We have just opened our $20m New Carnivore Fund to investors. The fund will invest in alternative protein startups including plant-based alternatives, cellular agriculture, and the picks-and-shovels that will enable the industry. We’ll invest between pre-Seed and pre-IPO stages.
Why invest in alt protein?
Meat is a $1.5 trillion dollar market, with alternative protein expected to capture 10% by 2030. This creates the potential for multiple, multi-billion dollar startups. Just as the car replaced the horse and petroleum replaced the whale, new plant-based solutions and cellular agriculture may replace vast portions of the animal agriculture industry. We created the New Carnivore Fund to invest in startups that are looking to capture this opportunity (For more on our investment thesis, read our founding partner Rob Leclerc’s editorial here.)
Founded in 2013, AgFunder’s one of the most active foodtech and agtech VCs globally with over 26 investments in the past 24 months. Co-investors in our deals have included 8VC, Andreessen Horowitz, Data Collective, Felicis Ventures, True Ventures, TPG and more. Our investment team has two biology PhDs from Yale and Stanford, and we have over six years of experience covering the alt protein industry (see our interview with Josh Tetrick back in 2014). With over 75k subscribers, AgFunder has become a globally recognized and respected brand amongst entrepreneurs, investors, and corporate executives which puts us in a unique position to source opportunities and support our portfolio companies.
How it Works
The investment period opens now and the first close for investors investing less than $1M will run until December 15. Investors investing $1M+ will have until the second close in the spring, assuming there is allocation remaining. The minimum investment for corporations is $5M.
Any questions? Email founding partner Rob Leclerc on email@example.com
Under today's unique circumstances, AgFunder is re-opening Fund III for a limited time to enable investors to join our mission and invest alongside us as LPs in a second close. Learn more here.