Thai Union Group PCL, Bangkok, created a $30 million venture fund for investments in innovative companies developing breakthrough technologies in food-tech.

The fund will focus on three strategic areas—alternative protein, functional nutrition and value chain technology.

“Over the last years, Thai Union has made significant investments to become a leader in seafood innovation and sustainability,” says Thiraphong Chansiri, chief executive officer. “As we move into the coming decade, we will increasingly cooperate with innovative start-ups in strategically interesting areas. This will complement our own activities as we are broadening our business beyond our traditional core.”

Thai Union’s first investment is in Flying Spark, an Israel-based alternative protein start-up.