Tyson to increase investment in “alternative proteins” with new $150m fund
05/12/2016
Tyson will make available $150 million to the fund, which has been named Tyson New Ventures. The fund will concentrate on three areas, including the commercialisation of “alternative proteins”. It will invest in “entrepreneurial food businesses” and try to boost their development. The first investment involves its previously-announced five percent ownership stake in plant-based protein producer Beyond Meat.
“We intend to collaborate with promising food entrepreneurs who are pioneering new products and technology that are making meaningful changes and improvement to food systems,” said Monica McGurk, Tyson’s executive vice-president of strategy and new ventures.
Tyson New Ventures will be based in Chicago and will be led by Mary Kay James, who has been named vice-president and general manager. She previously served as managing director of DuPont Ventures, was chairperson of the National Venture Capital Association, Corporate Venture Group, and an advisory board member to Global Corporate Venturing.
Ms James and her team will seek start-ups that “complement Tyson Foods’ existing business and product development efforts”, focusing on alternative proteins, elimination of food waste and leveraging innovative trends in technology.
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