Lever VC Secures $50 Million in First Close of Fund II for Agrifood-tech Investments

Lever VC has announced the first close of its second investment fund, raising $50 million to support early-stage startups in the agrifood technology sector. The venture capital firm, which operates out of the United States and Hong Kong, specializes in identifying and backing innovative companies focused on food and agricultural advancements.

The fund remains open to additional investors and is expected to reach its final close in 2025. The investor base includes institutional investors, funds of funds, family offices, and major food and agriculture corporations across multiple continents. Fund II aims to capitalize on emerging opportunities in the agrifoodtech sector, an area recognized for its substantial market size, strong growth rates, and active investment landscape.

Lever VC has already deployed capital from Fund II into five companies operating in different segments of the industry:

  • Gavan Technologies – Develops alternative fats for food applications.
  • Oobli – Specializes in sweet proteins as sugar alternatives.
  • Flox AI – Provides digital solutions for precision agriculture.
  • HerdDogg – Focuses on livestock monitoring and herd management.
  • Mush Foods – Produces ingredients for meat alternatives.

Since its founding, Lever VC’s investment team has been active in the food and agtech sector, participating in over 100 deals and deploying more than $500 million. The firm has a track record of supporting startups in the alternative protein space, having previously backed companies such as Beyond Meat, Impossible Foods, and Memphis Meats.

Nick Cooney, Lever VC’s managing partner, emphasized the potential of the agrifood sector, citing its economic scale and consistent exit opportunities. The firm aims to leverage its expertise to generate returns while fostering technological advancements in food production and agricultural efficiency.

The agrifood industry continues to evolve, with increasing investment in sustainable and scalable food solutions. Lever VC’s latest fund reflects growing interest from investors seeking to drive innovation in food production, supply chains, and alternative proteins. As Fund II progresses toward its final close, it is expected to further expand its portfolio with additional investments in transformative agrifood technologies.

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