Priming for foodtech
Singapore looks to build up industry while eToro launches foodtech investment portfolio
This year has seen a transformation in attitudes and a shift in mindset as institutional and private investors increasingly embrace the model of doing well while doing good.
Environmental, social and governance (ESG) factors are becoming embedded in the decision-making practices of most banks, financial services firms, and sovereigns.
Sustainable and impact investment are being reinforced by demand at both ends of the financial spectrum from the bottom up and the top down.
Two sustainability themes which have interested investors including sovereign wealth funds and the world’s largest investment managers this year have been agritech and foodtech. The Asia-Pacific can expect to be both a prominent consumer market for the revolution in the food and agriculture sector as well as a major investor.
Anticipating significant developments in this sector, social trading and multi-asset brokerage company eToro has launched a new global investment portfolio focused on the foodtech sector.
Manufacturers and suppliers are investing billions in developing new foods and services as the world grapples with challenges such as climate change concerns and population growth.
The trend towards plant-based diets is also opening up investment opportunities as producers, retailers and technology firms move into the foodtech field.
The new foodtech investment portfolio by eToro is made up of a diverse range of companies in the sector.
It includes well-known brands like Danone, which invests its own capital in foodtech disruptors, and relative newcomers such as Beyond Meat, which quadrupled its stock value in three months following its public offering earlier this year.
“While there are well-established big brands like Danone and Nestle, start-ups like Beyond Meat and Blue Apron are also having an impact on the sector. eToro’s foodtech portfolio has been designed to provide a diversified long-term investment option for investors,” said Yoni Assia, CEO and co-founder of eToro.
The Asset reported on several foodtech- and agritech-related issues this year including the launch of Israeli-Singapore agritech start-up, Simpliigood Asia.
Simpliigood Asia is a joint venture between Tel Aviv-based Simpliigood and Sechel Asia. The latter is part of the Sassoon Investment Corporation, the Singapore-based family office of the Sassoon family.
In 2017, Singapore government investment fund Temasek Holdings led a US$75 million investment round in Impossible Foods. The California-based company is a plant-based meat company making meat and dairy products that are made to look and feel like animal products.
The Singapore government is also actively promoting the agritech sector to produce 30 percent of the country’s nutrition by 2030 from the current level of below 10 percent.
As it has with its push to become the leading Asian hub for financial technology, the Lion City wants to position itself as a leading urban agriculture and aquaculture technology hub for the region.
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