December 2, 2021
- Agronomics plans additional £25M raise for its fast-expanding portfolio of cell ag and cultivated meat companies, is in “advanced discussions” to make investments of up to US$52 million in six new and existing companies
Agronomics, the leading British VC firm focused on cellular agriculture and cultivated meat, announces it is proposing a £25m raise through the placing of shares, to further invest in its portfolio companies in the sector. The company’s co-founder is Jim Mellon, investor and writer of the book Moo’s Law.
Increasingly prolific in the field over the past two years, Agronomics declared in January 2020 that that further to its investments in LegendDairy Foods, Meatable, Oritain and BlueNalu, it had completed a fundraise of £5.5 million. In April of 2020, the company invested in Rebellyous Foods of Seattle and the following November another $5million in BlueNalu.
This May Argonomics announced a planned raise of £50 million for cultured meat, and just this month it has further invested in The Every Company and led a pre-seed round for Ohayo Valley, a producer of plant-based wagyu steak.
The company states in its proposal: “The net proceeds of the Fundraise and Open Offer after expenses will principally be used by the Company to finance further investment into current portfolio companies and projects and investment in new opportunities within the cellular agriculture sector (and other related sectors).
“The Company currently is in advanced discussions to make investments of up to US$52 million in 6 new and existing portfolio companies covering category leaders in both cell culture and fermentation technologies and spanning the range from pre-seed to series B. In addition to these very near-term opportunities, the Company has a significant pipeline of additional identified leads and expected funding rounds for existing portfolio companies.”