New Singapore/Hong Kong-based venture capital firm fully dedicated to alternative protein investments in Asia-Pacific Better Bite Ventures was launched with a fund of US$15 million.
The fund is backed by leading impact investors, growth-stage fund managers, family offices, as well as food and technology entrepreneurs from Asia, the US and Europe. It invests mainly in the creation, pre-seed and seed stages.
Founded by Michal Klar and Simon Newstead, two Asia-Pacific-based operators turned impact investors, Better Bite Ventures is an alternative protein fund dedicated to Asia-Pacific startups. It invests in technological fields such as:
- herbalusing plant-based ingredients to mimic the taste and texture of animal products
- Cellularproducing real animal products by culturing animal cells directly in a bioreactor, also known as cultured or cultured cell
- Precision fermentationengineering of specific microorganisms to produce real animal compounds
- Biomass fermentationusing natural high growth microorganisms as a direct source of protein
- Molecular farmingengineered factories to natively produce animal compounds, acting as a self-contained mini bioreactor
- Cellular farmingan umbrella term for alternative protein biotechnology approaches, covering cells, precision fermentation and molecular farming
The launch portfolio includes emerging leaders in plant, cell, precision and biomass fermentation and molecular farming from food technology hotspots in China, Singapore, Indonesia and Australia:
- blue canopya China-based developer of alternative consumer protein ingredients using biomass fermentation, co-founded by Chenfeng Lu and Juchuan Zhou
- CellXa Chinese cultured meat startup, co-founded by Ziliang Yang, Ning Xiang, Binlu Huang and Ran Liu
- Change foodfounded in Australia and reinventing cheese with precision fermentation technology, co-founded by David Bucca and Professor Junior Te’o
- Fable Food Coprocessing mushrooms into meat, co-founded by Michael Fox and Jim Fuller, headquartered in Australia
- Green Rebel Foodsthe first plant-based meat and dairy startup in Southeast Asia, co-founded by Helga Angelina and Max Mandias in Indonesia
- Me&addressing a large human milk and infant nutrition market with cellular technology, co-founded by Esha Saxena and Luis Malaver-Ortega in Australia
- Meatdeveloping cultured poultry from Singapore, co-founded by Elwin Tan, Jason Chua, Benjamin Chua and Professor Teh Bin Tean
- Next Generation Foodsplant-based chicken makers TiNDLE, co-founded by Singapore-based Timo Recker and Andre Menezes
- Umami meatsaddressing seafood sustainability issues by developing cell-cultured fish, founded by Mihir Pershad in Singapore, and
- a stealth molecular farming startup
The team also includes Sonalie Figueiras, Venture Capital Partner, Founder of Green Queen Media, an impact media platform and SourceGreenPackaging, a global marketplace for sustainable packaging.