Matthew Glover, the UK-based co-founder of the Veganuary initiative, has launched an investment company to help fund early-stage businesses in the plant-based food space.
The not-for-profit Veg Capital fund will provide angel, seed and Series A funding to companies and entrepreneurs that “fulfil its criteria and aim to drive down the number of animal products in the food system”.
The company will focus on developing innovative plant-based and cultivated replacements to animal products, including meat, seafood, dairy and eggs.
Veg Capital plans to donate all profits to UK and European animal protection charities.
Glover, who will be managing director of the new business, said: “We invest in plant-based foods and then through our philanthropy help raise awareness and increase demand for that food. It’s a double whammy of activism. We’ve already provided funding to eight game-changer companies and there is much more to come.
“Investment in this space remains strong despite Covid-19, with several plant-based meat companies raising significant funds recently. It is no surprise then that the number of investors in this sector is also on the rise and Veg Capital welcomes the opportunity to collaborate and co-invest with other like-minded funds and individuals.”
Glover is joined by Cliff and Simi Johnson who have been offering start-up investments, financial consulting and “workplace well-being support” through their own fund Johnson Resolutions.
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Veganuary is a UK non-profit organisation that encourages people to follow a vegan lifestyle for the month of January. The event began in 2014.