15 April, 2020
The deal was led by our Singapore team comprising Ken Cheung (Partner), Daniel Song (Counsel) and Nathanial Ng (Associate).
The funds were raised from a consortium of investors led by Openspace Ventures and SEEDS Capital, the investment arm of Enterprise Singapore — to help Nutrition Technologies build a factory in Southeast Asia that can produce more than 18,000 tonnes of insect-based feed ingredients and organic fertilisers every year as an alternative protein source with a lower environmental impact. This round of investment is the first since SEEDS Capital appointed seven co-investment partners in January 2019 to catalyse over S$90 million (US$65 million) worth of investments to develop Singapore-based agri-food tech start-ups.
This is one of the many deals to come in the fast growing agri-food tech sector, as Singapore develops itself as the hub for agri-food tech innovation to increase its local food production capabilities in the face of expanding populations across the region, climate change and uncertainties in the geopolitical landscape.
Click here for the full Asian-MENA Counsel Deals of the Year 2019 Report.
