Singapore based VC firm Good Startup raises $34M fund to invest in alternative protein companies
- ByStartupStory | May 12, 2022
Good Startup, a Singapore-based alternative protein project finance business, has concluded its latest investment. The latest fund, named Good Protein Fund I, has raised $34 million and included chairman Vijay Goradia, International Founder Vinmar, former Fidelity Investments head of finance and strategy Harris Komishane, and INSEAD professor of entrepreneurship Bala Vissa.
Good Startup, which was founded in 2021, aims to eliminate animals from the world food supply. It also funds non-food entrepreneurs, such as those that create leather substitutes. Good Startup so far has financed 21 firms out of a total of 35.
According to Good Startup business partner Gautam Godhwani, the business focuses on early-stage firms, which have an appropriate check size of $500,000.
Avant Meats, which makes cultured fish products and also expanded its operations in Hongkong and Singapore, is one of its current portfolio firms. Currently, a plant-based “clean-label” chicken producer; Mooji Meats, which tends to focus on 3D printing capabilities to produce cultivated and plant-based meats; Rebellyous Foods, a plant-based chicken startup that Godhwani says achieves price parity with standard chicken through a fully automated production and is aimed at the foodservice sector; and VitroLabs, an experiment of producing leather.
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