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Lever VC raises $23M to invest in early-stage alternative protein companies

Lever VC raises $23M

Field Notes, powered by KPMG, is a weekly news update on news nationally and globally from the agri-food sector.

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Ian Proudfoot

Global Head of Agribusiness, Partner - Audit

KPMG in New Zealand

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[20 August, Food Dive]

Alternative protein venture capital fund, Lever VC, has raised its first fund of $23 million, which will be used to target early stage plant/cell-based protein and alternative dairy companies for investment. The Spoon reported that Lever VC plans to make 20-25 investments with its new fund and it has already invested roughly $5 million in 10 companies. A study suggested growing consumer interest in the plant-based food during the pandemic, which outpaced general food sales growth by 35% according to SPINS statistics for the 16 weeks ended April 19 this year.

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