New venture capital firm Better Bite Ventures launches Tuesday with a $15 million fund, including an initial portfolio of 10 Asia Pacific (APAC) startups, harnessing plant-based and cellular agriculture technologies to create climate-friendly meat, dairy, egg and seafood alternatives that are better for people, animals and planet.

The fund, first of its kind dedicated entirely to alternative protein investments in APAC, is backed by leading impact investors, growth stage fund managers, family offices as well as food and tech entrepreneurs from Asia, the United States and Europe, Better Bite Ventures said in a statement.

It also said the fund invests primarily at founding, pre-seed and seed stages.

The opportunity for impact and growth is significant. Analysis from Johns Hopkins University shows that alternative protein products could save up to 93 percent in greenhouse gas emissions, 89 percent in water and 98 percent in land use, compared to conventional animal proteins. And per Boston Consulting Group, these new products could reach a size of over $290 billion by 2035 (11 percent of the overall protein market), with two-thirds of consumption coming from APAC.

Better Bite Ventures was created by Michal Klar and Simon Newstead, two APAC based operators turned impact investors. With a combined 20 years living plant-based and sector expertise including running the Future Food Now newsletter and Vegan Startup podcast, and a track record of investing and venture building in food and tech, both are keen to help power a new wave of APAC startups.

“We’re here to invest in bold founders building Asia’s future food-tech unicorns. Now is the time for Asia – we believe home-grown companies with local insights will take a leading role in this rapidly growing market,” said Michal Klar, General Partner of Better Bite Ventures.

“Having been founders ourselves, we know how helpful having truly supportive investors can be. Being responsive with founder-friendly terms, a lack of red tape and a focus on long term sustainability, we aim to be a trusted partner right from the start,” said Simon Newstead, General Partner of Better Bite Ventures.

Meanwhile, the launch portfolio includes emerging leaders in plant-based, cell-based, precision and biomass fermentation and molecular farming from food-tech hotspots China, Singapore, Indonesia and Australia.

These companies are Blue Canopy, CellX, Change Foods, Fable Food Co, Green Rebel Foods, Me&, Me atiply, Next Gen Foods, Umami Meats and one stealth molecular farming startup.

The Better Bite Ventures team also includes venture partner Sonalie Figueiras, Founder of Green Queen Media, a media platform and SourceGreenPackaging, a global marketplace for sustainable packaging.

“Having known Michal and Simon in the space for years, I know how switched on and impact driven they are. I’m delighted to join as a senior advisor and industry collaborator,” said Figueiras.

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