Singapore-based, Good Startup, a venture capital firm, raised USD 25 Million in the Good Protein Fund I, as it calls the round. It is a Venture Capital fund that intends to invest in startups focusing on finding protein alternatives in Southeast Asia.
This funding round was led by, chairman of Symphony Asia Holdings, Anil Thandani; chairman of Kim Seng Holdings, Tan Kim, and an association of senior partners from three leading consulting companies, participating as angel investors.
About Good Startup –
Good Startup is based in Singapore, it intends to find ways to eliminate the use of animals in the food system. It also aims to back up companies that are on the way to come up with an alternative of protein to build a sustainable food ecosystem.
The company focuses on the Southeast Asian market, and it is tapping into a sector in which the demand for alternative protein is growing. The company has received its VC Fund Management license from the Monetary Authority of Singapore (MAS) in Singapore to strengthen its footprint and its mission in the market.
Words from the managing partners –
In a press release, the managing partner of Good Startup Gautam Godhwani, explained their motive: “For years, food ecosystem stakeholders had to balance the need to meet food security needs while also balancing the toll that animal food production takes on our world. Yet, the growing role of the biotechnology sector in producing alternative proteins can give us the same food we enjoy with less impact on our environment. This can only be achieved by supporting biotech food companies to scale globally, especially in markets that still depend heavily on meat.”
“The growing role of the biotech sector in producing alt proteins can give us the same food we enjoy with less impact on our environment. This can only be achieved by supporting biotech food companies to scale globally, especially in markets that still depend heavily on meat,” – he added.
Another managing partner of Good Startup. Jayesh Parekh said that the next-generation companies are responsible for the food system in future. “In order for them to meet their sustainable food production goals, they require investors and partners that can guide them throughout their journey. Being a cross-border fund that invests in alternative protein companies globally, we are especially excited about the alternative protein ecosystem’s potential in rapidly emerging markets like Southeast Asia. It is where we currently have a rich pipeline of deals that we are actively working on and expect to make announcements soon.”
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