Vegan Prince Khaled says pandemic set to boost food-tech investments

Vegan Prince Khaled says pandemic set to boost food-tech investments

The founder and CEO of KBW Ventures, a prominent venture capital firm in the Gulf, believes the global coronavirus pandemic will boost the food-tech industry as consumers seek safer food alternatives.

Saudi royal, Prince Khaled bin Alwaleed bin Talal Al Saud, a well-known proponent of a vegan lifestyle, also said the slowdown caused by the virus would not hamper investment flows into clean-tech and green energy.

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In an interview with state news agency WAM), he said: "With the proliferation of zoonotic disease, and the growing public awareness about the benefits that food-tech alternatives can provide, the pandemic has created a ripple effect. People want to know more about their food systems, and they want better, safer alternatives."

Prince Khaled, pictured below, added: "This is why I'm so excited about acting as an advisor to XPRIZE's Feed the Next Billion challenge," referring to the competition sponsored by ASPIRE, an arm of Abu Dhabi's Advanced Technology Research Council, which seeks food-tech solutions around chicken breast and fish fillet.

"These are the exact types of companies that we invest in; plant-based and cell-based solutions meant to