London-based Milltrust Ventures and Irelandâs Earth First Food Ventures are launching a new $300M (ÂŁ242M) Smart Protein Fund tomorrow directed at funding alternative proteins companies to âdisrupt and decarboniseâ the food industry.
âWe predict the market for meat alternatives, especially chicken and seafood, will increase significantlyâ
The new Smart Protein Fund aims to invest climate capital toward scaling up startups and companies developing innovative plant-based, fermented, fungi-based, and cultivated meat, fish, or dairy products to replace industrial farming.

26% of global green gas emissions
Speaking to City A.M., Alexander Kalis, managing partner at Milltrust International, commented: âItâs often conveniently forgotten that the food industry represents 26% of global greenhouse gas emissions â more than all forms of transport combined.â
According to the Smart Protein Fund, the alternative protein market received over $600M in investments last year. The 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 a $500 billion investment opportunity for early investors.

11% of the global protein market
âBy 2035, alternative proteins will very likely capture 11% of the global protein market, as consumers, companies, and investors push the values of ESG,â Brian Ruszczyk, CEO of Earth First Food Ventures, told City A.M.
âWe predict the market for meat alternatives, especially chicken and seafood, will increase significantly, rising from 2% of total protein consumption in 2020 to more than 20% by 2035,â Ruszczyk continued.
Milltrust Ventures, the venture investment arm of Milltrust International, is an investment organisation co-headquartered in London and Singapore. Earth First Food Ventures is a venture capital platform, ESG/impact investing in innovative food technologies, plant-based, fermentation, and cultivated assets.
Source: Vegconomist.com