Rethink Food Newsletter September 2024

Spotlight: AI and Plant Genomics

At Rethink Food, we are particularly excited about how AI is transforming plant genomics, making it easier to develop improved crops. In our recent blog post, our very own Brad Jakeman outlines how AI speeds up the process of identifying genetic traits that enhance plant growth, disease resistance, and adaptability to different environments. The technology also accelerates gene editing, allowing for the creation of crops with better nutritional value, higher yields, and greater resilience to environmental changes.

As Brad says, “before AI, understanding plant genomes was nearly impossible. Now, AI technologies enable scientists and startups to unravel these complexities, creating solutions to help plants survive threats like pollution, urbanization, climate change, and other problems that compromise their quality and growth.”

Take, for example, the work of Phytoform, a company we invested in earlier this year under our AgTech & Precision Farming vertical. Phytoform uses a patented machine learning technique, CRE.AI.TIVE, to make precise genetic modifications quickly and cost-effectively. The company can develop new plant traits in under two years for about $2 million, compared to the traditional eight-year process costing $115 million. By analyzing millions of DNA sequences, Phytoform identifies and applies beneficial traits across various plant species without introducing extra genes.

Phytoform logo

Phytoform’s technology benefits both traditional crops like potatoes and tomatoes and emerging agricultural methods like vertical farming and plant-based proteins. By integrating AI with advanced gene editing, Phytoform is helping to create crops that are more sustainable and adaptable, which is crucial for improving food security and addressing environmental challenges in modern agriculture.

“Advanced machine learning will help researchers solve the puzzles of plant biology, offering innovations that improve the future of agriculture and human wellbeing.” –Brad Jakeman, Founding Managing Partner of Rethink Food.

Read more.

Portfolio Highlights

Brightseed outlined the science behind the benefits of hemp hull for gut and liver health in Nutraceutical Business Review.

Harmony CEO Del Afonso joined The Passage to Profit Show to share how the company is working to revolutionize the future of infant nutrition.

Kernel introduced new updates (“Kernel 2.0”) including the addition of healthy non-vegan options to its menu, storefront optimizations, extended hours, and expanded delivery services. In June, the company also welcomed an excited new addition to the team – Peloton co-founder Tom Cortese joined as COO, bringing with him a wealth of consumer insights and technology expertise.

Following the launch of Plenty last year, Omeat released a white paper detailing how the ethical alternative to Fetal Bovine Serum (FBS) performs with various cell types, based on feedback from third party users.

Territory was ranked the best prepared meal delivery overall by Yahoo, outweighing name competitors like Factor, Mosaic Foods, CookUnity, and Fresh N Lean in terms of taste, ingredients, preparation, and packaging. The company also ranked ‘Best Meal Planning Service for Eating Local’ in 2024 by Men’s Journal.

The Latest from the Rethink Food Team

Our team has expanded its presence in the industry by participating in a series of conferences and speaking engagements over the past few months.

  • Brad’s article, “Are plant-based meats cooked?” was featured in AgFunder News.
  • In early May, Rini joined likeminded professionals at the Milken Institute Global Conference where she spoke on the “Systems Finance for Sustainable Development” panel. Watch it here.
  • Brad spoke on driving social equity through venture at the Wealth of Nations Impact Hybrid Conference in late May.
  • Rini was featured on the Social Impact Power Chats podcast with Emily Kane Miller to talk about the exciting innovations happening in food and agriculture that are helping to digitize and decarbonize the food system. Tune in!
  • Our parent company, Rethink Capital Partners, was named to New Private Markets 2024 list* of the world’s 50 largest impact capital managers. We’re proud to be part of this platform and team!
  • The 305 is on track to becoming a leader for climate innovation! Rini participated in a Harvard Business School case study on Miami’s Climate Tech Ecosystem, highlighting the significant progress the city has made and identifies areas for improvement.
  • In collaboration with The Global Impact Investing Network (GIIN), the Financial Times published a list of 100+ impact investors**, including our parent company Rethink Capital Partners. Check it out to see where capital is making a difference and inspiring future investments.

Rini’s panel at the Milken Institute Global Conference. 

Brad on driving social equity through venture at the Wealth of Nations Impact Hybrid Conference.

Rethink Capital Partners, was named to New Private Markets 2024 list* of the world’s 50 largest impact capital managers.

Upcoming Events

We have several exciting events and opportunities coming up! Details below on where to reach us. 

*Announced on July 24, 2024, the Impact 50: 2024 is a list of the largest managers of impact capital in private markets based on five-year fundraising totals. Rated by New Private Markets, this version of the Impact 50 list is based on the amount of dedicated impact capital raised by firms between 1 January 2019 and 31 December 2023. To compile this list, the New Private Markets research team is guided by GIIN’s definition of impact investing, which requires strategies to include intentionality as well as impact measurement and reporting. Additionally, they must seek financial returns, and they are not bound to any particular asset class. This recognition is or may be considered to be an endorsement by New Private Markets of Rethink Capital Partners, LLC (the “Company). New Private Markets is not a client of the Company or an investor in any fund or entity advised by the Company. New Private Markets is NOT compensated by the Company. The Impact 50 is not a performance ranking, nor does it constitute investment recommendations.

 

**Published exclusively by the Financial Times (“FT”) on July 31, 2024, the Global Impact Investing Network (“GIIN”) produced a list of impact investing organizations that includes specific data from named firms, some with billions of dollars in impact assets. The GIIN’s 2024 investor research is based on data from 305 organizations that use an impact investing strategy. This data was collected using a questionnaire administered from January to March 31, 2024, whose purpose was to gather information about activities in impact investing, practices for measuring and managing impact, and industry perceptions. To gather a diverse sample, a survey invitation was distributed to individuals at 18,491 identified impact investor organizations, including subsidiaries and regional divisions. To meet the eligibility criteria, respondents must have either committed at least $10m in impact assets or completed at least five impact investing transactions since their inception. The impact AUM listed includes assets invested both directly and indirectly, leading to potential double counting. This recognition is or may be considered to be an endorsement by FT and/or GIIN of Rethink Capital Partners, LLC (the “Company). The FT nor GIIIN is not a client of the Company or an investor in any fund or entity advised by the Company. FT nor GIIN is NOT compensated by the Company. The impact investor list is not a performance ranking, nor does it constitute investment recommendations.

 

The information contained herein is confidential and should not be distributed, published or reproduced, in whole or in part, nor should its contents be disclosed by recipients to any other person without the prior written approval of Rethink Food.  This material is for general informational purposes only and is not intended as investment advice, as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation, or sponsorship of any company, security, advisory service, or product. This information should not be used as the sole basis for investment decisions. All content is presented as of the date published or indicated only, and may be superseded by subsequent market events or for other reasons. Past performance is no guarantee of future results. Investing involves risk including the loss of principal and fluctuation of value.