Cars replaced horses, petroleum replaced whales, tractors replaced oxen, telecommunications replaced carrier pigeons, fermentation replaced cows and pigs for insulin production. And despite its many shortcomings, plastic continues to take market share from leather. Wherever we look, humans have consistently built technologies that surpass their animal predecessors. Food may be next.
All over the world, entrepreneurs are reinventing how we make products we’ve traditionally derived from animals, and startups like Beyond Meat and Impossible Foods are only the beginning. Applying the latest technologies from biotech, tissue engineering, artificial intelligence, and food science, entrepreneurs are trying to create new animal-free products that are cheaper, healthier, tastier, and more sustainable. Even if they’re moderately successful, they’ll have an opportunity to capture a meaningful portion of the $2.9 trillion dollar animal products market. Opportunities don’t come much bigger than that. As venture capitalists, this is hard to ignore.
We established AgFunder's New Carnivore fund to invest in startups working to create non-animal based protein alternatives including plant-based meat alternatives, cellular agriculture, and the picks and shovels technologies required to enable this emerging industry.
Read our investment thesis, Why technology may make animals obsolete on AgFunderNews.
$2.96 trillion market for animal products, with alternative protein expected to capture 5-10% by 2025.
Dedicated fund to invest in ~20 startups (pre-Seed to pre-IPO) globally that are pioneering the alternative protein sector.
$20 million fund with up to 50% reserved for follow on. 10-year fund life.
Founded in 2013 and based in Silicon Valley, AgFunder is one of the most active foodtech and agtech VCs globally. We've coinvested with Andreessen Horowitz, Bessemer, Data Collective, Foundation, Horizons Ventures, Index, Sequoia and others, and our first funds are tracking 20%+ IRR. Our investment team has deep technical capabilities including two biology PhDs from Yale and Stanford. Our media publication AgFunder News is a cornerstone of the industry with over 85k subscribers giving us a global network and visibility.
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