Group of Investors Enhance China Partnership to Seek New Investment Opportunities in Alternative Protein Ventures
Dao Foods International Has Been Appointed Exclusive Financial Advisor for New Crop Capital to Invest in China-focused Alternative Protein Ventures
BEIJING, Feb. 18, 2019 /PRNewswire-PRWeb/ -- Dao Foods International, Inc., has recently been appointed by New Crop Capital as its exclusive financial advisor for sourcing and investing in China-focused plant-based and clean meat ventures.
Alternative proteins in the United States are the fastest-growing segment of the food industry, rising 20 percent from 2017 to 2018 (Bloomberg Businessweek). Recent investment activity such as Unilever's acquisition of The Vegetarian Butcher and Beyond Meat's upcoming $100M IPO listing indicate broad confidence in the segment from mainstream food companies and investors in the U.S. and Europe.
"As an early investor in alternative proteins in the U.S. and Europe, we at New Crop Capital see great growth potential in China in the next few years and have engaged Dao Foods to identify high potential opportunities that fit our investment thesis," said Kim Odhner, Senior Venture Partner for Asia and Europe at New Crop Capital. New Crop Capital has so far made investments in 33 of the most innovative companies in the alternative protein space worldwide.
Established in February, 2018, Dao Foods is a collaborative effort between Dao Ventures, Moonspire Social Ventures, and New Crop Capital. This cross-border impact venture aims to transform the global meat, egg, and dairy markets in order to curb the environmental impact of meat production, fight the drug resistance that comes with the widespread use of antibiotics on modern farms in China and around the world, and thus address the health and safety concerns of meat consumption in China by introducing, promoting and investing in innovative and climate-friendly protein products, primarily plant-based and clean meat (PBCM), in the China market.
This agreement helps take the existing collaboration between Dao Foods and New Crop Capital to the next level. Under the agreement, Dao Foods will help New Crop Capital identify China ventures, plan the investment strategy, conduct due diligence and negotiations, among other things.
"We believe that the growth we have witnessed in plant-based meat sector in the U.S. over the last five years will soon be repeated in China and are excited to work with New Crop Capital to accelerate investment in China-focused entrepreneurs who aim to increase the availability of great tasting plant-based meat and alternative proteins in China," said Albert Tseng, co-founder of Dao Foods.
The founding members of Dao Foods will be leveraging their existing relationships in both North America and China, including the nonprofit Good Food Institute, which co-initiated the formation of this new endeavor, as well as Dao Ventures' local infrastructure to deliver solutions for China's skyrocketing meat consumption.
In 2018, Dao Foods co-organized the first fashion and fitness-themed plant-based food festival in Beijing where approximately 10,000 people visited. It also organized the Next-Generation Good Food Forum in Beijing in collaboration with its strategic partner Dongsheng Science and Technology Park, where the Dongsheng-Dao Foods International Next Generation Food Accelerator was launched to focus on accelerating and investing in China-focused PBCM ventures.
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Dao Foods International
Dao Foods International, Inc. is a cross-border impact venture established to promote and invest in plant-based and clean meat in China. Its aim is to mainstream alternative products into the China market to reduce the consumer demand for animal products from the traditional livestock industry, which has had growing negative environmental, climate, food safety and health impact. More information is at: http://www.daofoods.com.
New Crop Capital
New Crop Capital (NCC) is a U.S.-based specialized venture capital fund that invests in talented, focused entrepreneurs whose products or services replace foods derived from conventional animal agriculture. NCC provides early-stage investments to companies that develop clean meat and plant-based meat, dairy, and egg products, as well as service companies that facilitate the promotion and sale of such products. NCC primarily provides Angel, Seed, and Series A funding, with investments ranging from $50,000 to $1,000,000. More information is at: http://www.newcropcapital.com.
The Good Food Institute
The Good Food Institute (GFI) is a U.S.-based 501(c)(3) nonprofit that has a team of scientists, entrepreneurs, lawyers, and lobbyists, all of whom are laser focused on using markets and food technology to transform our food system away from factory farmed animal products and toward clean meat and plant-based alternatives. More information is at: http://www.gfi.org.
SOURCE Dao Foods International, Inc.
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