［Health Science domain］
The KIRIN HEALTH INNOVATION FUND Invests In Joywell Foods, Manufacturer Of Sweet Proteins Using Fermentation Technology
- CSV
May 30, 2022
Kirin Holdings Company, Limited
● Joywell Foods develops and manufactures “sweet protein” next-generation sweeteners through fermentation technology
● “Sweet proteins” derived from plants offer a healthier and environmentally-friendly sweetener alternative
● “Sweet proteins” are expected to help solve societal health issues caused by sugar or artificial sweeteners as well as contribute to the environment
TOKYO, May 12, 2022 - The KIRIN HEALTH INNOVATION FUND, a corporate venture capital (CVC)*1 fund founded by Kirin Holdings Company, Limited (Kirin Holdings) and Global Brain Corporation, (Global Brain) a leading independent venture capital firm, has invested in Joywell Foods, Inc. (https://www.joywellfoods.com/) (Joywell), a developer of sweet proteins through microbial fermentation of plant-derived sweet proteins in May 12, 2022. Through this investment, Kirin Holdings will explore the possibility of future collaboration using sweetened proteins with Joywell - a company that shares with Kirin Holdings the aim of tackling the same social issues of health and environment. This and other CVC investments are made in line with Kirin Holdings’ CSV*2 management as laid out in its Kirin Group Vision 2027 long-term management plan.
1: The practice of an operating company investing its corporate funds directly in an external startup company aligned with its business lines, intended to establish a mutually beneficial relationship or launch a new business by leveraging the latter’s assets.
2: Creating Shared Value: combined added value for consumers as well as for society at large.
About Joywell Foods
Joywell Foods is a food technology and consumer goods company leveraging microbial fermentation to unlock the power of sweet plant proteins in our modern diets. Sweet proteins, derived from exotic fruits and berries that evolved to provide sugar-like sweetness without sugar, are over 2000x sweeter than sugar, much lower in calories, and don’t impact blood sugar levels. Offering a better tasting and healthier alternative for the modern-day sweet tooth, Joywell Foods’ sweet protein platform presents a category-defining brand opportunity to change the role of sugar in our favorite foods. To learn more, visit joywellfoods.com.
Social Issues Tackled by Joywell
In recent years, social issues such as increasing global obesity rates due to rising sugar consumption and environmental problems in sugarcane production areas have emerged. In response, the global alternative sugar market continues to grow and is expected to expand from $16.5 billion in 2020 to $20.6 billion*3 in 2025. While traditional artificial sweeteners offer the advantages of low calories and not fattening, they have an unusual taste, can be addictive, dependence, and can cause health problems due to continuous overconsumption. Joywell is developing new sweeteners that addresses the health and environmental issues posed by sugar, while meeting the growing demand for sugar alternatives. To address these issues, Joywell developed plant-derived sweet proteins.
3: Source: H&I Global Research Co., "Sugar Substitutes Market by Type - Global Forecast to 2025"
Purpose of Establishing the KIRIN HEALTH INNOVATION FUND
Through the KIRIN HEALTH INNOVATION FUND, Kirin Holdings intends to invest in startups around the globe that have innovative technologies and business models for resolving health issues, and to leverage their advanced health science technologies and solutions for improving customer experience. By combining the Kirin Group’s wealth of assets and competence in health science with innovations and technologies that startups will bring to partnerships, Kirin Holdings will be better able to bolster its existing Food & Beverages domain as well as step up efforts to launch new businesses in its Health Science domain.
Supplementary Information
(1) About the KIRIN HEALTH INNOVATION FUND
| Fund name | KIRIN HEALTH INNOVATION FUND (registered as KIRIN and GB Investment Limited Partnership) |
|---|---|
| Primary sector for investment | Startups around the globe operating in the health science domain |
| Established | March 2020 |
| AUM | 5 billion yen |
| Investment period | 10 years |
| General partner | Global Brain Corporation |
(2) About Global Brain
| Company name | Global Brain Corporation |
|---|---|
| Head office | 10-11 Sakuragaokacho, Shibuya-ku, Tokyo, Japan |
| President | Yasuhiko Yurimoto |
| Established | January 1998 |
| Primary business | Venture capital business |
| URL | https://globalbrains.com/en |
(3) Overview of Joywell Foods
| Company name | Joywell Foods, Inc. |
|---|---|
| Head office | California, USA |
| President | Ali Wing |
| Established | 2014 |
| Primary business | Development of sweet proteins and production and sales of sugar-free foods |
| URL | https://www.joywellfoods.com/ |
About Kirin Holdings
Kirin Holdings Company, Limited is an international company that operates in the Food & Beverages domain (Food & Beverages businesses), Pharmaceuticals domain (Pharmaceuticals businesses), and Health Science domain (Health Science business), both in Japan and across the globe.
Kirin Holdings can trace its roots to Japan Brewery which was established in 1885. Japan Brewery became Kirin Brewery in 1907. Since then, the company expanded its business with fermentation and biotechnology as its core technologies, and entered the pharmaceutical business in the 1980s, all of which continue to be global growth centers. In 2007, Kirin Holdings was established as a pure holding company and is currently focusing on boosting its Health Science domain.
Under the Kirin Group Vision 2027 (KV 2027), a long-term management plan launched in 2019, the Kirin Group aims to become “A global leader in CSV*, creating value across our world of Food & Beverages to Pharmaceuticals.” Going forward, the Kirin Group will continue to leverage its strengths to create both social and economic value through its businesses, with the aim of achieving sustainable growth in corporate value.
* Creating Shared Value: combined added value for consumers as well as for society at large.
