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Lever VC, a leading global alternative protein venture capital fund whose partners were early investors in Beyond Meat and Impossible Foods, and Brinc, a global venture accelerator firm, announces today the launch of a joint investment fund and accelerator to support plant-based, cell-cultivated meat and dairy companies across China. The fund is supported by Lever Foods, a Shanghai-based consultancy that advises on the alternative protein space.Corporate partners include the venture capital arms of food and beverage leaders COFCO and Yili, national industry trade group the China Plant-Based Foods Alliance, and top global alternative protein ingredient and services companies Givaudan, Cremer, and others.<\/p>\n
The Lever China Alternative Protein Fund will invest 40 million RMB over the next four years in entrepreneurs and early stage alternative protein companies focusing on the burgeoning mainland Chinese market, with Brinc providing a comprehensive three-month accelerator program on a rolling basis for interested portfolio companies at their new 3,500 sqm space in Guangzhou. Up to 160 million RMB is available in potential follow-on funding from the Lever VC Fund, for a total available investment pool of 200 million RMB.<\/p>\n
“With the right backing and support, alternative meat startups can bring forth fundamental and lasting change to our global food system.\u201d<\/em> said Manav Gupta, CEO of Brinc.<\/p>\n Lever VC Partners, Lawrence Chu and Nick Cooney, were early investors in Beyond Meat, Impossible Foods, Memphis Meats, JUST, and other leading plant-based, cell cultivated meat and dairy companies. Lever VC, headquartered in Hong Kong, was the first non-mainland VC fund to invest in alternative proteins startups in the mainland, and the first to invest in cell-cultivated meat in China.<\/p>\n