Alternative Protein

A target size has not been disclosed for the fund, but the firm’s Fund III closed above its C$70m target in 2020.

The firm has invested in more than 80 companies since it was founded in 2020.

Consumers in the US remain unconvinced by the prospect of cultivated meat, while a fundraising slump may also affect the industry’s chance of success.

The firm has made early-stage investments in agricultural supply chain start-ups across Europe.

The company behind novel food products such as the mammoth meatball and quail parfait appeals to investors because it has no intention of replacing conventional meat.

The early-stage venture capital strategy was launched in December 2021 and has amassed a portfolio of more than 20 companies.

The first-time fund received backing from European Investment Fund, KfW Capital and BPI France, among others.

The plant-based protein business said it achieved profitability and a 500% growth rate between 2020 and 2023.

Restaurant chain launched the vehicle with an initial $50m commitment in 2022 and has doubled its size less than two years later.

Seviora Capital’s T3F strategy has raised $173m to date for a 10-year closed-end fund focused on early-stage investments in agri-food companies across APAC.