Casa Mendes Gonçalves, owner of the Paladin seasoning brand, Portugal Ventures, a venture capital company from the Banco Português de Fomento group, established a partnership to create innovation opportunities with the aim of transforming food raw materials.

The company joins the network of more than 100 Ignition Partners of that financial entity and collaborates with startups in the portfolio to develop new products or production methods.

Founded in 1982 and headquartered in Golegã, it is dedicated to the production of vinegars, sauces and seasonings, being one of the Portuguese food raw materials processing industries most sought after by the main distribution brands around the world. It has a team of around 350 workers from more than 20 nationalities.

Portugal Ventures has 157 companies in its portfolio from different sectors of activity, some of which are in the areas of “agrotech” and “food processing”, with 269.1 million euros under management.

“Working for the food of the future is the objective”, says Carlos Gonçalves, CEO of Casa Mendes Gonçalves, quoted in a statement. “In this way, we combine the know-how acquired over 41 years with the capacity, enthusiasm and knowledge of the creators and founders of startups, with the mutual advantages that arise from this being obvious, always evolving together”, highlights the industrialist.

Teresa Fiúza, vice-president of Portugal Ventures, highlights, also cited in a statement, the advantages of this partnership: “By joining our network of corporate partners, Casa Mendes Gonçalves will have the opportunity to collaborate with the startups in our portfolio to leverage innovation , research and development of new products and/or other methodologies/production automation, being able to benefit from beta-testing, proof of concept and also the promotion of commercial networks and investment opportunities”.