Big Idea Ventures Strengthens its European Fund Dedicated to Development of Alternative Proteins — Bel Group, International Food Industry Company, Makes Investment
NEW YORK, Feb. 10, 2021 (GLOBE NEWSWIRE) — Big Idea Ventures, the global leader in early stage investment in the food technology sector, with accelerators in New York and Singapore, is strengthening its presence in Europe. Its New Protein Fund, dedicated to seed and early stage investments in plant-based and cell-based food, ingredient and technology companies, targeted to raise $50 million since its launch in 2019. Today, it is receiving structuring support from key players in the European market, including the Bel Group and the Buhler Group, with a view to opening an accelerator in Paris in 2021.
The New Protein Fund will receive special support from the Bel Group as part of a partnership designed to strengthen the expertise and capacity for accelerating projects detected and integrated into the fund.
“This investment by Bel — based in Paris and a major global player in single serving healthy snacking — will provide the New Protein Fund with more than additional capital. It is a strategic partnership to continue investing in and supporting the world’s most promising entrepreneurs who are actively creating the future of alternative proteins in Europe and beyond,” said Andrew D. Ive, founder and general managing partner of Big Idea Ventures.
The demand for alternative proteins and particularly for plant-based products is growing. U.S. consumer spending on plant-based foods has increased by more than 28 percent, from $3.9 billion in 2017 to $5 billion in 2019, according to figures published by The Good Food Institute. Plant-based cheese grew by nearly 51 percent during the same period, and Europe is following suit with the growth of the number of flexitarian consumers. Read more in this PRESS RELEASE.