London-based Miltrust Ventures and Ireland’s Earth First Food Ventures is launching a new $300M (£242M) Smart Protein Fund tomorrow aimed at funding alternative protein companies to “disrupt and decarbonise” the food industry.
“We predict that the market for meat substitutes, especially chicken and seafood, will grow significantly“
New Smart Protein Fund aims to invest Climate capital towards scaling up Startups and companies developing innovative plant-based, fermentation, fungus-based, and Industrial farming replaces meat, fish, or dairy products.
26% of global greenhouse gas emissions
Speaking to City AM, Alexandre Callis, managing partner at MilTrust International, commented: “It’s often forgotten that the food industry represents 26% of global greenhouse gas emissions – more than all forms of transport combined.”
According to the Smart Protein Fund, the alternative protein market received more than $600M in investment last year. The Boston Consulting Group (BCG) predicts that smart proteins are set to account for up to 22% of global protein consumption over the next 15 years, representing a $500 billion investment opportunity for early stage investors.
11% of the global protein market
“By 2035, alternative proteins will likely capture 11% of the global protein market, as consumers, companies and investors push ESG values,” said Brian Rusczyk, CEO of Earth First Food Ventures. City AM
“We predict that the market for meat substitutes, especially chicken and seafood, will grow significantly, growing from 2% of total protein in 2020 to more than 20% by 2035,” Ruszczyk continued.
Milltrust Ventures, the venture investment arm of Milltrust International, is an investment firm with co-headquarters in London and Singapore. Earth First Food Ventures is a venture capital platform, ESG/Impact investing in innovative food technology, plant-based, fermented and farmed assets.