Alternative protein venture capital fund Lever VC has announced the completion of its $80 million Lever VC Fund I, as it looks to support plant-based and cultivated meat and dairy start-ups.
According to Lever VC, the fund includes backers from all around the globe, including the world’s largest meat companies, as well as the world’s largest ingredient and food commodities, fermentation and AgriFeed firms.
The fund has already built a portfolio of 19 alternative protein companies coming from across the US, Europe, Asia and Latin America, which includes TurtleTree Labs, Better Meat Co, and others.
“We’re pleased with the strong growth in value, sales and technology of our current portfolio, and we’ll continue to invest in more stellar companies over the next year,” said Lever VC’s managing partner, Nick Cooney.
He continued: “We’re grateful to be partnered with some of the biggest food companies from the US, Europe, China and Southeast Asia, as well as value-add family offices. We also look forward to beginning the raise of Lever VC Fund II early next year on the back of large pre-commitments from existing LPs and strong interest from institutional investors.”
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