclusive food system.

By 2050, the dietary needs of more than 10 billion people will have to be met, and met in ways that are sustainable, reduce climate change, and mitigate environmental challenges – all goals that alternative proteins are aiming to meet.

These factors are all coalescing to drive the alternative proteins market to a predicted value of $17.9 billion by 2025, according to FAIRR, that went on to explain that the sector’s long-term potential dwarfs this target, as expectations are that sales will jump by as much as $1.1 trillion by 2040, with alternatives accounting for 60 percent of the overall meat market.

With a strong network of strategic partners in place, including Temasek Holdings, Tyson Ventures, AAK, Avril, Bühler, and Givaudan, BIV announced it has successfully made a first close for its New Protein Fund II (NPF II) on its way to meeting its funding target of $75 million within the next 12 months. 

AAK, a multi-oil ingredient supplier specialized in plant-based vegetable oils and fats, and food processing solution leader Bühler have been the drivers behind this close – both returning after participating in BIV’s first fund. 

BIV was the first global fund dedicated to the development and expansion of alternative protein companies, becoming the most active investor in the segment within only a matter of a couple of years. 

It was May 2021 when BIV announced a final close on New Protein Fund I with Japanese confectionery brand Meiji Holdings joining as its latest investor. Now, NPF II will continue to invest on a global scale, consolidating its position as BIV expands its investment portfolio to include companies focused on alternative ingredients and impactful food. 

“With NPF I, we found and worked with companies we believe will become leaders in the alternative protein category,” said Ive. “NPF II enables us to bring even more innovators with fantastic innovations and teams in our portfolio.”

With this close, BIV now has more than $100 million in assets under management, and NPF II will continue to back early-stage startups around the world both through its accelerator program and via direct investment. 

The firm’s accelerator is an intensive five-month program run out if its Paris, Singapore, and New York offices, assisting companies in meeting and overcoming the challenges that come with effectively scaling a startup by providing help from internal and external experts, corporate investors, and a broad network of mentors. 

“It has truly been a pleasure to provide support to our diverse range of portfolio companies,” said Ive.  Through NPF II, we envision working with the leading innovators with ground breaking technologies across alternative meat, seafood, dairy and ingredients.”

~ Lynda Kiernan-Stone is editor in chief with GAI Media, and is managing editor and daily contributor for Global AgInvesting’s AgInvesting Weekly News and  Agtech Intel News, as well as HighQuest Group’s Unconventional Ag. She can be reached at lkiernan-stone@globalaginvesting.com.

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