Strategic Investment in Food & Biotech: Insights from Global & Regional CVCs

Panel Discussion: “How We Invest in Food & Biotech Startups” at Techbite Food & Biotech by Ajinomoto x KX, June 11, 2025
Motto: “Beyond Capital: Building Long-Term Value through Strategic Partnership”

One of the most anticipated sessions at Techbite Food & Biotech by Ajinomoto x KX on June 11, 2025, was the panel discussion on investment strategies in food and biotech startups. The panel featured thought leaders from both corporate and venture investment backgrounds:

• Dr. Kenji Abe, Senior Manager, Acceleration Group and Innovation Strategy, CVC Group, Ajinomoto Co., Inc.
• Mr. Hiroyuki Saito, Manager, Asian Region Lead, Ajinomoto Group Ventures
• Mr. Maximilian Von Poelnitz, Managing Director, Ajinomoto Group Ventures
• Mr. Wasutee Poowuthichai, Ventures Investment Lead, Betagro Group Ventures

Ajinomoto’s Approach: Strategic, Global, and Deep-Tech-Oriented

Dr. Kenji Abe opened by explaining Ajinomoto’s investment focus areas such as cell-based meat, alternative proteins, and healthcare-related food technologies. He shared the example of their investment in SuperMeat (Israel) and product development collaborations in Singapore.

Dr. Abe also highlighted Ajinomoto’s interest in contributing to the GLP-1 drug ecosystem, reflecting the company’s willingness to explore food-health intersections.

“Startups should focus on solving one clear problem first, rather than trying to do everything at once,”Dr. Abe emphasized, encouraging early-stage founders to demonstrate proof of concept before scaling broadly.

Mr. Hiroyuki Saito added that Ajinomoto’s CVC activities prioritize food, wellness, and GreenTech, with a focus on startups from Japan, Thailand, and Southeast Asia. His team looks not only for direct investment opportunities but also partnerships that can generate medium to long-term business creation and valuable market insights.

As Saito noted, “Finding the right internal champion in a corporate partner is essential to driving collaboration,” highlighting the need for startups to connect with key decision-makers within large corporations.

Mr. Maximilian Von Poelnitz emphasized that Ajinomoto’s fund—approximately USD 100 million, targeting Series A stage startups—adopts a strategic-first approach, especially in Japan and Southeast Asia. He explained that Ajinomoto seeks startups that align with its core capabilities such as amino science, fermentation, and distribution networks.

“Startups need to understand the corporate investor’s strategy to build meaningful partnerships,”Max advised, urging founders to tailor their pitches to fit Ajinomoto’s long-term vision.

Betagro Group Ventures: Aligning Investments with “Farm-to-Fork” Strategy

From a regional perspective, Mr. Wasutee Poowuthichai of Betagro Group Ventures shared their “farm-to-fork” investment thesis. Betagro focuses on sustainable feedstock, precision farming, animal health technologies, and novel food ingredients that enhance both human and animal nutrition. With a fund size of USD 30 million, Betagro primarily invests in Pre-A to Series B stages but remains flexible depending on the opportunity.

Wasutee highlighted, “We look for founders with passion and uniqueness that set them apart in the market,” reflecting Betagro’s focus on teams that demonstrate both technical potential and distinct market positioning.

Wasutee emphasized that Betagro’s investment decisions are driven by strategic returns—supporting innovations that directly impact Betagro’s core business operations, from sustainable livestock feed to functional food ingredients.

Balancing Strategic and Financial Returns

When asked how they balance strategic objectives with financial returns, all panelists agreed that both aspects are critical. Saito explained that while strategic value is the priority, financial sustainability ensures the longevity of any partnership. Max highlighted Ajinomoto’s dual approach: investing in deep-tech ventures with long-term potential and market-ready solutions for immediate impact, maintaining a roughly 50/50 portfolio split.

Wasutee agreed, noting that Betagro seeks innovations with direct operational benefits, whether in sustainability, production efficiency, or health impact.

Advice to Startups: Clarity, Focus, and Partnership Readiness

In their closing remarks, panelists offered valuable tips for startups:

• Mr. Maximilian Von Poelnitz urged startups to research and understand CVC’s business models before pitching, noting that alignment is key to success.
• Dr. Kenji Abe advised startups to focus on solving one specific problem effectively.
• Mr. Hiroyuki Saito emphasized the importance of identifying internal champions within corporate partners.
• Mr. Wasutee Poowuthichai encouraged founders to show genuine passion and differentiation—traits that distinguish promising startups in crowded markets.

The panel concluded that in today’s challenging funding landscape, strategic partnerships with CVCs can offer not only capital but also networks, industry expertise, and long-term growth opportunities. As the motto suggests:

“Beyond Capital: Building Long-Term Value through Strategic Partnership.”

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