Good Startup, a Singapore-based venture capital firm focused on alternative proteins, has closed its latest fund. The new fund, called Good Protein Fund I, consisting of $34 million, included participation from Vinmar International founder and chairman, Vijay Goradia; former head of finance and strategy for Fidelity Investments Harris Komishane; and INSEAD Entrepreneurship Professor Bala Vissa.
Founded in 2021, Good Startup aims to remove animals from the global food system. It also invests in non-food startups: for example companies that make alternatives to leather. So far, Good Startup has invested in 21 companies from a target of 35 startups.
Good Startup management partner Gautam Godhwani told MovieUpdates that the company invests primarily in start-up companies, with an average check of $500,000.
Some of the current portfolio companies include Avant Meats, which produces farmed seafood products and has operations in Singapore and Hong Kong; Today a producer of vegetable “clean label” chicken; Mooji Meats, which focuses on 3D printing capabilities to produce plant-based and cultured meats; Rebellious Foods, another plant-based chicken startup that Godhwani said is reaching price parity with conventional chicken through a highly automated manufacturing process and targeting the foodservice sector; and VitroLabs, a lab-grown leather producer.