Synthesis Capital launches the world’s largest dedicated food tech venture capital fund
LONDON–(BUSINESS WIRE)–Synthesis Capital (“Synthesis”), a leading global investor in food technologies and alternative proteins, today announces Synthesis Capital Fund I (“Fund”). With over $300 million in assets under management, Synthesis is now the largest fund ever raised for the industry.
With this new capital injection, Synthesis will catalyze and support the next generation of innovative companies across the entire food value chain. The oversubscribed fund is anchored by private equity pioneer Jeremy Coller, through CPT Capital, with a fundamental investment from Societe Familiale d’Investissements. The Fund has also received significant commitments from Nuveen (a TIAA company), Credit Suisse Climate Innovation Fund, Sir Ronald Cohen through Dynamic Loop Capital, DisruptAD (the ADQ’s venture capital platform), The Nest , Heyi Holdings, Sainsbury’s Family Associated Trusts, Interogo Holding (advised by IH International Advisors), WTT Investment Ltd (Tsai Family Office) and CIFF, among others.
This announcement coincides with the greatest crisis in the global food system, but also with the greatest potential for its reinvention. Today’s unsustainable, animal-dependent food industry poses vast challenges, further amplified by the global pandemic, the effects of climate change and the rising cost of living. In addition, collateral disruptions resulting from the current conflict in Ukraine inevitably lead to further increases in food prices. The need for transformation of the food system is therefore more critical than ever. With recent technological breakthroughs, the food industry is now at an inflection point offering the potential to redefine our food system and sustainably feed the world.
The Synthesis team brings a proven track record of supporting and growing some of the best-known food tech start-ups and scale-ups since the sector was born in 2014. With a deep understanding of the industry , Synthesis is well positioned to identify and invest in companies with the greatest potential to build the future of food. The fund will invest globally and targets investments in around 15 companies, with an average check size of $15 million.
Today’s announcement follows a series of successful investments already made by the Fund in highly sought-after and oversubscribed seed rounds in existing industry leaders, as well as promising emerging food companies in verticals. alternative protein technologies. Portfolio companies to date include Upside Foods (formerly known as Memphis Meats), the cultured meat technology leader; Perfect Day, the first company to market dairy ice cream produced by precision, cow-free fermentation; and Redefine Meat, a plant-based pioneer that has developed proprietary and scalable 3D printing technology to create whole cuts, including steaks. In addition to these alternative protein category leaders, Synthesis is also investing in enabling platforms and technologies with catalytic potential to be applied across the industry. Culture Biosciences, a “biomanufacturing as a service” platform, for example, allows customers to outsource R&D and scale using their low-cost, scalable bioreactor farms.
Costa Yiannoulis, managing partner and co-founder of Synthesis Capital, said“At Synthesis, we support founders and companies with strong technical foundations and scaling potential. In order to transform our food system to feed 10 billion people by 2050, within planetary boundaries, these new food technologies and platforms are imperative. I’m very excited about the level of interest we’ve received from investor partners in our fund, their strong belief in our thesis, and the sheer potential for growth in the alternative protein space in the decades to come. . We already have investments in a number of game-changing companies under our belt and are well positioned, relatively early in our Synthesis Fund rollout, to take advantage of the recent tech market price correction, to support unicorns of tomorrow’s food system. »
Rosie Wardle, Partner and Co-Founder of Synthesis Capital, said: “We are now at an inflection point in the industry where true innovation is being felt in the food system, driven by a confluence of factors including financial market readiness, prioritization of sustainability and climate goals through governments and corporations, and consumer choice moving towards healthier, animal-free foods. With extensive experience in this sector, we are ready to seize this important investment opportunity and are convinced that alternative proteins will no longer be considered as “alternatives” in the near future. We are extremely grateful for the support of our investment partners who share our belief in the significant potential of harnessing alternative protein technologies and platforms to transform our struggling and outdated food system.
David Welch, Chief Scientific Officer and Co-Founder of Synthesis Capital, added“At Synthesis, we believe that technology is central to how we solve the enormous challenges that exist within our global food system. But traditional food technology alone cannot create better versions of the meat, eggs and dairy that consumers will want to eat. The paradigm shift we are currently witnessing is that companies are combining the best of food technology and modern biotechnology in new and innovative ways. This convergence of synthetic biology, tissue engineering, 3D printing, food chemistry and other enabling technologies will allow us to transform plants, microorganisms and animal cells into nutritious, scalable and that taste good, are competitively priced and are accessible to everyone. everything.”
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Notes to Editor/General Information:
About Synthesis Capital:
Synthesis Capital is a global investor in food technologies and alternative proteins with operations in the UK, US and Guernsey. The company’s founding team has been investing in industry-leading companies since its emergence in 2014, developing deep expertise in the core technologies that will form our future food system.
With exclusive access to key established industry players and the next wave of high-potential companies transforming the food system, Synthesis Capital Fund investments to date include Upside Foods, Perfect Day, Redefine Meat, Culture Biosciences, and Arkeon Biotechnologies.
For more information, visit https://synthesis.capital/