Synthesis Capital raises £238m fund to back foodtech startups

London-based Synthesis Capital, a foodtech and alternative protein investor, has launched a $300m (£238m) fund to back technology solutions that will help with global food system challenges.

Average investments from the fund will be $15m and the venture capital firm is looking to invest in around 15 companies across the food value chain.

“In order to transform our food system to feed 10 billion people by 2050, within planetary boundaries, these new food technologies and platforms are imperative,” said Costa Yiannoulis, managing partner and co-founder of Synthesis Capital.

The Synthesis Capital fund has already invested in meat technology startup Upside Foods, cowless ice cream Perfect Day and plant-based 3D printing tech Redefine Meat. It has also made investments in Culture Biosciences, a company that outsources R&D and scaling through the use of its bioreactor farms.

"This announcement coincides with the largest crisis in the global food system, but also with the most significant potential for its reinvention. The current unsustainable, animal-reliant food industry poses extensive challenges, further amplified by the global pandemic, the effects of climate change, and the rising cost of living. In addition, the collateral disruption arising from the present conflict in Ukraine is leading to inevitable further increases in food prices. The need for food system transformation is therefore more critical than ever. With recent technological breakthroughs, the food industry is now at an inflection point offering the potential to redefine our food system and feed the world in a sustainable way", the company says.

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