Agrifood Tech | July 23, 2021

Deaflow spotlight: Agrifood megadeals

Dennis Price
ImpactAlpha Editor

Dennis Price

ImpactAlpha, July 23 – Breakthrough biotech research is driving eight- and nine-digit investments in alternatives to high-carbon food production.

Plant-based cheesemaker Nobell Foods, an early portfolio company of Fifty Years VC, came out of stealth mode with a $75 million round led by Breakthrough Energy Ventures. Also participating: A16z, Chinese private equity giant Hillhouse Capital Group and Robert Downey Jr.’s Footprint Coalition.

Breakthrough and Generation Investment Management, among others, participated in Berkeley, Calif.-based biotech company Pivot Bio’s $430 million raise (led by DCVC and Temasek) to replace synthetic nitrogen in agriculture; and in fungi-based protein company Nature’s Fynd $350 mil­lion round (led by SoftBank).