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August 12, 2020

VC firm S2G Ventures sets up seafood fund

S2G Ventures, the US venture-capital firm that was an early investor in Beyond Meat, has launched a fund targeting a specific part of the food industry.

By Dean Best

S2G Ventures, the US venture-capital firm that was an early investor in Beyond Meat, has launched a fund for investments in the seafood industry.

Free Report
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What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.

The Chicago-based investor said it had a pot worth US$100m to back companies in areas including “seafood and alternative protein sources”, as well as “aquaculture and supply chain innovation”.

In announcing the new fund, S2G Ventures pointed to how “the seafood industry is a critical protein source for over three billion people” and, citing UN data, raised the impact climate change had had on the world’s oceans.

“According to the United Nations Intergovernmental Panel on Climate Change, since 1970 the oceans have absorbed over 90 percent of excess heat trapped in Earth’s climate system. This warming is causing significant changes in currents and sea levels, which affect the health of marine species, nearshore and deep ocean ecosystems, as well as weather systems across the globe,” S2G Ventures said.

“Entrepreneurs are working on significant advances in technology and science that will further enhance our understanding of species and habitats, and ultimately create more sustainable fishing and ecosystems. S2G launched the new oceans and seafood strategy to support these entrepreneurs in successfully developing scalable solutions to the challenges that threaten the health of our oceans and ultimately people and our planet.”

S2G Ventures, which has made investments in companies including mushroom-based ingredients supplier MycoTechnology and cell-based meat start-up Future Meat, has hired former Silver Bay Seafoods executive Larsen Mettler as one of two managing directors to lead the new fund. The VC firm appointed Kate Danaher, senior manager at US impact investor RSF Social Finance, as the second managing director.

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Free Report
img

What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.

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