Singapore-based Good Startup raises $34M fund to invest in alternative protein companies

·1 min read
Good Startup founders Gautam Godhwani and Jayesh Parekh
Good Startup founders Gautam Godhwani and Jayesh Parekh

Good Startup founders Gautam Godhwani and Jayesh Parekh

Good Startup, a Singapore-based venture capital firm focused on alternative protein, has closed its latest fund. Consisting of $34 million, the new fund, called Good Protein Fund I, included participation from Vinmar International founder and chairman Vijay Goradia; former head of finance and strategy for Fidelity Investments Harris Komishane; and INSEAD professor of entrepreneurship Bala Vissa.

Founded in 2021, Good Startup wants to remove animals from the global food system. It also invests in non-food startups: For example, companies that make alternatives to leather. So far, Good Startup has invested in 21 companies out of a target of 35 startups.

Good Startup managing partner Gautam Godhwani told TechCrunch that the firm invests primarily in early-stage companies, with an average check size of $500,000.

Some of its current portfolio companies include Avant Meats, which produces cultivated fish products and has operations in Singapore and Hong Kong; Nowadays, a producer of plant-based “clean-label” chicken; Mooji Meats, which is focused on 3D-printing capabilities to produce plant-based and cultivated meats; Rebellyous Foods, another plant-based chicken startup that Godhwani said achieves price parity with conventional chicken through a highly automated production process and is targeted at the food service sector; and VitroLabs, a lab-grown leather producer.

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