● Proterra Asia is the lead investor in OATSIDE, which plans to become the major oat milk brand in Asia
● OATSIDE is the first “full-stack” oat milk brand from Asia and will be available in three variants at select retail locations from today
Singapore/London, 8th February 2022 - Proterra Investment Partners Asia (“Proterra Asia”), the Asian arm of leading global food and agribusiness private equity fund manager Proterra Investment Partners, is pleased to announce that portfolio company OATSIDE is launching its plant-based milk product made from oats.
Proterra Asia, investing via its Food Strategy, led OATSIDE’s Pre-Series A funding round. OATSIDE has raised S$22 million to date.
OATSIDE was crafted to be a delicious alternative to dairy, and is creamier and maltier than the plant milks consumers are typically used to. Developed amidst the pandemic by its Singaporean founder and CEO Benedict Lim, OATSIDE is one of the first “full-stack” oat milk brands to originate from Asia, with in-house manufacturing capabilities and full control over its sourcing and production process.
OATSIDE is introducing three oat milk variants - Barista Blend, Chocolate and Chocolate Hazelnut – all of which will launch in select market locations across Asia this year.
The product was created without the use of artificial flavours, gums, emulsifiers, preservatives, or colouring, and contains beta glucans, an important contributor to heart health, with the ability to reduce cholesterol and boost immunity, whilst being low in saturated fats. OATSIDE is a delicious alternative to dairy milk, and is also suitable for lactose intolerant consumers.
OATSIDE is a highly sustainable product, as the production of oat milk requires 90% less land and water, and produces 70% less emissions as compared to cow’s milk. In addition, OATSIDE sources Rainforest-Alliance certified ingredients and uses recyclable paperboard packaging from Forest Stewardship Council certified sources.
Tai Lin, Managing Partner, Proterra Asia, said: “We believe plant-based milk is a high growth sector in Asia. OATSIDE’s offering fits perfectly into our approach of investing in the most exciting food trends in the region. Plant-based milk is the sustainable future of milk and we believe OATSIDE will be the leading driver of the category in Asia with its best-in-class taste.
“The superior health and sustainability benefits of OATSIDE align with our focus on backing high-quality companies which have the potential to sustainably feed the world’s rapidly growing and urbanising populations. Nowhere is this trend more prevalent globally than in Asia. We are excited to be a part of the OATSIDE journey and to be supporting Benedict and team to build a flagship Asian brand and a market leader in the plant-based food space.”
Benedict Lim, Founder and CEO of OATSIDE, said: “Today is an exciting milestone for us. We’ve worked really hard to develop a plant-based milk for Asia that doesn’t feel like a compromise on quality, taste or texture. We hope to contribute to a growing stable of plant-based products where picking the sustainable option doesn’t taste like ‘doing your part’.
“The Proterra Asia team have provided valuable contributions in the run up to today’s launch of OATSIDE. We look forward to continuing our partnership, leveraging their specialist expertise in the Asian food and beverages space as we seek to continue to grow the business.”
Proterra Asia’s Food Strategy capitalises on accelerating consumer demand that comes with growing urban populations and the emergence of a new generation of consumers looking for safe, high quality food products with attributes that meet their desires for health, nutrition, convenience, social impact and sustainability. Proterra Asia’s investments support the elevation of standards in the Asian food sector, build food infrastructure across Asia, provide access to more sustainable sources of protein, create jobs, and positively impact local communities such as smallholder farmers, with an investment philosophy that directly supports six of the United Nations’ Sustainable Development Goals.
The Proterra Asia Food Strategy is accessible to European investors via Proterra Asia’s distribution partnership with global investment management business Fidante Partners.
About Proterra Investment Partners Asia
Proterra Investment Partners is a leading alternative investment manager focused on investing in the global food and agriculture sectors. The Proterra Asia team has been making private equity investments in the Asian food sector for over a decade and operates out of its offices in Singapore and Shanghai.
For more information, visit: www.proterrapartners.com.
For Proterra Asia related media enquiries, contact Jack Roddan at Montfort Communications:
E: Roddan@montfort.london / T:+447825670695
OATSIDE’s mission is to provide a healthy, sustainable oat milk for people who don’t care for plant milks, by being incredibly delicious. As one of Asia’s only full-stack plant milk startups, OATSIDE is committed to delivering high quality oat milk from its state-of-the-art facility, ensuring that the process from oat to milk is sustainably sourced and unadulterated for your enjoyment.
For more information, visit www.oatside.com.
For OATSIDE specific media queries, please contact email@example.com.