- Betagro PLC launches its corporate venturing arm – Betagro Ventures – covering both venture capital (VC) investments and venture building (VB) of new businesses
- The US$30mn venture fund will invest global in early-stage foodtech and agritech startups with distinctive technologies
- Betagro Ventures will seek to drive innovation and establish strategic partnerships across the Betagro ecosystem
01 May 2024 – Betagro Public Company Limited, or BTG, Thailand’s leading integrated food company, has launched Betagro Ventures, a new subsidiary focused on spurring innovation across the BTG ecosystem. Betagro Ventures will operate on three core strategies: (1) improving consumers access to safe & high-quality foods, (2) developing new sustainable sources of protein, and (3) creating sustainable agro-industrial-food supply chains. These strategies will be achieved through targeted venture capital investments and the incubation of internal startups.
The US$30 million venture fund will invest in early-stage startups that are developing new innovations aligned to Betagro Ventures’ core strategies. With these direct investments, Betagro Ventures will seek to leverage the broader Betagro ecosystem to support startups in providing access to end-consumers, domain expertise and strategic partnership opportunities.
Complementing the venture fund, Betagro Ventures will also focus on incubating and scaling internal business ventures. Through combining BTG’s deep agrifood industry expertise with new entrepreneurial talent, Betagro Ventures aims to create new resilient ventures that can complement BTG’s core businesses.
Mr. Chayadhorn Taepaisitphongse, Chief Strategy and Innovation Officer of Betagro Public Company Limited (BTG) and Managing Director of Betagro Ventures, stated that “today’s traditional business models face challenges from technology disruption and rapidly changing consumer behaviors. Yet, opportunities exist to embrace innovation by collaborating with startups to develop and scale new technologies. BTG believes in the Open Innovation model that promotes collaboration between internal and external stakeholders to accelerate new technologies that can better serve today’s ever-changing market.”
“Betagro Ventures will be a key mechanism in propelling BTG’s businesses into a new era of sustainable growth,” added Mr. Chayadhorn. “Through both venture investments and venture building efforts, Betagro Ventures hopes to develop new innovations that ensure access to high-quality and safe foods that meet the changing needs of our consumers, thereby elevating Thailand’s and ASEAN’s food industry to new heights.”
