Participated · Series B · Mar 2026

Standing Ovation develops a patented precision fermentation process that upcycles whey permeates and agricultural sugars into high-quality casein proteins used across the agrifood industry. The company has protected its technology with eight patent families and positions its approach as a circular alternative to traditional animal casein. An ISO-certified life cycle assessment cited by the company indicates a 74% reduction in greenhouse gas emissions and up to three times less water use versus animal casein. By repurposing dairy side-streams that were previously low-value, Standing Ovation aims to create new revenue streams for producers and reduce reliance on international supply chains. The company has attracted institutional and strategic investors including Astanor, Bel Group, Seventure Partners, Big Idea Ventures and Danone Ventures. With the recent Series B and accompanying non-dilutive financing, Standing Ovation is funding commercial rollout in the U.S. and planned expansion into Europe and Asia starting at the end of 2027.

Participated · Equity · Sep 2022

Phenix builds digital solutions and five proprietary tech products aimed at preventing food waste and recovering unsold goods. The company reports having already saved more than 200 million meals from the bin. Phenix operates across France, Spain, Portugal, Italy and Belgium and offers tools addressing the value chain from farm to fork. It is an impact startup organized as an ESUS and certified as a B Corp. The company intends to use new funding to strengthen its leadership position in Europe and expand its presence in existing markets. Phenix was founded in 2014 by Jean Moreau and Baptiste Corval. Phenix is a French, B Corp–certified company that designs solutions to reduce waste across the food value chain. Its offerings include a consumer-facing mobile application for discounted sales of unsold products, B2B #TechForGood solutions for food & beverage players, donations to NGOs and food banks, engagement with farmers for animal feeding, and direct sales in its “Nous Anti-Gaspi” stores. Since its creation in 2014 Phenix says it has saved more than 100 million meals (40 million meals saved in France in 2019) and employs a network of about 150 "waste coaches." The company reports doubling its impact every year and positions itself as a leader in waste reduction and food donation in France. Near-term plans in the article include expanding its consumer mobile app and scaling its B2B solutions for industry players. Phenix emphasizes collaboration with producers, manufacturers, retailers, food services and restaurants to pursue Zero Food Waste. Phenix, founded in 2014 and based in Paris, uses technological solutions to reduce food waste by matching unsold products with the best recovery channels. Its platform redirects surplus into short-term promotions, donations to charities, animal feed and recycling as an alternative to landfills and incineration. The company works with more than 950 associations and about 1,000 clients, including major retailers such as Unibail‑Rodamco, and is developing its presence in Spain and Portugal. Phenix currently distributes 100,000 meals and diverts roughly 50 tons of waste from the trash every day. It has completed a €15 million financing round and plans to use the funds to accelerate international development, invest in new digital services, and expand into managing other waste streams.

Led · Series A · Jun 2022

Symbrosia breeds and cultivates high-performing seaweed strains and develops SeaGraze™, a natural seaweed feed additive that reduces livestock methane emissions by over 80%. After two years of research the company developed A. taxiformis strains that are significantly more productive, potent, and resilient than wild populations, improving pace and unit economics of production. Symbrosia completed the world’s first commercial A. taxiformis trial in 2020 on an organic farm in Dover Plains, New York, which confirmed drastic methane reduction. The company plans to scale production by orders of magnitude, max out its pilot facility at the Natural Energy Laboratory of Hawaii (NEHLA), and build a larger production facility to continue exponential scale-up. Symbrosia intends to bring SeaGraze to market with brands and livestock producers in Hawaii, California, and the Pacific Northwest while partnering with researchers, ranchers, distributors, and brands to build low-methane supply chains. The company has received recognition including the Blue Climate Initiative’s 2022 Ocean Innovation Prize and media coverage calling it “the seaweed that could save the planet.”

Participated · Series B · Feb 2022

Splendid Spoon offers ready-made plant-based soups, bowls and smoothies that are vegan, non-GMO, gluten-free and organic, sold via a subscription-based DTC model with on-demand shopping available without committing to a plan. The company was founded in 2013 by Nicole Centeno and later added co-CEO Elise Densborn in 2018. It delivers to every state in the continental U.S. and sells more than 50 plant-based items. The business has grown rapidly: it reports over 20,000 subscribers, has doubled its growth rate since 2020 and says it has averaged 100% year-over-year growth. The team has expanded to 34 employees from 15 at the start of 2021, and management says recent investment generated $15 in revenue for every dollar invested in recent years. Planned uses for new capital include scaling the core product line, adding new products, categories and meal programs, hiring, and developing go-to-market strategy for supplements, other foods and channels beyond direct-to-consumer.

Participated · Series C · Jul 2021

Nature's Fynd develops Fy™, a “new-to-the-world” protein sourced from microbes originally found in Yellowstone hot springs and produced using breakthrough fermentation technology. The company makes non-GMO, animal-free meat and dairy alternatives and says its process requires a fraction of the resources of animal agriculture. Its early pre-release breakfast patties and cream cheese sold out in 24 hours, and its products are now available in a growing number of U.S. retailers, including Whole Foods Market. Nature's Fynd emphasizes impact and decentralized production as part of its mission to improve global protein access. The company has substantial capital: it has raised $500M following a $350M Series C last year. Leadership highlights the potential to deploy fermentation technology in low- and middle-income farming communities to boost income and nutrition. Nature's Fynd develops Fy, a new-to-the-world nutritional fungi protein grown using a fermentation technology that requires a fraction of the land, water and energy of traditional agriculture. The company says Fy is versatile and is being used to make meatless and dairy-free products, including a Fy Breakfast Bundle that sold out in 24 hours. Nature's Fynd has scaled production using robotics and automation in a state-of-the-art facility in Chicago’s Union Stockyards. The recent financing will be used to expand production capacity, build partnerships across retail and QSR channels, extend the product portfolio, and lay the foundation for global reach. Management has signaled a particular focus on expansion into Asia where it sees substantial demand for sustainable protein. The company expects to launch branded Fy-based foods in selected U.S. retailers later in the year. Nature’s Fynd produces Fy™, a new-to-the-world nutritional fungi protein derived from a microbe originally discovered in Yellowstone geothermal springs. Born from research conducted for NASA, the company positions Fy as a complete protein that uses a fraction of the resources of traditional agriculture and has an extremely low carbon footprint. Nature’s Fynd plans commercial product launches in 2021 and aims to introduce multiple product offerings built on Fy. To support commercialization and scale production, the company has added several food-industry veterans across food innovation, manufacturing, sales, and fermentation engineering. Financially, Nature’s Fynd secured $45 million in additional venture debt and equipment financing commitments and has raised over $150 million in equity and debt financing to date. Management says the financing and hires will accelerate the go-to-market strategy, enable more product offerings, and ensure capital efficiency for capital expenditures. Nature's Fynd produces a protein derived from a microbe originally discovered in the geothermal springs of Yellowstone's ancient volcano. Its ingredient contains all nine essential amino acids and also includes dietary fiber, calcium and vitamins. The company plans to commercialize food and beverage products across breakfast, lunch, dinner and snack occasions. Production began this month at its new 35,000-square-foot manufacturing facility on the site of the historic Union Stockyards in Chicago's South Side. Nature's Fynd employs about 50 people across its Chicago headquarters and a Bozeman, Montana R&D center. The company emerged out of NASA-supported research into organisms that thrive in Yellowstone National Park's geothermal springs and is led by CEO and co-founder Thomas Jonas. Sustainable Bioproducts develops an innovative fermentation technology to grow edible protein derived from research on extremophile organisms. The technology originated from studies of organisms in Yellowstone National Park’s volcanic springs and is intended to produce protein with high nutritional value and minimal environmental impact. The company is led by CEO and cofounder Thomas Jonas and is positioned in the food-technology/biotech space. It has received financial and in-kind support from agencies including NASA, the National Science Foundation, the National Park Service, the EPA, and the USDA, as well as support from the State of Montana and Montana State University. The company operates out of the University of Chicago’s Polsky Center for Entrepreneurship and Innovation. Financially, the company completed a $33M Series A financing to advance its technology.