ProVeg Incubator

Our mission is to drive the food and materials technology revolution by replacing animals in the supply chain. CPT Capital partners with visionary companies using cutting-edge technologies to shape the future of protein. As a long-standing dedicated investor in the alternative protein space, CPT Capital has unmatched experience and expertise investing in companies disrupting the food system. Our Investments CPT Capital is defined by the companies we invest in. From the breakthrough biomimicry methods of Impossible Foods or Beyond Meat, to Upside Foods cell-based meat revolution, our portfolio companies are not afraid to challenge conventional wisdom. Plant-Based Proteins: Derived from plant sources e.g. pea, bean, lupin, hemp. Optimised for taste, texture and nutrition to biomimic animal meat, egg, and dairy products. Recombinant Proteins: Creation of individual desired animal proteins such as casein, gelatin, and whey through a fermentation/brewing process. Both ingredients and full product development. Cell Culture: Growing complete cells (either of animal origin i.e. muscle, fat and skin, or non-animal origin i.e. mycoprotein, algae) in a nutrient-rich culture medium. Enabling Technologies: Development of the necessary technologies and supporting infrastructure required to facilitate the transition to an alternative-protein food system.

The world is entering a new era of food and agriculture transformation. Long-term consumer trends towards health and sustainability, along with a growing and more affluent population, are driving the demand for more efficient and sustainable food production methods. Fueled by recent technological breakthroughs, increasing government support, and a focus on resource allocation, the traditional agriculture industry is facing significant disruption and pressure to adapt. Lever VC backs the entrepreneurs creating the future of food and agriculture. What we look for Lever VC invests in companies creating the future of food and agriculture, encompassing anything that drives improvements in sustainability and ESG targets in the current food system. For novel ingredient companies, such as providers of sustainable commodity goods, nutraceuticals, proteins, flavorings, or fats, we look to invest in companies with significantly improved quality, price, sustainability, and functionality, that demonstrate product-market fit. For technology-driven companies across the food and agriculture supply chain, we look to invest as early as possible in global or regional pioneers of technologies that create ingredients, inputs, services, machinery, or products that generate significant improvements compared to state-of-the-art incumbents and have a clear path to market-accessible price points. For product-driven companies in the better-for-you, pet food, and plant-based space, we look to invest early in companies that are #1 or #2 in quality in their broad geographic region, in product categories with large total addressable markets that are not over-saturated, and that have demonstrated early sales traction and strong weekly unit turnover. In all categories, we look for reasonable deal terms and fantastic founding teams with the vision, work ethic, good judgment, intelligence, and self-awareness needed to build an incredibly successful company. Lever VC conducts robust, lead-level due diligence before every investmentSourcing Lever sources deals from our extensive personal networks in the sector, robust inbound cold contacts, incubator and accelerator partners, and trade media and sales channel monitoring. Tracking The Fund tracks and monitors over 5,000 companies in the protein landscape through its proprietary database, allowing for robust peer analysis and early detection of breakout growth. Scientific and Technical Review Lever utilizes its in-house scientific expertise to conduct extensive technical review on all relevant deals via interviews, data analysis, IP and academic literature reviews, and site visits. Due Diligence The Fund conducts lead-level due diligence before all investments, including financial modeling, returns analysis, taste panels, site visits, competitor analysis, and general financial and strategy reviews. Lever VC's deep sector experience allows it to provide portfolio companies with much more than just capital The Fund taps its extensive network of investors in the category to help portfolio companies raise follow-on rounds with value-add partners. It utilizes its connections with leading food companies around the globe to help portfolio companies secure product development, scale-up and sales partnerships. It draws on years of experience investing across scores of companies in the Food and AgTech sectors (and reviewing thousands more) to advise on commercial and marketing strategies. Lever VC prefers to lead or co-lead rounds and to take board or board observer seats when possible, although neither is required.

Good Startup is a Singapore-based venture capital firm focused exclusively on the alternative protein sector. Its inaugural Good Protein Fund I is a US$34M global multi-stage venture capital fund with 21 investments to date. Portfolio companies include Impossible Foods, The EVERY Company, SuperMeat, Motif FoodWorks, VitroLabs and Avant Meats. Our investments span across technology stacks (plant-based, microorganism-based and cell-based) and product categories (eggs, dairy, meat, seafood, materials, equipment & technology, ingredients).

We are the corporate venture capital arm of Paulig, investing in startups that contribute to a tastier, healthier and more sustainable planet. We seek financial and societal impact in our investments, as well as a strategic link between Paulig and the startups we back. As an evergreen fund connected to a 150-year-old family-owned business, we don’t have a determined time for exit and always act in the best joint interest of the startup and investors. Our investment focus PINC was launched as Paulig Incubator in 2018 to help Paulig stay in the forefront of relevant innovations, as well as to contribute to a tastier, healthier and more sustainable planet. Today, our ambition is the same, but we have developed into a corporate venture arm. We aim for strategic, financial, and societal impact in our investments, fostering a sustainable food system for tomorrow. We are investing across the agrifood value chain in three primary impact themes: Improve planetary health and diet within the current food system: This includes innovations in agriculture and food security, such as advanced crop breeding or green fertilizers, innovative ingredients and next generation healthy foods, as well as solutions for tracking and improving climate and nature. Novel technologies to feed 10 BN people by 2050: Technologies needed to sustainably produce enough food for our growing population. This includes food production without land use change, such as precision fermentation and cell-cultivation. A circular system for food & materials: Regardless of whether we grow our food in soil or in bioreactors, the system needs to be circular. Some examples are upcycled ingredients, food from unused sources, new coating and packaging solutions, as well as technologies to prevent or make better use of side streams. We are looking for entrepreneurs in an attractive market space with an intrinsic drive to find a solution to the problem they are addressing, a clear and scalable plan for success, a complimentary team and partners whom we can trust and work closely with. We value collaboration and are proactively working with building strong investment syndicates, in which we’re flexible in our role as co-investor, co-lead, or lead investor, if there is a strong strategic link. As a corporate venture capital and evergreen fund, we always act in the best joint interest of the startup and investors. Investment criteriaPre-seed & seed Entry ticket €200k-€1M Focus on the Nordics & Europe Strategic link to Paulig preferred Flexible in the role as co-investor, co-lead, or lead investor Our offer We’re a value driven team with financial, operational, and strategic experience and capabilities. We have a hands-on approach and support founders when needed or actively through board roles. Our extensive Nordic and European network of investors and innovation-enablers can help to accelerate development and scale-up efforts. Moreover, PINC serves as an entryway to Paulig for collaborations, consumer insights, expert guidance in brand and product development, and access to a vast European sales and distribution network.

We’re a venture capital fund with startup accelerators in key locations, investing in and accelerating top performers in the new food space. NEW PROTEIN FUND AND ACCELERATOR Our first fund, The New Protein Fund I (size USD$50M), is investing in the most innovative companies working on plant-based meat, seafood and dairy products, cell-based meat, seafood and dairy products, as well as ingredients and technologies that facilitate the growth of these categories. We combine capital, mentorship and a strong ecosystem of partners to support and grow the world’s most compelling plant-based and cell-based alternative protein companies. We invest USD$200K ($125K USD cash and $75K USD of in-kind value-adds) in the world’s best alternative protein and ingredients companies twice per year. Over a 5 month period, we work side by side with our portfolio companies to help them prepare for massive growth and scale. Our locations in New York City, Paris and Singapore allow us to bring in world-class mentors, advisors, investors, along with hungry customers, providing all of our companies with the industry connections they need to make sure their products can scale to match their global ambitions. THE PROGRAM: Twice a year, we select the best alternative protein startups to undergo a rigorous 5-month accelerator program in New York City, Singapore or Paris. Through our program, we aim to help our companies break barriers on product development, scaling and distribution, market entry, channel development, pitching and fundraising. We make sure you have everything you need to succeed at scale both domestically and globally. HOW: Having led other food accelerators, we went back to the drawing board and created a new approach to make sure you get the support you need to succeed. Our program combines capital and partnership in the form of mentor engagement, team building, peer support and access to an active network to help your company grow rapidly. Areas of focus include the whole spectrum of support for high growth food companies. Key areas of focus include those where young companies often have the toughest challenges. These areas of support include product improvement by leveraging on our in-house food scientists and also scaling production by bringing experts and partners in to support our portfolio companies. THE DEAL: We invest USD$200K ($125K USD cash and $75K USD of in-kind services). Post-accelerator, we may invest up to USD$2.5M in our top performing companies. GENERATION FOOD RURAL PARTNERS FUND The Generation Food Rural Partners fund commercializes university-developed intellectual property focused on food, protein, and agriculture innovation. We launch new companies, recruit seasoned management teams, and provide support from inception alongside our university and strategic partners. Our mission is to support economic development in rural communities and drive innovation in university ecosystems across the United States.

Sucden Ventures is a venture capital specialist formed by Sucden in 2020 to invest in innovative early-stage growth companies in the food and agricultural sector. Sucden Ventures aims to support disruptive and impactful technologies that can transform the food supply chain in the fields of sustainability, efficiency but also health and nutrition. Sucden Ventures will take advantage of the competitive benefits offered by the Sucden network of companies and partners, built over decades across many regions, and from Sucden’s industrial and agricultural assets. SPECIALIST AREAS We're looking to support innovation and development in three specialist and growing areas of the food tech and agri tech ecosystem. They are: alternative proteins, both cell-based and plant-based alternative or new ingredients plant and crop sciences. PORTFOLIO COMPANIES Sucden Ventures has already made, and currently maintains, several direct investments in new companies innovating in the field of new ingredients. Alongside its historical partner, Continental Grain, Sucden Ventures has also made co-investments in a dozen of companies. One of which uses natural fermentation of mushrooms to create novel plant-based ingredients and transformative technology, offering solutions for sugar reduction, food insecurity, sustainable protein, natural immune support and much more. Another company looks at leveraging plant and crop sciences to offer a clean alternative to synthetic nitrogen fertilizer. INVESTMENT APPROACH We make investments in relatively early-stage growth companies in the specialist sectors mentioned above, potentially anywhere in the world. We aim to be an active minority investor, looking to support our portfolio companies in: business development testing new solutions through our commercial, industrial and agricultural network growing internationally.