Dao Foods Feeding China’s growing appetite for meat
A collaborative effort between Dao Ventures, Moonspire Social Ventures, and New Crop Capital, Dao Foods is introducing innovative and climate-friendly protein products, primarily plant-based and clean meat (PBCM), into the Chinese market.
This cross-border impact venture aims to disrupt the global meat, egg, and dairy markets in order to curb the environmental impact of meat production and address the health and safety concerns of meat consumption in China. This comes as the Chinese government seeks to potentially cut the country’s meat consumption in half by 2030.
“With rapid rising incomes and increasing meat consumption in China, our aim is to introduce alternative products into the China market to reduce the consumer demand for animal products from the traditional livestock industry, which has had growing negative environmental, food safety and health impact,” said Albert Tseng, co-founder of Dao Foods and Managing Director of Moonspire Social Ventures.
Dao Foods was founded by experienced impact investors and social entrepreneurs Tao Zhang and Albert Tseng, representing Dao Ventures and Moonspire Social Ventures, respectively, in collaboration with New Crop Capital, a Dao Foods founding investor and specialized private venture capital fund. Dao Ventures has supported more than 1,000 Chinese and international SMEs and made and facilitated over $200 mill. in impact investments. New Crop Capital has made investments in 16 of the most innovative companies in the alternative protein space worldwide.
The founding members of Dao Foods will be leveraging their existing relationships in both North America and China, including the nonprofit Good Food Institute, which co-initiated the formation of this new endeavor, as well as Dao Ventures’ local infrastructure, to deliver solutions for China’s skyrocketing meat consumption.
Dao Foods International, Inc., is headquartered in Toronto, Canada and plans to establish a China office soon as it conducts ongoing market research with various stakeholders on the ground in China while continuing its collaboration with North America-based partners.