LONDON — Tate & Lyle, P.L.C. will invest up to £30 million ($47.6 million) over an eight-year period in a new venture capital fund, the London-based company said Nov. 8. The fund formally will launch Jan. 1 and will invest in start-ups and expansion-stage companies in both developed and emerging markets in food sciences and enabling technologies.
Simon Barnes and David Atkinson independently will lead and manage the fund. Mr. Barnes and Mr. Atkinson also lead and manage another Tate & Lyle venture fund that was launched in 2006.
“Busy lives, an aging population and rapid urbanization in emerging markets mean that consumers across the world are looking to food to offer lifestyle solutions and bring added benefits such as fortification and enrichment,” Mr. Atkinson said. “New technologies will be instrumental in this convergence as the world’s major food companies increasingly reposition themselves with a focus on innovation and health.”