Proterra Investment Partners Asia, a Singapore-based private equity fund manager focused on the Asian food sector, has made its largest investment to date in Lanna Agro Industry Co, Ltd ( Laco ), Thailand’s leading producer and exporter of frozen edamame. Details of the financial terms were not disclosed.

Based in Chiang Mai and founded over 30 years ago, Laco has built a reputation for high-quality production, sustainable farming practices, and long-standing relationships with contract farmers in Northern Thailand.

Its scale and rigorous quality standards have secured trusted partnerships with premium customers in Japan and the United States, positioning Thailand as a key origin country in the global frozen edamame market, Proterra says.

Following the investment, made through its Proterra Asia Food Fund 3 ( PAFF3 ), Proterra has appointed a new leadership team to oversee the company’s strategy and operations. Khun Apirak Kosayodhin has been appointed as chief executive officer and Rojcharek Ruechai as chief financial officer.

The changes support a planned transition, enabling the founding family to step back from day-to-day management while continuing to advise the business to ensure a smooth transition. The new team will lead a growth plan focused on expanding into new international markets and strengthening the company’s position in Japan.

Expansion plans

“This investment reflects our strategy of backing trusted operators across Asia’s food value chain who are positioned for long-term growth," says Proterra Asia managing partner Tai Lin.

"We’re looking forward to working with the new leadership team and the founding family to grow Laco’s international presence and deepen its positive impact across the supply chain."

Proterra will support Laco’s expansion into Europe and North America, markets experiencing growing demand for healthy snacks and plant-based foods.

Laco’s supply chain also offers social and environmental benefits, partnering with thousands of contract farming households across Northern Thailand, to provide a stable and significantly more profitable alternative to traditional crops such as rice.

In addition to expanding this network of contract farmers, Proterra plans to introduce and track additional environmental, social and governance ( ESG ) targets as part of its long-term value creation strategy.

This marks the 13th investment from PAFF3, following recent investments in Health Lab ( Australia ), Meatbox ( South Korea ), and Silk ( China ).