Li Ka-shing joins Bill Gates to fund probiotic product to fight child malnutrition
Horizons Ventures, the investment arm of Li Ka-shing’sphilanthropy foundation, and Bill & Melinda Gates Foundation lead US$40m funding for California-based Evolve BioSystems
Tycoon Li Ka-shing has joined US billionaire Bill Gates to lead a third round of private fundraising for a product that helps prevent infant malnutrition – the latest example of an emerging trend in Asia of investments that seek to bring both returns and positive social impact.
The Bill & Melinda Gates Foundation and Horizons Ventures, the investment arm of Li Ka Shing Foundation recently completed a US$40 million Series C round of funding for Evolve BioSystems.
California-based Evolve is developing an infant probiotic product called Evivo for the global market.
Evivo is an activated form of Bifidobacterium longum, which has been clinically proven to restore the beneficial bacteria in infants’ guts.
This particular bacteria, key to proper functioning of the body’s digestive and immune systems, is known to reduce other bacteria that potentially cause diseases by 80 per cent, according to Evolve.
Its deficiency could be unintentional consequences of caesarean section births, antibiotic usage, and formula feeding, which make it increasingly unlikely that today’s mothers have this beneficial bacteria to pass along to their babies.