In This Issue:
- Food Venture Financing Trends
- CPG Corporate Venture and Private Equity Funds
Food Venture Financing Trends
- Formo, a fermentation startup that develops alternative cheeses, announced that it raised $61 million in its Series B round.
- Novameat, a plant-based meat startup, announced that it raised €17.4 million in its Series A round.
- General Mills announced that has entered into a deal with French dairy companies Lactalis and Sodiaal to sell its North American yogurt business for $2.1 billion.
- ReScale, a startup that is developing an online platform for CPG companies to find co-manufacturers, announced that it raised $2.3 million in funding.
CPG Corporate Venture and Private Equity Fund
This week's featured corporate venture and private equity fund is Thai Union Group.
- Founded in 1977, Thai Union has dedicated itself to mastering the seafood value chain, from the initial sourcing of raw seafood materials to the processing and manufacturing of finished products. It has 14 production facilities that are spread across 11 countries in North America, Europe, Africa, and Asia.
- In 2016, Thai Union launched its SeaChange 2030 global sustainability strategy. This sustainability initiative focuses on enhancing seafood traceability and reducing greenhouse gas emissions, advancing ethical labeling standards, and supporting communities impacted by natural disasters and the pandemic.
- Some of its portfolio companies include the following:
- Genova
- Chicken of the Sea
- John West
- Sealect
- Fisho
[View source.]
