Led · Equity · Mar 2024

SHICKEN Foods produces vegan Asian dishes—curries and kebabs—using a unique technology that creates a chargrilled chicken-like texture from soy, wheat, and pea proteins. The company operates a state-of-the-art, BRC-accredited plant-based manufacturing facility in Kent and is nut-free. Fresh capital will fund CAPEX to expand that facility, increasing capacity to produce both branded and private-label products for retail and foodservice. SHICKEN has landed listings in Costco and Tesco UK and most recently in 380 Sprouts Farmers Market stores across 23 US states, with additional listings in Costco UK, Iceland, Sweden, and France. Management plans international scale and aims to become a major plant-based producer within five years. Following recent retail listings the brand projects five times its current growth. Plant Alternative makes the SHICKEN range of chef-made Indian ready meals for retailers, foodservice and direct-to-consumer channels. The company plans to scale production by moving to a larger facility capable of producing 10 tonnes of product per day. It is expanding its team and preparing rollouts at Costco stores across the UK and internationally. Demand from retailers, foodservice outlets, and DTC customers is described as soaring, prompting the production and distribution expansion. The company has been growing rapidly from small-scale production—co-founder Satvinder Bains said meals were made on a kitchen table 18 months ago—and is now planning a third manufacturing site. Recent investment from Veg Capital will be used to fund these scaling plans.

Led · Seed · Apr 2023

VFC Foods produces KFC-inspired plant-based fried chicken products, including Chick*n Fillets, Popcorn Chick*n and a kids’ product called Chickn Stompers. The brand was launched in 2020 by Matthew Glover with co-founder Adam Lyons. It is stocked at major supermarkets including Tesco, Sainsbury’s, Asda, Morrisons, Ocado and Waitrose and says it has saved 278,718 chickens so far. VFC plans to use the new funding to accelerate UK growth and expand internationally, targeting the Nordics, Belgium and Spain next, with further moves into France, Germany and Australia. The company also intends to introduce chilled products later in the year and explore new eating occasions and formats. Veg Capital has been the sole investor to date and the business is open to further investment. VFC Foods develops and sells a vegan fried chick*n product, founded by Veganuary founder Matthew Glover and launched 13 months prior. The company has expanded into mainstream UK retail, including Tesco, secured listings in more of the UK’s top four grocers, entered mainland Europe, and gained traction with major foodservice wholesalers. VFC reports having spared 60,000 birds to date and is iterating its recipe (currently on the third iteration) to improve texture and flavour. The business raised £7.5m ($10.3m) in a seed round to fund capacity increases, team hires, marketing, R&D, and international upscaling. Management plans fast-paced expansion into the US after strong interest at Plant Based World Expo, including recruiting a US general manager and pursuing major US listings. Veg Capital, a mission-aligned ethical fund that donates profits to animal charities, led the round and reinvested via private fund Johnson Resolutions; a larger Series A is anticipated next year amid broad investor interest. VFC Foods, launched in December and founded in the UK three months prior, makes a vegan fried chick*n product created by chef Adam Lyons. The company is already operational in mainland Europe and has just entered the Spanish market while holding talks with retailers across other European territories. Founders Matthew Glover and Adam Lyons positioned the brand to outprice KFC and challenge the chicken industry; the founders say the launch required virtually no marketing and has generated enquiries from more than 50 countries. VFC plans rapid growth, targeting £20m in sales by the end of 2023 (equivalent to 3 million chickens) and £50m in the 2025 financial year (7.5 million chickens). The funding will be used to scale up production and accelerate brand growth in the UK and overseas, with Glover becoming CEO and Lyons overseeing operations.

Participated · Seed · Sep 2022

Nutropy is a French food-tech startup that engineers animal-free casein and other dairy proteins using precision fermentation, then formulates them into B2B powdered ingredients branded as “plug-and-play” solutions for traditional dairy manufacturers. Its flagship offering, a “cheeseable milk” base, can be transformed into cheese and other dairy products that match the taste, texture and nutrition of conventional counterparts while lowering environmental impact. Led by co-founders Nathalie Rolland (CEO) and Dr. Maya Bendifallah (CSO), the company sells to food producers rather than end consumers. With fresh capital in hand, Nutropy plans to scale industrial production of casein, broaden its portfolio of dairy applications, and pursue commercial opportunities across North America, Asia and Europe. The firm has secured public support from French and European programs, including Bpifrance, to complement private investment. Financially, the company closed a €2 million pre-seed round in 2022 and has now added €7 million in new funding, bringing total known equity raised to €9 million.

Led · Equity · Jun 2022

Honestly Tasty, founded by siblings Mike and Beth Moore, makes plant-based cheeses such as Shamembert and Veganzola using traditional fermentation in state-of-the-art production facilities in North London. The brand positions itself as highly authentic and able to satisfy die-hard dairy lovers. Veg Capital has led the latest funding round with a £250k investment, and a Seedrs crowdfunding campaign has reached almost £700k. The company will use funds to accelerate NPD—including a cultured hard cheddar, smoked cheese, and Stilton and Wensleydale alternatives—grow the team, and expand into national wholesalers and retailers. Honestly Tasty reports an 11x growth rate since launching in 2019. Veg Capital highlighted the range's quality and joins a portfolio that includes other UK vegan category leaders.

Led · Seed · May 2022

Jam 'n' Vegan produces a range of culturally inspired vegan ready meals created by chef Kyle Parchment, drawing on dishes from his world travels. The menu includes items such as Jackfruit Mutton with Rice and Peas, Drunken Laska Noodles, Tuk Tuk Tikka, Thai Mango Curry, East African Bean Stew with Jollof Rice, and Caribbean Mac n Cheez with Jerk Crumb. The brand currently sells via a D2C home delivery service and has built a UK following, accumulating over 1,000 positive reviews. Veg Capital has invested to support expansion, and will join the board to help grow the team and commercial reach. Planned uses of capital include hiring a marketing manager and diversifying routes to market to add retail and food-service distribution alongside the existing D2C channel. The company emphasizes flavour and cultural authenticity as core product strengths.