CPT Capital: Single Family Office of Jeremy Coller – one of the most important Private Equity professionals in Europe
The London-based venture capital investor CPT Capital is part of Jeremy Coller’s UK single family office. But who is the owner of this investment company that tries to disrupt the food industry? Jeremy Coller is well-known as the founder of the first European private equity fund for secondaries in 1990. His net worth is said to be around £300M and he still is one of the most influential financial managers in the UK and beyond. However, the British businessman is also well-known as philanthropist who wants to make a difference. As an example, he established dedicated business schools in the area of venture and management education in London and Tel Aviv. Further, the Jeremy Coller Foundation’s aim is to end factory farming. This is worth knowing in order to understand the backround and the mission of CPT Capital.
Disruption in the food industry: CPT Capital as one of the most important foodtech venture capital firms worldwide
The food industry is facing major changes since a couple of years. Startups try to turn an entire industry upside down and revolutionize the way food is made and thought about. While some foodtech startups focus on the distribution and delivery of meals, other young companies take care of the actual products. In this context, a quite crucial topic is the renunciation of animal products. And this is exactly where CPT Capital comes into play. The venture capital focused single family office aims at “creating the future of food and materials”. The investment company backs startups that want to replace animals by using cutting-edge technology. Such young companies are gaining more and more public attention and it seams as if the next big breakthroughs are just around the corner. CPT Capital is not just one of several players in this industry, but a trusted and prestigious partner for the best food and protein startups from around the world.
How CPT Capital structures the portfolio of its startups: Plant-based proteins, recombinant proteins, cell culture
The venture capital focused family office of Jeremy Coller chooses a relatively sharp investment approach when it comes to the industry. CPT Capital is looking for startups that revolutionize the food industry by thinking proteins new. While the business model of all startups intend to replace an animal-derived product, the way to get there is quite different. In order to structure the portfolio, CPT Capital built three segments: plant-based proteins, recombinant proteins and cell culture. In the remaining article, we deal with each area in a dedicated way by presenting interesting investments.
Food venture capital in the field of plant-based proteins
For years, genuine meat alternatives were developed only timidly or not at all. However, in the meantime, a real market has developed for plant-based products that ressemble meat, eggs and dairy products in texture and nutrition. This is why more and more venture capital fonds have an eye on such startups. CPT Capital has shares in some of the most promising companies in their field. We present five of those.
#1: Beyond Meat
- Headquarter: El Segundo, California
- Self-description: At Beyond Meat, we believe there is a better way to feed the planet. Our mission is to create The Future of Protein® – delicious plant-based burgers, sausage, crumbles, and more– made directly from simple plant-based ingredients.
- Total funding: $122M (Crunchbase)
#2: Impossible Foods
- Headquarter: Redwood City, California
- Self-description: We started with a simple question. “What makes meat taste like meat?” Then we took everything we know and love about meat, and made it even better – using plants.
- Total funding: $687.5M (Crunchbase)
#3: Redefine Meat
- Headquarter: Tel Aviv, Israel
- Self-description: Redefine Meat is applying proprietary 3D printing technology, meat digital modeling, and advanced food formulations to produce animal-free meat with the appearance, texture and flavor of whole muscle meat.
- Total funding: $6M (Crunchbase)
- Headquarter: Ashdod, Israel
- Self-description: Yofix Probiotics Ltd. develops and manufactures vegan & soy-free fermented plant-based prebiotic & probiotic foods.
- Total funding: $2M (Crunchbase)
#5: Alpha Foods
- Headquarter: Glendale, California
- Self-description: We firmly believe it should be easy to find the protein you need in the meals you want. That’s why we are always going for gold when it comes to deliciously plant-based meals. Whether you are choosing a meatless life or a meatless Monday, we make food for your lifestyle: easy meals for everyday life that are totally, completely plant-based.
- Total funding: $7M (Crunchbase)
Food & materials venture capital in the field of recombinant proteins
Startups using fermentation or brewing processes in order to create proteins such as casein, gelatin and whey can be found in the segment “recombinant proteins”. These companies are not exclusively active in the food sector. Rather, some start-ups are also concerned with developing new materials and develop completely new products. In total, seven startups can be found in this segment of the portfolio. Five of them are portrayed in the following.
- Headquarter: Boston, Massachusetts
- Self-description: Born out of Ginkgo Bioworks, the global leader in bio-organism engineering, our vision is to fundamentally change our understanding of food and develop ingredients that don’t compromise between taste and food values. We are propelled by the idea that, using leading-edge science and technology, we can make delicious food simultaneously.
- Total funding: $117.5M (Crunchbase)
#2: Perfect Day
- Headquarter: Berkeley, California
- Self-description: At Perfect Day, we’re making dairy proteins – whey and casein – that are nutritionally identical to proteins from cow’s milk. All it takes is human curiosity about what makes milk… well, milk… along with modern science and the age-old art of fermentation.
- Total funding: $61.5M (Crunchbase)
- Headquarter: San Leandro, California
- Self-description: The first-ever animal-free, clinically-proven bioactive collagens designed for skin health.
- Total funding: $23M (Crunchbase)
#4: Modern Meadow
- Headquarter: Nutley, New Jersey
- Self-description: Modern Meadow is a dedicated team of individuals pioneering the creation of biologically advanced materials. We seek to transform the material world by unlocking the power of nature to inspire design for a healthier planet.
- Total funding: $53.5M (Crunchbase)
#5: Clara Foods
- Headquarter: South San Francisco, California
- Self-description: We’re developing technology to create animal protein without the animals. Our protein platform offers all the great taste of the foods you know and love with less cost, better performance and less waste.
- Total funding: $16.8M (Crunchbase)
Food venture capital in the field of cell culture
According to the website, the portfolio of the cell culture segment of CPT Capital comprises seven companies. All those startups are using a nutrient-rich culture medium in order to grow complete cells. In the following we list five of the startups in this segment that are currently (September 2019) backed by the venture capital single family office CPT Capital.
#1: Memphis Meats
- Headquarter: Berkeley, California
- Self-description: At Memphis Meats, our mission is to bring delicious and healthy meat to your table by harvesting it from cells instead of animals. You can enjoy the meat you love today and feel good about how it’s made because we strive to make it better for you…and for the world.
- Total funding: $20.1M (Crunchbase)
#2: 3F BIO
- Headquarter: Glasgow, United Kingdom
- Self-description: 3F BIO is a biotechnology company producing protein sustainably by making more with less. Our purpose is to help tackle the combined issues of feeding a growing global population and the unsustainable impact of traditional protein farming.
- Total funding: $28.3M (Crunchbase)
- Headquarter: San Diego, California
- Self-description: BlueNalu’s mission is to be the global leader in cellular aquaculture™, providing consumers with great tasting, healthy, safe, and trusted seafood products that support the sustainability and diversity of our oceans.
- Total funding: $4.5M (Crunchbase)
#4: Aleph Farms
- Headquarter: Rehovot, Israel
- Self-description: Leading the slaughter-free meat revolution for a healthier world. We are shaping the future of food by producing cell-grown meat that resembles conventional meat.
- Total funding: $14.4M (Crunchbase)
#5: Mosa Meat
- Headquarter: Maastricht, The Netherlands
- Self-description: The world’s first slaughter-free meat. Our mission is to produce real meat for the world’s growing population that is delicious, healthier, better for the environment, and kind to animals.
- Total funding: $7.5M (Crunchbase)
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Picture source: Lily Banse