New York, NY, November 15, 2023 — Big Idea Ventures (“BIV”), the global leader in early-stage alternative protein and food technology investing, has launched its second portfolio company through its Generation Food Rural Partners Fund.
BioBond Adhesives (“BioBond” or the “Company”) is a material science company utilizing cutting edge technology to replace petroleum-based adhesive materials in the food and agriculture industries’ supply chains.
ESG compliant companies and governments are leading industries away from petroleum-based products and toward truly renewable or biodegradable products. A future with fully compostable paper and packaging products requires equally sustainable adhesives. BioBond Adhesives, Inc. uses pressure-sensitive and epoxy-strength solutions that are biodegradable — made from natural materials that are both inexpensive and plentiful, such as agricultural waste. The Company will partner with various universities to license intellectual property and commercialize those patents into new, bio-based adhesives.
“We are very pleased with the progress that we have made with the GFRP Fund so far, and this second investment will only further our work in enabling sustainable solutions for the food and agriculture industries,” said Tom Mastrobuoni, Chief Investment Officer of Big Idea Ventures. “We are committed to continue platforming university developed intellectual property and commercializing it in the US, creating living wage jobs in rural communities.”
The board of directors of BioBond has appointed Marc McConnaughey as Chief Executive Officer. Marc is a seasoned startup leader with a broad range of experience in scaling and commercializing technologies to global markets.
“The BioBond platform has the potential to accelerate the adoption of bio-based adhesives by providing a bridge between academia and industry”, said Marc McConnnaughey, Chief Executive Officer of BioBond. “By working with universities to commercialize their intellectual property, BioBond can help to bring new and innovative bio-based adhesives to market more quickly which will benefit both the environment, businesses of all sizes, and bring living-wage jobs to rural communities, broadening our innovation economy.”
The GFRP Fund evaluates intellectual property focused on innovations in the agriculture, food, and protein sectors. The GFRP Fund invests to create new companies formed around research with the greatest chance for broad commercialization. These new companies will be headquartered in rural communities, creating living wage jobs to drive economic growth and development.
About BioBond Adhesives
BioBond Adhesives (“BioBond” or the “Company”) is a material science business specializing in the development of bio-based adhesive products for the food and medical industries, eliminating petroleum-based ingredients. The Company is the second investment by the Generation Food Rural Partners fund, a RBIC-licensed investment fund designed to drive economic growth and development in rural communities in the US. The Company will license intellectual property from universities and commercialize the technology to address challenges to the agriculture and food industries. For more information, visit biobondadhesives.com
About Generation Food Rural Partners
Generation Food Rural Partners (“GFRP” or the “Fund”) is a RBIC-licensed investment fund designed to drive economic growth and development in rural communities in the US. The Fund invests in the area of Food, Agriculture and Protein technologies to form new companies based on intellectual property, creating living wage jobs at its portfolio companies. GFRP is backed by members of the Farm Credit System, including Farm Credit Services of America, CoBank, Compeer Financial and Mid-America Farm Credit. GFRP is a part of Big Idea Ventures, the world’s most active investor in FoodTech, investing in the best food technology and AgriTech companies globally. Big Idea Ventures has offices in New York, Paris and Singapore and has invested in more than 100 companies across 30 countries. For more information, visit bigideaventures.com/generation-food-rural-partners