Good start, a Singapore-based venture capital firm focused on alternative proteins, has closed its latest fund. The new fund, called Good Protein Fund I, comprised $34 million and included participation from Vinmar International founder and chairman Vijay Goradia; former Chief Financial Officer and Strategy Officer of Fidelity Investments Harris Komishane; and INSEAD Professor of Entrepreneurship Bala Vissa.
Founded in 2021, Good Startup aims to remove animals from the global food system. It also invests in non-food startups: companies that make alternatives to leather, for example. To date, Good Startup has invested in 21 companies out of a total of 35 startups.
Good Startup managing partner Gautam Godhwani told TechCrunch that the company invests primarily in early-stage companies, with an average check size of $500,000.
Some of the current portfolio companies include Avant meatwhich manufactures cultured fish products and has offices in Singapore and Hong Kong; Nowadaysa producer of plant-based, clean-label chicken; Mooji Meatwhich focuses on 3D printing capabilities to produce plant-based and cultured meat; Rebellious Foods, another plant-based chicken startup that Godhwani says will achieve price parity with conventional chicken through a highly automated production process and is aimed at the foodservice sector; and VitroLabsa lab-bred leather producer.
Singapore-based Good Startup raises $34M fund to invest in alternative protein companies – TechCrunch Source link Singapore-based Good Startup raises $34M fund to invest in alternative protein companies – TechCrunch