By Gerelyn Terzo, Global AgInvesting Media
Proterra Investment Partners Asia has made its inaugural direct investment in Laos, betting on the Southeast Asian country’s untapped potential as an emerging hub for premium agricultural production. Through its Proterra Asia Food Fund 3—which reportedly closed in 2022 with more than $200 million in assets under management—the firm is backing a greenfield blueberry cultivation project in the southern Paksong district, further expanding its footprint across Southeast Asia’s high-value food sector.
The blueberry venture is a joint effort involving Mekong Blue Singapore and its Laos subsidiary, Mekong Blue Laos, in partnership with a team of experienced berry professionals from China. Together, they aim to establish a top-tier, export-driven operation designed to meet Asia’s rising demand for fresh, health-conscious produce. Fund 3’s strategy centers on categories where consumer interest is accelerating—berries being a prime example.
That focus is well-supported by market trends. Asia’s appetite for fresh, healthy produce has accelerated in recent years, driven by rising middle-class incomes, urbanization and a growing focus on health and wellness. According to industry research from sources including Euromonitor International and the USDA, Asia’s fresh fruit market is projected to grow by leaps and bounds in the coming years, with berries among the fastest-rising segments. Proterra Asia views investments like its Laos venture as a targeted response to this demand surge—aligning production growth with evolving consumer preferences across the region.
Proterra Asia Managing Partner Tai Lin stated, “This is our first investment in Laos and a natural extension of our strategy to build high-quality, export-focused food businesses across Asia. The opportunity in fresh berries is growing, and Laos offers the right mix of climate, location and potential to support long-term development.”
Lin further described the venture as more than just a fresh berry investment, highlighting its role in building both a new business and new opportunities for local farmers and communities. While acknowledging that it’s still early days, Lin emphasized Proterra Asia’s confidence in laying strong foundations for a lasting and impactful operation in Laos.
Beyond commercial production, the project is designed to drive rural development in a country long reliant on lower-value crops. By introducing high-value horticulture, Proterra Asia and Mekong Blue aim to create jobs, enhance agricultural skills and contribute to Laos’s broader economic diversification —delivered under MBS’s mission of “Better Berries, Better Lives, Better Laos.”
Proterra Asia will also draw on its regional distribution network and corporate governance expertise to help scale the business sustainably, with long-term growth targets extending through the next decade. The Laos deal follows the firm’s recent investment in Thailand’s Lanna Agro Industry, a leading frozen edamame exporter, reinforcing Proterra’s commitment to building a diversified, export-oriented food and agriculture portfolio across Southeast Asia.
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