The private venture fund New Crop Capital (NCC) has recently announced a collaboration with Dao Foods International Inc. of China. Dao Foods will act as financial advisor to NCC for acquisition and investment in the Chinese market. New Crop Capital invests exclusively in companies whose products or services replace conventional animal-based foods.
“As an early investor in alternative proteins in the US and Europe, we at New Crop Capital see great growth potential in China over the next few years and have asked Dao Foods to identify potential that fits our investment philosophy,” said Kim Odhner , Senior Venture Partner for Asia and Europe at New Crop Capital.
This new collaboration is designed to take the existing collaboration between Dao Foods and New Crop Capital to the next level. Under the agreement, Dao Foods will assist NCC in identifying Chinese companies, planning new investment strategies and conducting negotiations. NCC will focus on plant-based and clean meat producers in China.
“We believe that the growth we have seen in the US plant-based meat sector over the past five years will soon be repeated in China. We are therefore pleased to be working with New Crop Capital to accelerate investment in Chinese businesses. We want to drive the availability of alternative plant-based proteins in China,” said Albert Tseng, co-founder of Dao Foods.