NEW YORK, April 13, 2021 (GLOBE NEWSWIRE) -- Big Idea Ventures, the global leader in early-stage alternative protein investing, recently announced the launch of the Generation Food Rural Partners (GFRP) fund with NC State as the inaugural collaborator. GFRP is a $125 million target fund that will fuel economic development in rural communities through the commercialization of university-developed intellectual property. Today, BIV is announcing nine additional university collaborators to the fund:
“We’re honored to welcome these universities to the GFRP consortium,” said Tom Mastrobuoni, chief investment officer for Big Idea Ventures. “The research being conducted at each of these institutions spans our three areas of focus: breakthroughs in food, protein and agriculture innovation. Our team is excited to start building new companies based on technology being developed by some of the world’s best and brightest.”
The GFRP fund will establish venture centers to facilitate collaboration with multiple leading U.S. universities. BIV will staff the venture centers with team members experienced in evaluating intellectual property to work with the universities to identify and evaluate new developments with the strongest commercialization potential and the fund will then invest in new companies formed around the groundbreaking research. These new companies will be headquartered in rural communities near the collaborating universities. The GRRP team expects the first of these to open in conjunction with the initial closing of capital commitments.
“We believe GFRP will drive additional research and encourage entrepreneurs to establish their companies near our venture centers in rural America,” added Andrew D. Ive, founder and managing general partner of BIV. “Our rural communities have always been the center of our country’s food production and this is one way to help those communities continue to grow economically into the future.”
About Big Idea Ventures
Big Idea Ventures (BIV) is solving the world's greatest challenges by supporting the world’s best entrepreneurs. Big Idea Ventures develops the most globally strategic funds delivering significant investor returns while addressing real world challenges. BIV is focused on alternative protein with its New Protein Fund, innovations in the food industry to solve challenges in waste, water use, plastic use and CO2 with its Generation Food Fund and commercialization of university intellectual property with its Generation Food Rural Partners fund. www.bigideaventures.com
Media Contact
Big Idea Ventures | Tom Mastrobuoni | tom@bigideaventures.com | +1-201-725-3800