CHICAGO — ADM Ventures, the corporate venture capital arm of ADM, is joining forces with the Genesis Consortium.
Founded by Silicon Valley-based investors SOSV and Mayfield Fund, Genesis is a global alliance of venture capital firms and corporations dedicated to supporting startups that leverage biology to promote human and planetary health. SOSV is the parent company of IndieBio, a startup accelerator and early-stage investor for biology-centered startups.
The new partnership will accelerate the commercial launch and scale-up of startups solving health and environmental problems, according to ADM.
“We view the Genesis Consortium as a conduit through which ADM can collaborate with emerging players in the industry to bring to market new, natural products that simultaneously meet consumer demands and solve pressing global challenges,” said Ian Pinner, chief strategy and innovation officer at ADM. “Innovative startups are unlocking scientific advancements by leveraging biology and fermentation to produce nutritional, health and wellness, and bio-material solutions sustainably and cost-competitively. ADM is focused on leveraging its deep expertise in fermentation to accelerate the commercialization of these game-changing innovations.”
ADM works with innovators advancing sustainability across its global business and has recently announced partnerships with startup companies including Air Protein, a maker of air-based meat, Spiber, a maker of lab-grown spider silk, and NET Power, a clean energy company.
Through ADM Ventures, it invests in startups with disruptive technologies across three key areas: human nutrition, animal nutrition and sustainability. It also seeks startups that utilize ADM’s assets and feedstock to produce sustainable materials, in addition to technologies that enhance the effectiveness of ADM’s operations. ADM Ventures’ separate, internal incubated new products group creates and operates new product lines and new businesses for the company.