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Earth First Food and Milltrust Partner to Launch $300 Million Smart Protein Fund

Published on
Jan 23, 2023
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Milltrust International Group and Earth First Food Ventures have officially announced the launch of their new £242 million ($300 million USD) Smart Protein Fund, aimed at investing in the future of food production.

Initial reports indicate the fund will be targeting cleaner alternatives to meat proteins - such as lab grown meat, precision fermentation, and cellular agriculture - in an effort to support the food tech industry's continuing mission of decarbonisation.

By investing in the sustainable food innovations emerging in this nascent industry – such as precision fermentation, cultivated meat, and plant-based proteins – the Smart Protein Fund aims to disrupt the status quo of the food industry, which currently accounts for 26 percent of global greenhouse gas emissions - more than all forms of transport combined.

“By 2035, alternative proteins will very likely capture 11 per cent of the global protein market, as consumers, companies, and investors push the values of ESG,” said Brian Ruszczyk, the Chief Executive Officer of Earth First Food Ventures. Mr. Ruszczyk continued, "We predict the market for alternatives to meat, especially chicken and seafood, will increase significantly, rising from two per cent of total protein consumption in 2020 to more than 20 per cent by 2035."

Boston Consulting Group (BCG) predicts that smart proteins are set to account for up to 22% of global protein consumption over the next 15 years, representing an immense $500 billion investment opportunity for early investors.

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