ImpactAlpha, November 19 – Private investors have been pouring capital into the “alternative meat” sector. Beyond Meat, known for its “bloody” vegetarian burger, will test the public market. Now, the California-based firm will list on Nasdaq as BYND, according to its federal filing.
California-based Beyond Meat, which launched in 2009, is known for its “bloody” vegetarian burger. The firm has developed a presence in supermarkets like Whole Foods and has raised more than $100 million from celebrities like Bill Gates and Leonardo DiCaprio, McDonald’s former CEO, and mainstream meat companies like Tyson Foods. Obvious Ventures owns a 10% stake.
Beyond Meat’s foray into the public markets marks a progression in the sustainable protein sector. Its planned IPO is modest—only $100 million, Forbes reports. There are “vegan friendly” public stocks, but “meatless meat” rivals like Impossible Foods, which has raised nearly $400 million in debt and equity capital, have yet to take such a step.