Dao Foods Welcomes Rich Products Ventures as Investor in China-focused Alternative Protein Startups
Fund joins other investors including Matrix Partners China, New Crop Capital, IronGrey, Rock Investments and more.
Shanghai, China -- September 28, 2021 -- Dao Foods International announced today that Rich Products Ventures has joined as an investor in Dao Foods Venture Fund 1, supporting its Incubator with a mandate to invest in up to 30 alternative protein startups focused on the China market.
Rich Products Ventures (RPV) is the corporate venture capital arm of Rich Products, a global food company with annual sales of over $4B and 76+ years of operating experience, including close to 30 years in China. RPV invests in venture and growth stage companies that are shaping the future of food through technology and innovation. Global investments in the alternative protein space include Future Meat, Clara Foods, MycoTechnology and BlueNalu.
“We are extremely excited to have Rich Products join Dao Foods as a strategic investor and believe their deep experience and networks in food service, grocery, bakery and retail in both China and beyond will provide a great deal of insight and competitive advantage for our portfolio of startups going forward,” said Tao Zhang, co-founder of Dao Foods International.
Dao Foods Venture Fund 1 was established to support and invest in 30 China-focused alternative protein product ventures. Aside from early-stage seed capital, Dao Foods also plans to provide incubator companies with in-kind support and mentoring, especially in terms of how to make plant-based products more appealing to mainstream meat eaters. Dao Foods so far has invested in more than 10 alternative protein ventures hailing from different parts of China, including Shanghai, Beijing, Shenzhen, Shandong, and Hong Kong. Dao Foods has also invested in a US-based cell-based lobster meat venture called Cultured Decadence as its first cross-border venture.
“China is one of the most important growth markets for Rich Products and we believe that alternative protein innovation will be a key component of that growth over the coming years. The sustainability benefits that novel alternative protein products offer is consistent with our company values and is in fact part of our company history,” said Dinsh Guzdar, Director, Rich Products Ventures. The Company’s first product was a plant based dairy alternative that it started selling in 1945. “We have been impressed with Dao Foods’ ability to source and engage passionate and talented Chinese entrepreneurs and are excited to work with them to build the market for alternative proteins in China.”
Other prominent Dao Foods investors including Matrix Partners China, New Crop Capital, IronGrey, Rock Investments, and more.
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关于道夫子食品国际公司 About Dao Foods International
道夫子食品国际公司 (Dao Foods International) 是一家专注于新蛋白食品创新
支持优秀的创业者,瞄准 4 亿中国年轻人市场,开发和推广新颖和美味的新蛋白食
子 2018 年被行业知名杂志 The Grocer 选为 15 家未来改变全球肉类行业的创新公司
之一,并于 2019 年荣获卢森堡国际气候金融加速器的特别奖。如果您是创业者, 专
Dao Foods International, Inc. is an impact investment firm that aims to help entrepreneurs develop exciting alternative protein products in China to reduce the consumer demand for animal agriculture. Dao Foods believes that supporting talented entrepreneurs targeting the 400 million millennials in China with new, exciting, and delicious alternative protein products is a huge business opportunity with massive social and environmental impact. If you are a China-based and/or China-focused alternative protein food entrepreneur, please get in touch with us: email@example.com or China@daofoods.cn.
About Rich Products Ventures: Rich Products Ventures is the corporate venture arm of Rich Products Corporation, one of the 50 largest food and beverage companies and leading frozen food manufacturers in the United States. As a private, family-owned company that pioneered the non-dairy industry, it understands the long-term perspective that innovation in the food industry requires. RPV manages a $100m fund that invests in and supports companies across the FoodTech ecosystem. Its focus is Nutrition and Sustainability including alternative proteins and green packaging, the Dynamic Supply Chain and the Next Generation of Retail and Food Service.