Tyson Foods launches $150m venture fund focused on 'companies developing breakthrough technologies and business models'

By Elaine Watson

06-Dec-2016 - Last updated on 06-Dec-2016 at 16:28 GMT

Tyson Foods recently took a 5% stake in plant-based protein company Beyond Meat, maker of the 'Beyond Burger'

Meat & poultry giant Tyson Foods - which recently took a 5% stake in plant-based 'meat' firm Beyond Meat - has launched a $150m venture capital fund focused on investing in "companies developing breakthrough technologies, business models and products to sustainably feed a growing world population."

Tyson New Ventures LLC will concentrate on three areas: commercializing alternative proteins; tackling food insecurity and food loss; and "tapping the internet of food to promote more precise and productive resource application, safety, and consumer empowerment in the food chain."

“We believe we can accelerate the growth of startups through our capabilities in such areas as food and culinary research and development, sourcing, insights, customer relationships and distribution," said Monica McGurk, executive vice president of strategy and new ventures and president of foodservice for Tyson Foods.

"By doing so, we hope to materially advance the state of the US and global food system.”

Tyson New Ventures will be based in Chicago and led by Mary Kay James, who has been named vice president and general manager. She previously served as managing director of DuPont Ventures, was chairperson of the National Venture Capital Association, Corporate Venture Group, and an advisory board member to Global Corporate Venturing.

For more information, click HERE.