Dutch feed giant Nutreco has promoted Erik Tveteraas as its new director of the company's investment division, Nutreco told IntraFish.

Tveteraas will head up Nutreco's investment arm, NuFrontiers, where he was previously investment director.

The feed group's investment arm was most recently led by Joost Matthijssen, who moved to the new role as chief strategy officer last month following the departure of Laurent Genet.

NuFrontiers, which was created in 2017, has a portfolio of 14 companies and has so far made one exit, and typically makes two to three investments per year.

Last year, it invested in Norwegian land-based salmon company Andfjord Salmon, Scotland-based Roslin Technologies and acquired a majority stake in India-based shrimp group Eruvaka after having been a minority investor since 2018.