Livekindly Collective has raised US$335 million in its latest financing round, making the company one of the top three highest-funded plant-based firms globally. The new proceeds will go towards the company’s plant-based acquisitions and investments, as well as its global expansion plans, with the U.S. and Chinese markets as its key targets.
Plant-based food group Livekindly Collective, stylised LIVEKINDLY Collective and founded by the Swiss alternative protein investment firm Blue Horizon Group, has secured US$335 million in its latest funding round announced on Monday (March 29). The capital raise was led by The Rise Fund, the impact arm of the private equity firm TPG Capital, and was joined by Rabobank’s Rabo Corporate Investments and SG2 Ventures among others.
The latest capital injection brings the company’s total funding to date to more US$535 million, which includes the US$135 million it secured in October 2020 that was led by Blue Horizon. Livekindly Collective was formerly known as Food United, but rebranded in March last year after the acquisition of the online media site of the same name, which publishes plant-based, vegan celebrity and recipe content.
With the close of this funding round, we are ideally positioned to rapidly scale our model and lead the global consumer shift toward healthy, delicious and sustainable plant-based alternatives.David Knopf, CFO, Livekindly Collective
Livekindly Collective, whose fresh funding makes it one of the top three highest-funded plant-based food firms in the world, says the investment will fuel its expansion plans for the U.S. and Chinese markets, as well as accelerate its acquisitions, partnerships and investments in the plant-based food space.
“With the close of this funding round, we are ideally positioned to rapidly scale our model and lead the global consumer shift toward healthy, delicious and sustainable plant-based alternatives,” said David Knopf, CFO of Livekindly Collective.
“Our mission is to make plant-based living the new norm, creating a healthier, more sustainable global food system through our international portfolio that meets local tastes.”
Earlier this year in January, Livekindly Collective acquired No Meat, the vegan brand developed by British manufacturer and retailer Iceland Foods, to join its existing portfolio which includes Oumph!, the Fry Family Food Co. and LikeMeat. Last month, the plant-based firm announced a partnership with Dutch food tech Rival Foods to develop a new plant-based whole cut chicken alternative.
In just one year, we have raised a significant amount of capital, which testifies to the urgency of our mission and the enormous investment opportunity it represents.Roger Lienhard, Founder & Executive Chairman, Blue Horizon Group & Livekindly Collective
Roger Lienhard, founder and executive chairman of the Blue Horizon Group and Livekindly Collective, says that its impressive funding record within just 12 months reflects the strength of the global plant-based movement as consumers continue to shift towards healthier, sustainable alternatives while investors wake up to the business opportunity.
“In just one year, we have raised a significant amount of capital, which testifies to the urgency of our mission and the enormous investment opportunity it represents. We believe the momentum behind plant-based living will continue to grow in both the private and public markets,” commented Lienhard.
Over 2020, plant-based firms globally received US$2.1 billion, representing a three-fold increase from the US$667 million figure of 2019, according to the sector-by-sector breakdown of alternative protein investments in a recent GFI report.
As part of Livekindly Collective’s latest investment led by The Rise Fund, Steve Ellis, the co-managing partner of the fund will be joining the board of directors. In a statement, Ellis said: “The company’s unique, mission-driven model operates across the entire value chain, from seed to fork, to drive worldwide adoption of plant-based alternatives and create a healthier planet for all.”
Lead image courtesy of Livekindly Collective.