Singapore state investor Temasek is seeking opportunities to ramp up the growth of sustainable foods and alternative proteins in Asia, as the appetite of people in the region and across the globe for environmentally friendly products continues to grow.
Over the next three years, Temasek and Singapore’s Agency for Science, Technology, and Research, plan to pour well over US$30 million into the Asia Sustainable Foods Platform.
The mission of this new entity is to speed up the commercialization of food-tech firms within the region by offering them the required research and development advisory, financial backing, and operational support.
It is hoped that this initiative would kickstart a domino-effect investment trend in the agriculture technology (agritech) industry, Anuj Maheshwari, managing director of agribusiness in Temasek, said in a discussion with CNBC.
“Capital is aflush. There are impact investors, there are private equity funds and venture capitalists,” Maheshwari stated Tuesday, referring to investment in the industry.
Temasek is one of the largest investors globally.
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