Tate & Lyle Plc (London, U.K.) has announced an investment of up to £30 million over eight years in a new venture capital fund. In line with Tate & Lyle’s strategy to grow in specialty food ingredients, the new fund will invest in start-ups and expansion-stage companies in both developed and emerging markets in food sciences and enabling technologies. As with Tate & Lyle’s first venture fund of April 2006, the new fund will be independently led and managed by Simon Barnes and David Atkinson. “Busy lives, an ageing population and rapid urbanization in emerging markets mean that consumers across the world are looking to food to offer lifestyle solutions and bring added benefits such as fortification and enrichment. New technologies will be instrumental in this convergence as the world’s major food companies increasingly reposition themselves with a focus on innovation and health,” said Atkinson. The new fund will be formally launched in January 2013. Tate & Lyle Ventures is an NCN Cornerstone Investor.
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