Lever VC announced a $50 million first close for its Fund II, targeting early-stage agrifoodtech startups. The fund has attracted diverse investors and made initial investments in novel ingredients, agtech software, and meat alternatives. Managing partner Nick Cooney sees strong opportunities in food/ag despite the current challenging funding environment, citing large market sizes and consistent exits via acquisitions. The fund is focusing on large existing categories with high return potential, emphasizing revenue, profitability, and capital efficiency in its investment strategy.
Source: Lever VC announces $50m first close of agrifoodtech Fund II