KARLSHAMN, SWEDEN – Ingredient supplier AAK Group is investing in Big Idea Ventures’ New Protein Fund I, a fund dedicated to early-stage businesses in plant- and cell-based meat, seafood, dairy products and ingredient applications. AAK did not disclose how much it is investing.
“By combining capital and partnership, New Protein Fund I is targeting to build and accelerate future global companies in the plant-based, cell-based, and alternative protein ecosystem,” said Johan Westman, president and chief executive officer of AAK Group. “With this investment, AAK gets closer to prospering early-stage businesses that are active within one of our key growth segments. We will also be able to collaborate with other fund partners and investors, including some of the most important industry front-runners in the world.”
Big Idea Ventures invests in entrepreneurs seeking to address such significant problems as hunger, climate change and pollution. With offices in New York and Singapore, the company currently has two investment funds and two accelerator programs. Big Idea’s New Protein Fund totals $50 million and its Generation Food Fund is raising $250 million and will target technologies and companies that will transform the global food system by reducing plastics, water, waste and carbon emissions throughout the supply chain.
“We’re pleased AAK has joined our world-class corporate partners as an investor in the New Protein Fund as it will allow us to strengthen our reach in both Europe and Asia,” said Andrew D. Ive, founder and general managing partner of Big Idea Ventures. “AAK's partnership will provide expertise for ingredients that are vitally important to the production of plant- and cell-based foods being developed by the world's most promising entrepreneurs.”