Participated · Seed · Sep 2023

Jellatech, founded in 2020 by Stephanie Michelsen, develops cultivated collagen and gelatin via cellular agriculture with applications across food, personal care, biomedicine and materials. The company has demonstrated the ability to create both bovine and human collagen and is building a broader protein portfolio focused on proteins uniquely found in animals and humans. Jellatech plans to commercialize and scale production, prioritizing smaller, cost-effective use cases to begin generating revenue while pursuing larger market opportunities. The team views beauty and biomedical customers as attractive early markets with different regulatory pathways and diverse distribution channels. Management is focused on improving cost, efficiency and speed of production as it expands species and protein offerings. The startup raised capital to support these commercialization and scale efforts and remains agile across industries and applications. Jellatech, founded in 2020 by Stephanie Michelsen, positions itself as the world’s first cell-based collagen and gelatin ingredient company. The firm leverages a proprietary cellular agriculture process to manufacture sustainable, high-quality animal-free substitutes for collagen and gelatin. Its core product targets food applications and the company is also exploring uses in cosmetics, personal care and medication. Jellatech closed a $2 million pre-seed fundraise in April and counts Ryan Bethencourt’s Sustainable Food Ventures as a prominent investor. The company recently completed a strategic investment from CULT Food Science Corp. and plans to scale, pursue commercialization globally, and explore scientific synergies with CULT’s teams. Jellatech develops real collagen and gelatin via cellular agriculture rather than isolating them from meat-industry byproducts. Its products are biologically identical to native collagen, addressing functionality limitations of current animal-free and plant-based alternatives. The company targets applications across skincare and cosmetics, medical and pharmaceutical uses, and food & beverage. Jellatech reports several inquiries from potential customers and partners and will ship early samples by the end of the month. The startup says the new funding will accelerate product development and distribution of initial collagen samples. Stephanie Michelsen is co-founder and CEO.

Participated · Equity · May 2023

miscusi is an Italian food brand founded in 2017 by Alberto Cartasegna (CEO) and Filippo Mottolese. The company operates restaurants in Italy and the UK. It reported sales of €13 million, up 30% year‑over‑year, and an EBITDA of €1 million. In 2021 the company raised €20 million and recently secured €10 million from a group of investors. The latest proceeds will be invested in opening restaurants with new formats and expanding international operations, according to Cartasegna. The capital and growth plans point to continued expansion of its restaurant footprint and new-format rollouts.

Participated · Series C · Jul 2021

Exoticca operates a traveltech platform that digitizes and sells complex multi-day tour packages combining flights, hotels, transfers and activities across 70+ destinations. The company is investing heavily in its proprietary AI-powered interconnectivity systems to synchronize services, personalize recommendations, optimize pricing and automate itinerary creation. Management says these AI capabilities improve matching between travelers and experiences while boosting operational efficiency and partner relationships. Exoticca is present in markets including the United States, Canada, United Kingdom, Spain, Australia, Colombia and Mexico, and generates more than 75% of its business in North America. The company positions itself as a digital pioneer in the €100 billion multi-day tour package sector and is a portfolio company of several venture funds. Recent financings have strengthened its balance sheet to support further international expansion and technology investment. Exoticca runs a platform that integrates flights, hotels, meals, transfers, transport and local suppliers to simplify booking of complex multiday tour packages. The company says its model can reduce costs by as much as 30% compared with traditional offerings. Exoticca reports it has more than doubled sales year-over-year since 2015. It operates in the United States, Canada, United Kingdom, France, Germany, Spain, Mexico and Colombia through a network of online and offline travel and non-travel partners and offers 70 destinations from its Barcelona headquarters. Seventy-five percent of its business comes from the U.S. and Canada and the company targets middle- and upper-middle-class customers. Management says the objective is to expand into Latin America, the Middle East, India and China. Exoticca digitises high-complexity, big-ticket tours (multiple flights, hotels and activities) and offers them completely online with real-time availability, removing traditional brick-and-mortar intermediaries. Its platform speeds up purchasing and helps deliver more affordable prices for large trips. The company has expanded into Latin America, recently opening Mexico and Colombia, and plans to launch five more markets in the region by 2024. Exoticca reports rapid revenue growth: from €2 million in its first year (2015) to €200 million in 2023, and it expects to reach €300 million in sales by the end of 2024. To date the company has raised over €85 million in funding. Management positions the business for continued geographic expansion using digital distribution to scale. Exoticca, founded in 2013 and based in Barcelona, is a next-generation tour operator that enables online booking of complex multi-day trips by bundling flights, hotels, transfers and activities in one platform. The company uses technology to deliver a frictionless purchasing experience, real-time monitoring and enhanced in-destination customer support. It currently sells trips to over 60 destinations across seven markets (US, Canada, UK, France, Germany, Spain and Mexico) and recently launched a B2B vertical for traditional travel agencies. Exoticca has reported sustained growth with an average compounded growth rate of over 100% since 205 and expects to close 2022 with €120 million in revenue. The platform raised a €20 million venture debt financing led by Claret Capital Partners and Sabadell Venture Capital, bringing the company's total funding to €66 million. Proceeds will be used to accelerate growth, increase investment in technology and product, and support expansion into the Americas. Exoticca operates a digital platform for multi-day package tours to long-haul destinations, enabling online purchase of complex packages with flights, hotels and activities. Its platform covers over 50 destinations worldwide. The company is based in Barcelona and currently operates in the United States, Canada, the United Kingdom, France, Germany and Spain. Led by CEO Pere Vallès, Exoticca plans to use new funding to invest in technology and product to further automate the booking process and enhance travelers' experience. The company is also open to growing through acquisitions. Financially, Exoticca has raised a total of $53M to date after closing a $30M Series C.

Participated · Series B · Apr 2021

Poke House is a fast-casual restaurant group specializing in poke bowls, founded in Italy in 2018 by Matteo Pichi and Vittoria Zanetti. The group operates nine UK sites, all based in London, and has locations in Spain, Portugal, France, Romania, Austria, the Netherlands and the US. It has secured new funding from Red Circle Investments, whose backing aims to help transform and strengthen the Poke House concept into a global brand. Plans are focused mainly on international expansion, including new openings in countries where the group is already present and evaluation of other territories. Poke House is also looking to strengthen its sustainability credentials with a goal to become B-Corp certified in the future. Long-term shareholders MIP, Angelo Moratti, Eulero Capital and FG2 Capital were reappointed alongside Red Circle Investments to support the next phase of growth. Poke House industrializes production of poke bowls for delivery platforms, specializing in marinated fish layered with rice, pickles, noodles and other toppings. The company uses tech and data to optimize production, track the supply chain, and analyze third-party delivery platform data. Poke House claims to have built a €100M+ company inside two years and expects turnover of more than €40 million in 2021. Founded by Matteo Pichi and Vittoria Zanetti, it has opened 30+ stores across Italy, Portugal and Spain and employs around 400 people. The startup targets sub-10 minute food preparation times and delivery under 25 minutes through heavy investment in delivery-channel analytics and backend efficiencies. With fresh funding it plans to open new stores in existing markets and enter France and begin expansion in the U.K.

Led · Equity · Dec 2020

Maskokotas operates a chain of pet-product stores and online brands, offering retail and e-commerce sales for pet supplies. The company was founded in 2010 by CEO Vicent Jornet and partner Pascual Lledó and is based in Valencia. Maskokotas has about 250 employees and opened 15 stores this year; it expects to add 100 stores in 2021 and 150 stores annually in the following two years. The group has created an umbrella brand, Buddy, for its five banners and recently opened an 8,500 m² warehouse in Barcelona to support supply. It sells online through associated brands including Petness (Portugal), Miscota, Animalear and Vetality. Financially, the chain expects revenue of €50 million this year (a 40% increase) and projects €70 million next year.