Get our best content directly in your inbox
Sign up
Agri food tech

Big Idea Ventures announces first round of New Protein Fund II

young woman with glasses smiling
2 min read
AUTHOR: Fiona Holland
group of six people looking towards camera, black baground

Image credits: Big Idea Ventures

Big Idea Ventures says it has raised the initial funds for its New Protein Fund II (NPF II), which will invest in and accelerate international early-stage alternative protein and ingredients companies.

The venture capital firm plans to hit a $75 million target for NPF II over the next 12 months. It says it now has over $100M assets under management.

Companies contributing to the new fund include fats and oils producer AAK and food processing solutions group Bühler, who both also backed Big Idea Ventures’ first fund, New Protein Fund I (NPF I).

As well as continuing to invest in innovative start-ups working with plant-based, cell-based and fermented alternative proteins, the firm says it plans to further expand its portfolio through NPF II by supporting companies who are building ‘alternative ingredients and impactful food.’

According to Big Idea Ventures, 88% of companies have successfully raised money following its investment. Successful start-ups in its portfolio include Black Sheep Foods, which secured $12.3 million in a Series A round last December to scale the production of its plant-based lamb in the United States, and Paris-based Gourmey which raised €48 million in funding in 2022 to develop its cultivated foie gras.

Founder and Managing General Partner at Big Idea Ventures, Andrew Ive commented on the new fund in a statement: “With NPF I, we found and worked with companies we believe will become leaders in the alternative protein category. NPF II enables us to bring even more innovators with fantastic innovations and teams in our portfolio. Our mission is to solve the world’s biggest challenges by supporting the world’s best entrepreneurs, scientists and engineers.”

Download Food Matters Live’s free Sustainability Digest


Related content