A new match in alternative protein investing has been made:
Lever VC (NYC & Hong Kong) + Brinc (Hong Kong)
What We Know: Lever VC has raised $28.3 million in capital to deploy across plant-based, cell-cultivated meat and dairy companies throughout China. According to Brinc Founder & CEO, Manav Gupta, “Lever VC will run due diligence on high-potential plant based startups. Once investments are made, Brinc will leverage its expertise in the market to support these startups to take advantage of opportunities in China.”
- Strategic investors include: Venture capital arms of COFCO and Yili, national industry trade group the China Plant-Based Foods Alliance, Givaudan, Cremer, and others. https://cellbased.link/911ac
This isn’t the first VC collab we have seen with intentions of investing in Chinese alt-protein:
- → New Crop Capital (NYC) + DAO Foods (China) — investment partnership to introduce new plant-based meat and alternative protein products in China
In other News Across Asia
South Korea: Noah Biotech, an agro biotech venture capital company and a genomics company Eone Diagnomics Genome Center (EDGC) signed a joint agreement to develop technologies for the commercial production of clean meat using 3D printing technology. https://cellbased.link/ee628
- The collaboration will focus on development of:
- A technique for developing differentiation protocols for biomaterials containing muscle and fat cells from cows;
- A 3D printer to make a three-dimensional culture at high speed.
- Why We Care: This is the first company in South Korea to work on cultured meat and EDGC is a Life Sciences leader in genomics providing insight into the synergies between cultured meat and the pharmaceutical, medical equipment, and reagent businesses.
Singapore: Cell based milk company Turtle Tree Labs raised US$3.2 million in funding to accelerate production of milk from mammary gland stem cells. This news comes shortly after US company BIOMILQ raised $3.5 million to execute on the same concept of cell cultured breast milk. https://cellbased.link/bd397
- Turtle Tree Labs investors include Green Monday Ventures, KBW Ventures, CPT Capital, and Artesian New Luna Ventures. The aforementioned Lever VC was a pre-seed investor in the company as well.
- I spoke to the team at Turtle Tree Labs to gain a bit more insight into their proprietary process:
- Mammary stem cells are sourced from milk and “a few other sources”
- They enable mammary stem cells to lactate through synthesis of a custom lactation media which will not be not be purified from the proteins that are secreted by the stem cells.
- The end goal is for Turtle Tree to create a whole milk protein containing all proteins and compounds in breast milk. The company was unclear as to whether they have been able to achieve this lofty goal.
Singapore: Shiok Meats raised bridge funding of $3 million ahead of a larger Series A ($15 Million) coming by the end of this year. Investors include Agronomics, US-based slaughter-free investment firm VegInvest, London angel fund Impact Venture and UAE’s female-led Mindshift Capital Fund. https://cellbased.link/9d1fcplant-based alternative protein plant based cultured meat cultivated meat agronomics biomilq turtle tree labs turtle tree meat milk protein cultured 3d printing veginvest lever vc green monday ventures investing investors vc venture capital funding fund investment green monday