Germi8, a new agritech-focused private investment firm, was launched in Singapore yesterday, the company said in an official statement.
Co-founded by Leave a Nest and Focus Tech Ventures, in collaboration with Japanese corporates Kobashi Industries and Euglena, Germi8 plans to invest approximately JPY 100 million (USD 940,176) in about 20 projects in Southeast Asia over the course of the next three years.
The new private investment firm will focus on seed-stage startups developing alternative proteins, such as plant-based and fermentation-based meat substitutes, seafood, and clean meat. The company will also concentrate on insect-based functional foods, as well in startups focusing on supply chain-related technologies to reduce waste.
Leave a Nest and Focus Tech Ventures will leverage on Kobashi Industries’ expertise as an agricultural machinery manufacturer and distributor, as well on Euglena’s experience in the biotechnology and food industry, to help new agritech startups establish themselves in Singapore and expand to other countries in Southeast Asia and Japan.
Leave a Nest already has a flagship program called “Tech Planter”, which is a seed acceleration program to nurture startups aimed at new venture creation around deep science and technology. As of August of this year, agritech startups accounted for over 25% of its total participants.