NEW YORK, Oct. 27, 2021 (GLOBE NEWSWIRE) -- Avril, the French leader in vegetable oils and proteins, has invested in Big Idea Ventures’ New Protein Fund I, a venture fund with accelerator programs focused on early stage investments in the alternative protein sector.
Big Idea Ventures launched the fund in 2019, raising $50 million to invest in seed and early-stage ventures within plant- and cell-based meat, seafood, and dairy products, as well as ingredients and technologies that facilitate the growth of these categories. BIV runs two accelerator programs per year in each of the following locations: New York, Singapore, and most recently Paris.
As part of an effort to increase its European presence, BIV opened an office in France and launched a Paris-based program. Avril joins several other large European food corporations as a limited partner, including Bühler, Givaudan, and Bel Group.
Andrew D. Ive, Founder and Managing General Partner of BIV, said: “Having Avril join the New Protein Fund I as a limited partner gives us access to world-class experts in the oilseed and protein sectors. We have purposefully chosen our investors to ensure we can offer our portfolio companies an unparalleled ecosystem of forward-thinking partners. We are glad to have Avril on board and are excited about what we can do together to bring the future of alternative proteins to the world.”
Partnering with BIV will contribute to Avril’s ambition to become the leader in plant-based transformation solutions serving the agricultural, food, and environmental transitions. The Group has recently announced its willingness to prioritize four markets with high growth potential, including the plant-based protein market, to answer to the new expectations of consumers for plant-based and natural food, and to contribute to France’s desire to move towards protein sovereignty. For example, Avril has created a JV with Dutch Royal DSM to produce rapeseed proteins for the global food market.
“We have to keep on making audacious bets and investments to pursue our mission to find new, innovative, and profitable outlets for the French oilseed and protein crop sector. Joining BIV’s New Protein Fund I will allow us to contribute to the development of the most promising young companies in the alternative protein market, as well as benefit from a worldwide ecosystem of limited partners and startups to support our ambitions on plant-based proteins,” explains Paul-Joël Derian, VP Innovation and Sustainable Development at Avril.
Please visit https://bigideaventures.com/new-protein-fund/ for more information on BIV's New Protein Fund I.
