Next Gen Foods Appoints Two New Board Members, Jenny Lee of GGV Capital and Mathys Boeren of Temasek's Asia Sustainable Foods Platform

Jenny Lee and Mathys Boeren join Next Gen Foods' journey in making TiNDLE the leading global brand for plant-based chicken

SINGAPORE,May 10,2022 -- Next Gen Foods – the food tech company behindTiNDLE,the popular chicken made from plants – has appointed two new board members: Jenny Lee,Managing Partner at GGV Capital; and Mathys Boeren,CEO of the Asia Sustainable Foods Platform at Temasek Holdings.

Mathys Boeren,CEO of the Asia Sustainable Foods Platform at Temasek Holdings

Jenny Lee joins the board following an extensive career that started in aerospace as a fighter jet engineer and has spanned to venture capital across the globe. As Managing Partner at GGV Capital,Lee has been instrumental in guiding early-stage companies to their IPO listing,with 18unicorns under her belt. Lee is known for her startup innovation experience in EdTech,FinTech,Robotics/AI,EV,Web3 – as well as playing a key role within GGV with her sector focus on food tech and alternative proteins.

Lee has been consistently recognized by the Forbes Global 100 VC Midas list and was the first woman to break the Top 10 in 2015. She has been applauded for being one of the top venture capital investors worldwide,receiving recognition from Vanity Fair,The New York Times,Fast Company and Business Times. She graduated from Cornell University with an M.S. and a B.Sc. in Electrical Engineering and an M.B.A. from Kellogg School of Management,Northwestern University and currently is based in Singapore.

On the importance of sustainable food production,Lee said: "Food tech innovations and developments in alternative protein will help us drive sustainability and mitigate climate change. Agriculture,forestry and land use cause 7% of carbon dioxide emissions and 46% of methane emissions,much of which is driven by food production. Sustainable foods can help us address environmental concerns arising out of inefficient animal farming and food production."

"With the aim of delivering delicious plant-based foods,Next Gen's TiNDLE is a fantastic product that not only drives adoption of sustainable meat,but also offers an authentic chicken experience," added Lee.

Mathys Boeren is the CEO of Asia Sustainable Foods Platform,a company wholly owned by Temasek,that is addressing the challenges around scaling up production of alternative proteins and rapid growth of sustainable foods across the region. In his role at the Platform,Boeren adapts his passion for the sustainable food industry by counselling and overseeing the development of new products and commercial scale-up for startups in the food tech industry. In addition,he is responsible for both current and future joint ventures and partnerships.

Prior to joining the Platform,Boeren worked in the food and food ingredients industry for over 25 years,which included leadership positions at Kerry,Symrise,Givaudan and Unilever. More recently,he has also acted as an advisor to sustainable food startups,with a focus on consumer preferences and product development. Boeren graduated from Technische Universiteit Delft with a degree and master's in chemical engineering,and he currently resides in Singapore.

Boeren believes there is "booming" demand for sustainable foods,"An estimatedUS$1.55 trillion (S$2.09 trillion) of spending is needed by 2030 to meet food requirements in Asia,driven by changing consumer habits and demand for healthier and more sustainable foods." Boeren views TiNDLE as "an innovative product,delivering a tasty and sustainable meat experience that will help us meet this growing demand. I am excited to be a part of Next Gen and guide them through their journey of becoming a leading brand for plant-based foods."

Jenny Lee and Mathys Boeren join Next Gen Foods' existing board members,including:

Timo Recker (Co-Founder & Executive Chairman)

Andre Menezes (Co-Founder & CEO)

Rohit Bhattacharya (CFO)

Meng Xiong Kuok (Founder & Managing Partner,K3 Ventures)

Rachel Konrad (Chief Brand Officer,The Production Board)

Next Gen Foods Co-Founder and CEO Andre Menezes said,"We are always looking for strategic partners,board members and mentors who are motivated about transforming the food system and can guide us as we continue our rapid growth and market expansions. Both Mathys and Jenny's extensive global and regional experience in the food tech industry,and in helping startups to scale swiftly,is essential to Next Gen's vision of making delicious foods that ultimately impact the footprint that we have on this planet."

Rapid International Growth

In February 2022,Next Genannounced their record-breaking US$100 million Series A round,the largest Series A to date for a plant-based meat company.

New international investors included UK-based MPL Ventures,Southeast Asian venture capital firm,Alpha JWC; and Singapore-based global investment fund,EDBI. Joining from previous rounds were Temasek's Asia Sustainable Food Platform,GGV Capital,K3 Ventures and Bits x Bites. The total funding for the plant-based startup now exceeds US$130 million.

As a leading food startup,Next Gen Foods aims to make the global food system sustainable by making delicious,nutritious meat from plants. TiNDLE is the company's flagship product and the first chicken made from plants specifically created by chefs and for chefs. It contains no antibiotics,hormones,cholesterol or genetically modified ingredients.

TiNDLE made its global debut in Singapore in March 2021 and is now available in nearly 500 restaurants across Hong Kong,Macau,Malaysia,Amsterdam,Dubai,Abu Dhabi,United States and the United Kingdom.

On average,chicken made from plants uses less land,less water,and produces less CO₂ than chicken from birds. Based on a 2020 Blue Horizon report,choosing plant-based chicken over avian meat saves 82% less water,74% less land and 88% less greenhouse gas emissions.

About Next Gen Foods

Founded in 2020,Next Gen Foods is a food-tech startup developing and commercializing innovative and sustainable plant-based food products – including its flagship product,TiNDLE. Next Gen Foods is backed by a team with proven experience in plant-based food technology,global brand development,and global distribution scaleup. For more information,visitnextgenfoods.sg.

About TiNDLE

TiNDLE is a juicy,plant-based chicken that offers mouthwatering taste,texture,and versatility – and uses a fraction of the land,water and energy needed to produce meat from birds. Made with only nine simple ingredients,TiNDLE is the first product by Next Gen Foods,a Singapore-founded food tech company that is developing and commercializing innovative and sustainable foods. Available in restaurants globally,TiNDLE is the first chicken made from plants designed by chefs and for chefs and is a winner of the National Restaurant Association's2022 Food and Beverage Innovation (FABI) Awards. For more information,visit tindle.com or follow @tindlefoods on Instagram and @tindle.foods on TikTok.

Press Kit: www.nextgenfoods.sg/media

Jenny Lee,Managing Partner at GGV Capital