March 20, 2016

Launched just last month, the $25 million New Crop Capital (NCC) fund focuses solely on investing in plant based and culture based meat and dairy alternatives and the technology platforms that are designed to advance such products.

Founded by managing director, Bruce Friedrich, investment manager, Chris Kerr, and managing trustee, Nick Cooney, NCC plans to commit between $50,000 and $1 million per investment, spanning Angel, Seed, and Series A funding.

Through Friedrich, who is also the executive director of the Washington DC-based non-profit The Good Food Institute (GFI), NCC is closely tied-in with the non-profit which provides marketing, regulatory, and business advice to plant-based and culture-based food startups with the goal of expanding the reach of such products into traditional pipelines including grocery stores, restaurants, and food service vendors.

Since its launch, NCC has built a portfolio of investments including The Purple Carrot – a plant-based meal delivery service co-founded by food columnist, Mark Bittman, plant-based dairy alternative company, Lyrical Foods, plant-based meat alternative company, Sunfed Foods, which is focusing on markets in Asia and Oceania, plant-based cheese company, Miyoko’s Kitchen, culture-derived meat company, Memphis Meats, culture-based gelatin company, Gelzen, and plant protein meat alternative company, Beyond Meat.

“We are committed to driving the future of food,” explains Friedrich on the Good Food Institute website. “Consumers choose what to eat on the basis of taste, convenience, and price. That’s where The Good Food Institute and New Crop Capital come in. Both are laser-focused on creating clean plant and culture-based alternatives to animal products that taste great, are available everywhere, and that are cost competitive with conventional animal products. Through market competition and food technology, we are speeding the global transition away from farming animals and toward much cleaner and better plant and culture-based meat, dairy, and eggs.”