The Good Food Fund
Fund manager - Ascension Ventures
The Good Food Fund is a pilot fund that aims to create and scale new healthier mass-market products.
- 33% Percentage of children that are obese in the most deprived areas of England
- 10% Percentage of children that are obese in the least deprived areas of England
- 26000 Number of children aged 10-11 in England that are severely obese and in need of medical help
Challenge
Childhood obesity and deprivation go hand in hand. The diets of children living in low-income households are significantly less healthy and nutritious than those in higher-income homes. As a result three in ten children in deprived areas are obese according to research (Guy’s and St Thomas’ Charity). While the cost of food is a factor, so is availability. People in low-income areas have more unhealthy food options on their doorstep, with less money to find healthy alternatives.
Approach
In March 2020, together with Guy’s and St Thomas’ Charity, we launched a pilot £1.8m investment fund - called the Good Food Fund, to create and scale new healthier mass-market products. The Fund, managed by Ascension Ventures, invests in and supports challenger brands while exploring potential innovations through existing retailers. While there are many barriers to developing healthier products, there’s also unmet demand for healthier food that is affordable, convenient, and tasty.
Impact
The Fund aims to accelerate a change in purchasing habits by improving access to healthier, affordable food, eventually lowering childhood obesity rates. While the initiative has only just begun, its associated venture accelerator, managed by Mission Ventures, has already chosen its first seven snack brands to take on unhealthy products and we will be tracking progress.