By Blue Horizon
Zurich, 7 September 2020 – Blue Horizon Corporation, a pure play investment company with focus on investments in innovative companies in the Food 4.0 sector, today announced that it has raised its equity stake in New Roots, a Swiss based producer of alternative cheese based on cashew milk in a capital increase completed in August 2020.
Founded in 2015 and based in Thun, Switzerland, New Roots is an innovative vegan cheese start-up. The company’s vegan cheese alternative is made from homemade organic cashew milk and the same artisanal techniques of fermentation and ripening as traditional cheese. It offers a selection of tasty kinds of cheese and joghurts, including cream cheese, ricotta, camembert and fresh cheese with different herbs and spices, enabling consumers to transition to a plant-based diet. The two largest Swiss retailers, Coop and Migros, both added products of New Roots to their product range.
The cashew nuts are supplied by a partner farm in Vietnam, which was selected based on high quality and human rights standards. Although the cashew nuts are imported from Vietnam, the company’s ecological footprint is smaller than it would be with traditional cheese. From one kilo of nuts 2 kilos of cheese can be produced. With cow milk, in contrast, it takes up to 12 liters for one kilo of cheese. Started in the kitchen of Co-Founder Freddy Hunziker, who sold his first product to the local Eco store around the corner, the start-up quickly developed into a 20 person enterprise. In 2019, New Roots won the Swiss Economic Award in the category Production / Trade & Industry. The investment of Blue Horizon in the course of a capital increase is a major step in the history of the young company.
Freddy Hunziker, Co-Founder & CEO of New Roots said: “We are very excited to have Blue Horizon as a partner which enables us to drive forward new initiatives, increase our product range and capabilities and enhance our brand and network. We share a common vision and look forward to further working together on offering delicious, ethical and sustainable alternatives to traditional cheese made from animal milk.”
Björn Witte, CEO of Blue Horizon, said: “New Roots already has a unique growth story and the company is very well positioned to capitalize on the growing demand for alternative dairy. In particular, the products of New Roots appeal to the taste of consumers. We are happy to bring our experience and operational capabilities into partnership with the young and talented team in order to shape the future of plant based cheese in Switzerland and globally.”
About Blue Horizon Corporation
Blue Horizon Corporation has shaped the growth of the market for alternative proteins since the beginning and accelerates it through targeted investments as a pure play industry pioneer.,. The company aims to sustainably transform the global food industry through investments into companies who are replacing animal proteins with healthy, alternative protein sources across the global supply chain. Blue Horizon was founded in 2016 and is based in Zurich and Los Angeles. The company launched its first venture fund in 2018. Since then, it has completed over 50 seed and venture capital investments in the alternative protein food tech sector and raised more than CHF 350 million. Its business model offers a unique market access from Seed to Consolidation via funds and direct investment platforms throughout all stages of asset lifecycles. More on www.bluehorizon.com
Martin Meier-Pfister, IRF
Phone +41 43 244 81 40