Good Startup, a Singapore-based venture capital firm focused on alternative proteins, has closed its latest fund. Made up of $34 million, the new fund, called Good Protein Fund I, included the participation of the founder and president of Vinmar International, Vijay Goradia; former head of finance and strategy at Fidelity Investments Harris Komishane; and INSEAD entrepreneurship professor Bala Vissa.
Founded in 2021, Good Startup wants to remove animals from the global food system. It also invests in new non-food companies: for example, companies that make alternatives to leather. So far, Good Startup has invested in 21 companies out of a target of 35 startups.
Good Startup managing partner Gautam Godhwani told TechCrunch that the company invests mostly in early-stage companies, with an average paycheck of $500,000.
Some of its current portfolio companies include Avant Meats, which produces farmed fish products and has operations in Singapore and Hong Kong; Today, a plant-based “clean label” chicken producer; Mooji Meats, which focuses on 3D printing capabilities to produce cultured and plant-based meats; Rebellyous Foods, another plant-based chicken startup that Godhwani says achieves price parity with conventional chicken through a highly automated production process and targets the foodservice sector; and VitroLabs, a producer of lab-grown leather.