Unovis Finalizes Investment in Green Butcher, Indonesia’s First Plant-Based Meat Producer
Seed funding will support expanded R&D and upcoming launch into mainstream retailers
Unovis Asset Management is pleased to announce the closing of its investment in Indonesia-based startup, Green Butcher, which is developing plant-based alternatives to chicken and beef using natural, whole food ingredients. The seed round funding will be used to support additional R&D hiring and help Green Butcher scale up its production in anticipation of a launch into mainstream retailers in Q2 2021, including a new partnership with Starbucks Indonesia beginning this month. Unovis made this investment through its New Crop Alternative Protein fund.
“Green Butcher is doing important work in Indonesia and we are honoured to be able to support their ongoing growth and development in an often-overlooked segment of the alternative protein market,” said Kim Odhner, Managing Partner, Europe & Asia, with Unovis Asset Management. “Helga Angelina and the entire team have made impressive progress over the past year, and Unovis aims to leverage its unique experience and industry position to help launch this innovative plant-based powerhouse to a global audience.”
Founded by Max Mandias and Helga Angelina, the co-founders of Burgreens, the largest plant-based restaurant chain in Indonesia, Green Butcher is creating plant-based products that are specifically developed to go well with Asian comfort food. Their signature products include Chick’n Satay, Chick’n Karaage, Beefless Chunks, Beefless Rendang, and Shroom Balls – all ready-to-cook.
“We’re seeing increased interest in plant-based foods across Asia,” said Helga Angelina, co-founder and CEO, “and by focusing on the unique culinary experiences of Indonesia and South East Asia we hope to recreate many local favourites using ingredients like mushrooms,GMO-free soy, chickpea, and seitan instead of meat. This investment will help us take advantage of the opportunity we see to become the leading consumer brand for plant-based foods that are tailored to the Asian palette.”
Added Chris Kerr, Unovis Founding Partner and Chief Investment Officer: “Unovis’ mission is to transform the global food system by investing in solutions that facilitate sustained behavioral change and reduce dependence on animal protein products. We are focused on disrupting the $1.7+ legacy protein market by supporting the companies that are developing animal-free alternatives from seed to growth stage, supporting founders post-investment by sharing our culinary knowledge, understanding of consumer habits, experience in food manufacturing, and network of industry experts to de-risk investments and build lasting companies.”
Unovis Asset Management is a global boutique investment firm and leader in the rapidly developing alternative protein space. The Unovis team has the longest and most comprehensive investment track record in the alternative proteins sector and an impressive ROI through our renowned first fund, New Crop Capital. Our team views conventional animal agriculture as an antiquated and inefficient food production system with serious ESG vulnerabilities that make it ripe for large-scale disruption and innovation. That is why inspiring entrepreneurs and fueling innovative ideas is at the heart of what we do. Learn more
About Green Butcher
Green Butcher is Indonesia’s first plant-based meat company focusing on Asian flavored products. Its aim is to provide a meaty experience that offers high protein, no cholesterol, less saturated fat, and less natural resource use compared to animal products. Made by the chefs, food technologists, and nutritionists behind the Burgreens brand, Indonesia’s largest plant-based eatery chain, Green Butcher creates proteins with maximum health benefits minus the carbon footprint. Learn more