Alternative protein fund Lever VC hits final close of Fund I at $80m

Illustration/Photo: Internet Archive

Alternative protein venture capital (VC) fund Lever VC on Wednesday announced that it has hit the final close of Lever VC Fund I at $80 million to back early-stage, plant-based cultivated meat and dairy firms worldwide.

Lever VC Fund I, by and large, exceeded the initial fundraising target of $50 million when it secured its first close at $23 million in August 2020.

The new fund roped in various global limited partners (LPs), including meat companies, ingredient and food commodities firms, agrifeed businesses, family offices, and a fermentation firm in Europe, said Lever VC in a statement. The firm, however, did not name the LPs of Fund I.

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