Seafood giant Thai Union Group has announced it is investing in a number of food-tech businesses through its venture fund.

The recently-created Thai Union Corporate Venture Fund, which focuses on alternative proteins, functional nutrition and “value-chain technology” start-ups, will invest in Alchemy Foodtech, Manna Foods Co. and HydroNeo, all recent graduates of the food-tech incubator and accelerator programme SPACE-F, in which the Thai business is a partner.

Thai Union will also invest in VisVires New Protein, a Singapore-based food-tech investment fund. Investment amounts have not been disclosed.

Alchemy Foodtech is a diabetes food-tech innovation firm in Singapore, while Manna Foods is an “insect tech and e-commerce company” in the US. HydroNeo is an aquaculture technology business with operations in Germany and Thailand. 

All three companies were part of the first cohort of SPACE-F, the first food-tech incubator and accelerator programme in Thailand, which Thai Union is a founding partner of, alongside Mahidol University and Thailand’s National Innovation Agency (NIA).

Thiraphong Chansiri, president and CEO of Thai Union, said: “We are committed to open innovation as an important part in Thai Union’s innovation strategy, complementing our in-house innovation efforts. As such, we are working with external parties including universities, research institutions and the broader food-tech ecosystem to support and fast-track innovative ideas and technologies. 

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData

“Our venture-capital investments in the food-tech space are an important part of this. Of course, our investment in these companies goes beyond a financial commitment as we also intend to provide guidance and support and will look to pursue collaborations wherever possible.

“In addition, investing into VisVires also opens a wider, global spectrum for opportunities and we’re looking forward to developing a range of exciting opportunities with them.” 

Thai Union’s venture fund was launched in 2019 with an initial commitment of US$30m.

Read just-food’s analysis – Big Food’s stake in the future – in-house venture-capital funds