Tate & Lyle, a London-listed sugar maker, has committed £30m ($50m) to its second corporate venturing fund that will have an eight-year investment period.
From January, Tate & Lyle Ventures II will invest in eight to 10 start-ups and expansion-stage companies in both developed and emerging markets in food sciences and enabling technologies to support the parent company’s strategy to grow in speciality food ingredients.
Karl Kramer, president of innovation and commercial development at Tate & Lyle, said: “We have seen with our first fund how beneficial a corporate venturing capability can be. The combination of the new fund and our internal open innovation team will enable us to access the full spectrum of new ideas, technologies and opportunities in the global food science and investment community.”
As with Tate & Lyle’s first venture fund, which was launched in April 2006, fund II will be independently led and managed by…
