Monde Nissin, helmed by bilyonaryo Betty Ang, has locked in its investment in Terramino Inc., a US-based producer of alternative meat products.
In a stock exchange filing, Monde Nissin said the investment deal was finalized on March 24, following the successful execution of subscription documents and the transfer of funds representing the subscription price.
With a $2 million outlay, Monde Nissin has acquired a 1.89% stake, corresponding to 665,845 Series B preferred shares, in the young but promising Terramino.
Apart from an attractive return on investment, Monde Nissin’s investment could pave the way for potential research, development, and commercial collaborations with Terramino, which leverages fermentation technology to produce food products made from koji.
As Terramino navigates the early stages of its business life cycle, the investment from Monde Nissin bodes well for both companies’ growth prospects.