London-based Milltrust Ventures has partnered with Ireland’s Earth First Food Ventures to launch the Smart Meat Fund which will invest in sustainable food innovations and help decarbonise the food industry.
The $300 million Smart Protein Fund will invest in companies focused on plant-based proteins, cultivated meat, and precision fermentation, as well as the infrastructure that will help scale the industry.
Brian Ruszczyk, CEO of Earth First Food Ventures, said: “By 2035, alternative proteins will very likely capture 11% of the global protein market through organic growth, as consumers, companies, and investors push the values of ESG and parity. And we predict the market for alternatives to meat, especially chicken and seafood, could increase significantly higher still, rising from 2% of total protein consumption in 2020 to more than 20% by 2035, with government support which we are beginning to see today.”
Alexander Kalis, managing partner at Milltrust International, added: “It’s often conveniently forgotten that the food industry represents 26% of global greenhouse gas (GHG) emissions, more than all forms of transport combined. At Milltrust, we are proud once again to be tackling another key GHG contributor by offering impactful investment-based solutions in the alternative protein sector whilst offering tremendous scope for returns for our investors.”
© FoodBev Media Ltd 2024
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