VVNP, a Singapore-based venture capital firm specialising in technologies for the global food and feed system, announced that it plans to launch a fund worth US$100 million. The fund will be the VC’s second one after its first US$40 million fund in June, as reported by Deal Street Asia.

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As one of the few venture capital firms in Asia with an extremely niche focus which is food tech, VVNP seeks to back startups with missions to solve food-related issues.

“What we need today is an entire change of the global food system. The technology, the science, the business model within the food industry. We try to identify bottlenecks that are really important for the industry and find solutions from there,” said VVNP founder Matthieu Vermersch.

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According to Vermersch, the reality is that exit opportunities in the food and feeds industry tend to be few and very limited. Not all ag-tech and food-tech companies are cut for venture capital, which means these investments tend to demand longer holdout periods.

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Image Credit: VisVires New Protein