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Monday, December 4, 2023

Oisix-La Daichi launches second fund of "Future Food Fund," a CVC specializing in the food domain.

Oisix La Daichi, a provider of food subscription services, has formed Future Food Fund No. 2 Investment Limited Partnership, a CVC fund specializing in the area of food innovation!

About FFF No. 2 Fund

The FFF No. 2 Fund was formed in January 2023 and has been investing in startups since April 2023, aiming to reach a total size of 7 billion yen together with No. 1 by the close of the fund in December 2023. The fund will be launched by three limited partners ("LPs"), starting with Oisix La Daichi Corporation, Godo Kaisha K4Ventures (Kansai Electric Power Group), and Watanabe Pipe Co.
Continuing from the first fund, which was completed in 2020, the fund targets a variety of startups in the food sector, both domestic and international. By maximizing the use of LP's platform and business characteristics and continuously providing a wide range of implementation support to investees, we aim to build an ecosystem that will enable startups to grow their technologies and services more quickly.

Trends for investment in the food area

Humanoid cooperative robot (photo courtesy of RTI Corporation)

Global investment in the food tech sector is on the rise, exceeding $51.7 billion globally by 2021. In the U.S., where startup investment is thriving, $21 billion has been invested in the food sector, while investment in Japan is at $500 million, and is expected to increase in the future. (*1)

The food sector will become a further growth industry by attracting investment in the development of new food products such as cultured meat and plant-based food, kitchen tech, and agricultural DX. 111 companies (*2) of the 125 companies conducting IPOs in 2021 are listed on emerging markets, an increasing trend, and startups are expected to continue to play an active role. The number of startups is expected to continue to grow in the years to come.
(*1) AgFunder "2022 AgFunder AgriFoodTech Investment Report" , 2022 Asia-Pacific AgriFoodTech Investment Report "
(*2) KPMG IPO Report

Future Food Fund No. 1 Investment Limited Partnership

Basefood Company Products

The Future Food Fund No. 1 Investment Project, which was formed in 2019, raised ¥2 billion from 14 operating companies and invested in a total of 19 startups (including 5 overseas companies).
Recently, one of our portfolio companies, Base Food Corporation, was listed on the Tokyo Stock Exchange Growth Market in November 2022, only about three years after our investment. In addition, we have been able to create many synergies through product development between our portfolio companies and Oisix La Daichi Corporation, and through the development of new sales channels with LPs. As one of the few funds specializing in the food industry, we will continue to create innovation.

About K4Ventures, LLC (Kansai Electric Power Group)

As a CVC of Kansai Electric Power Company, Inc., the investment entity to strengthen the Group's ties with venture companies that possess innovative technologies and business models.

name of companyK4 Ventures, LLC
EstablishmentSeptember 1998
Location3-6-16 Nakanoshima, Kita-ku, Osaka City
representativeSeiichiro Hamada
uniform resouce locatorhttp://www.k4v.co.jp/

About Watanabe Pipe

Watanabe Pipe started business in 1953 as a trading company specializing in the sale of pipe materials. Today, with the aim of becoming a "100-year brand", we connect water, housing, agriculture, and all other living infrastructures, proposing a healthy and comfortable living environment. We handle all kinds of commercial materials related to housing (pipes, fittings, valves, water heaters, lighting, distribution cables, power distribution equipment, etc.) and deliver them to public facilities, houses, offices, factories, and other construction sites.

name of companyWatanabe Pipe Co.
EstablishmentApril 15, 1957
LocationHamarikyu Parkside Place 6F, 5-6-10 Tsukiji, Chuo-ku, Tokyo 104-0045, Japan
representativeKeisuke Watanabe, President and Representative Director
uniform resouce locatorhttps://www.sedia-system.co.jp/

About Base Food

Base Food, Inc. is a food tech company that started in 2016 with the mission to "Innovate staple foods and take health for granted." and is a food tech company that started in 2016 with the mission of "making health a normal part of life.
Listed on the Growth Market of the Tokyo Stock Exchange in November 2022. Oisix La Daichi Co., Ltd. provided support through collaboration in the sale of base food products at the Craft Market (currently suspended) and the provision of BASE BREAD to healthcare professionals at WeSupport, a support activity for healthcare professionals at the Corona Disaster.

name of companyBase Food Co.
EstablishmentApril 5, 2016
representativeShun Hashimoto
Business OverviewDevelopment and sales of complete nutritional food
uniform resouce locatorhttps://basefood.co.jp/

About Oisix La Daichi

Oisix La Daichi Corporation (Representative: Kohei Takashima) provides a regular delivery service of safe and secure agricultural products and meal kits through its major domestic brands, Oisix, Radishbo-ya, and Daichi wo Mamoru Kai.
We are expanding our food subscription services to include our subsidiary Tokushimaru, a mobile supermarket for shopping refugees, and Purple Carrot, which offers vegan meal kits in the United States.
As a "sustainable retailer," we aim to achieve zero food loss throughout the entire supply chain, from field to table, through order forecasting based on a subscription model, active use of non-perishable products, and meal kits that reduce food waste at home.

name of companyOisix La Daichi Co.
LocationGate City Osaki East Tower 5F, 1-11-2 Osaki, Shinagawa-ku, Tokyo
representativeKohei Takashima
uniform resouce locatorhttps://www.oisixradaichi.co.jp/

About Future Food Fund

Future Food Fund K.K. is a Japan-based CVC specializing in the food domain, established by Oisix La Daichi Co. By actively investing in advanced food, agriculture, and healthcare domains in Japan and abroad with limited partners, the Fund is building an ecosystem to support startup companies in Japan through sales, product development, and other assistance.
Future Food Fund, Inc. is looking for companies to collaborate with and support the startups in which we invest together. Please contact us. We are also looking for staff to work at Future Food Fund as we expand our fund business.

name of companyFuture Food Fund, Inc.
uniform resouce locatorhttps://futurefoodfund.co.jp/
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