Good Startup, a Singapore-based venture capital firm focusing on sustainable and meat alternative space, has successfully raised US$25 million following the first close of its Good Protein Fund I.
Investors include prominent individual investors like Anil Thadani, Chairman of Symphony Asia amongst others.
The fund will invest in 32 alternative protein companies globally, with 80% allocated to early-stage investments and 20% to late-stage companies. So far, it has invested in 6 startups that include Eat Just, TurtleTree Labs, Avant Meats, Rebellyous Foods, Cultured Decadence and Novel Farms.
Good Protein Fund I will work with companies in a range of operational areas including intellectual property protection, organisation design, scaling up, hiring, and fundraising strategies.
Good Startup said sustainable innovation must happen in the global food ecosystem. Besides feeding the world’s estimated 10 billion population by 2050 with a 70% increase in protein demand, stakeholders must also use methods that are less environmentally demanding.