Calbee has extended its partnership with venture firm Pegasus Tech Ventures with the formation of a food technology-focused fund.
Japanese snack food producer Calbee has allocated up to $100m in capital to a newly formed corporate venture fund that will target technologies with the potential to inform new food products.
The as yet unnamed fund will be managed by US-based venture capital firm Pegasus Tech Ventures and comes in the wake of a partnership agreement between the firms that was sealed in August 2024.
Calbee specialises in potato and cereal-based snacks and aims to access innovative technologies and ideas through the fund, which will invest in the US, Europe, Israel and Asia, potentially entering new food areas or exploring technologies in the agritech and health sectors.
No investments have yet been disclosed by the fund, but Pegasus’s existing portfolio companies include food supply chain services provider GrubMarket, valued at $3.5bn as of March this year, and grocery shopping service Instacart, which has a current market cap of over $10bn.
