Food technology investors Big Idea Ventures (BIV) has announced the first close for its new protein fund, which aims to raise $75 million over the next 12 months to support new food technology and protein innovators. Bring this new rise of total wealth under Management per Over $100 million.
Investors in the initial funding round include previous New Protein Fund I backers AAK (a Dutch plant-based oil ingredients company) and Bühler, a solution partner for the food processing industry.
Big Idea Ventures claims to be the first global fund dedicated to the development and expansion of alt proteins, as well as the most active investor in the food technology segment. Its NPF I portfolio includes French startup Gourmey, which raised €48 million in Series A funding in 2022, and US’ Black Sheep Foods, which raised $12.3 million in Series A funding last October.
Andrew D. Ive, founder of BIV, commented: “With NPF I, we have found and worked with companies that we believe will be leaders in the alternative protein category. NPF II will bring even more innovators with fantastic innovations and teams to our portfolio. enables. Our mission is to solve the world’s biggest challenges by supporting the world’s best entrepreneurs, scientists and engineers.”
Through NPF II, Big Idea Ventures will expand its portfolio to include more companies that focus on alternative ingredients and impact foods. This too will continue Supporting early-stage startups globally in the plant-based, cultivation, and fermentation spaces
The company will invest in startups through its accelerator program and direct investments. The BIV Accelerator provides an extensive network of internal and external experts, corporate investors and mentors to help startups scale effectively.
“It has been a real pleasure to support our diverse range of portfolio companies. Through NPF II, we envision working with leading innovators across alternative meat, seafood, dairy and ingredients,” said Andrew D. Ive