Singapore-based Good Startup raises $34 million to invest in alternative protein companies – TechCrunch
Good Startup, a Singapore-based venture capital firm focused on alternative protein, has closed its latest fund. The new fund, called Good Protein Fund I, consists of $34 million and includes participation from Vinmar International founder and CEO Vijay Goradia; former CFO and Strategy for Fidelity Investments Harris Komishane; and Professor of Entrepreneurship at INSEAD Bala Visa.
Founded in 2021, Good Startup wants to remove animals from the global food system. It also invests in non-food startups: for example, companies that manufacture alternatives to leather. To date, Good Startup has invested in 21 of the targeted 35 startup companies.
Gautam Godhwani, managing partner of Good Startup, told TechCrunch that the company invests primarily in early-stage companies, with an average check size of $500,000.
Some of its current portfolio companies include Avant Meats, which produces farmed fish products with operations in Singapore and Hong Kong. Nowadays, a “clean” chicken product is from plants; Mooji Meats, which focuses on 3D printing capabilities for the production of plant-based and farmed meat; Rebellyous Foods, another plant-based chicken start-up, which Godwani said is achieving price parity with conventional chicken through a highly automated production process targeting the food service sector; and VitroLabs, a lab skins product.