◥ GOOD STARTUP ANNOUNCES CLOSE OF GOOD PROTEIN FUND I

Following an oversubscribed round, the Singapore-based venture capital firm is pleased to announce the final close of Good Protein Fund I with nearly US$34 million in commitments. The funds will be used to invest in innovative companies within the global alternative protein ecosystem  

SINGAPORE, 12 May 2022 – Good Startup, a Singapore-based venture capital firm focused on the innovation and growth of the alternative protein sector, has closed its Good Protein Fund I at US$34 million, following the firm’s latest oversubscribed round.  

A cross-border, multi-stage fund, Good Protein Fund I saw participation from notable investors including Vijay Goradia, Founder and Chairman of Vinmar International; Harris Komishane, former Head of Finance and Strategy for Fidelity Investments; and Professor Bala Vissa, INSEAD Professor of Entrepreneurship. Through Good Protein Fund I, Good Startup has already invested in a variety of alternative protein startups around the world, including Eat Just, The EVERY Company, SuperMeat, VitroLabs, TurtleTree and many others.   

Jayesh Parekh, Managing Partner of Good Startup, said, “The strong interest we’ve seen is a testament to the investor confidence in our mission – a commitment that will help drive further growth in alternative protein innovation. We will continue to support companies that share our vision in using science and technology to create food that is not only healthy and tasty, but also enables a sustainable and environmentally friendly food system.”   

Over the past year, alternative protein companies have received increased attention from investors as the industry continues to enjoy greater consumer demand for healthier and environmentally sustainable proteins. A recent study projected a 25 per cent rise in alternative protein consumption, equivalent to approximately US$1.7 billion for plant-based meat alternatives across the Asia Pacific region by 20251. Investments in the region’s alternative protein sector are projected to increase at an accelerated pace relative to other regions.2. 

“With an increasing global population and a higher level of affluence, we will see a protein shortage by 2050. Technological innovation can drive a new generation of food production that provides sustainable nourishment to the planet. The funding support from our latest round empowers us to continue our work at a greater scale. We are now in a stronger position to ramp up our stakeholder engagements and facilitate deeper ecosystem connections in strategic cross border corridors, such as those between Asia and North America,” said Gautam Godhwani, Managing Partner of Good Startup. 

Aside from funding, Good Startup will actively work with its portfolio companies across a range of operational areas, including IP protection, organisation design, hiring and fundraising strategy. To date, Good Startup has already invested in 21 companies out of a target of 35 companies. 

Founded in 2021, Good Startup’s mission is to remove animals from the global food system. Led by General Partners with strong expertise in entrepreneurship and impact investing, the venture capital firm is looking for innovators who are building the next generation of food companies focused on alternative proteins, whether they are produced from plants, grown from animal cells, or created using microbial organisms. 

For more information, visit www.goodstartup.com. 

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About Good Startup

Good Startup is a venture capital firm with a mission to remove animals from the food system. Led by a team of globally experienced entrepreneurial and impact investment experts, the firm manages Good Protein Fund I, which invests in alternative protein companies seeking to create a sustainable future for all by using biotechnology to solve food challenges while leaving a minimal environmental footprint.  

Serving as a bridge between growing alternative protein ecosystems in North America and Asia, Good Startup has invested in a variety of global alternative protein startups around the world which include Eat Just, The EVERY Company, SuperMeat, VitroLabs and TurtleTree. The firm is a Venture Capital Fund Management (VCFM) entity licensed by the Monetary Authority of Singapore (MAS).