VC firm Good Startup hits US$34m in final close of alternative protein fund
Megan Cheah
SINGAPORE-BASED venture capital (VC) firm Good Startup, which focuses on growing the alternative protein scene, on Thursday (May 12) announced the final close of Good Protein Fund I at US$34 million.
The fund saw participation from investors including Vinmar International founder and chairman Vijay Goradia, former Fidelity Investments head of finance and strategy Harris Komishane, and Professor Bala Vissa, an INSEAD professor of entrepreneurship.
The VC firm noted the funds will be used to invest in alternative protein companies using biotechnology to solve food challenges, while leaving a minimal environmental footprint, under its goal to remove animals from the food system.
Since its launch in 2021, Good Startup has already invested in 21 startups out of a target 35 companies globally, including Eat Just, Every Company, SuperMeat and TurtleTree.
Alongside funding, the VC firm aims to support its portfolio companies in operational areas such as intellectual property protection, organisation design, hiring and fundraising strategy.
Gautam Godhwani, managing partner, Good Startup, said: “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.”
The VC firm had previously raised US$25 million during the first close of the Good Protein Fund I in June 2021.
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