Business
Investee Company Update: LIVEKINDLY Fundraise
Investee Company Update: LIVEKINDLY Fundraise.
About this update from Agronomics Limited
[{"type":"text","content":"\n \n \n \n RNS Number : 8666T\n Agronomics Limited\n 30 March 2021\n \n \n \n \n 30th March 2021\n \n \n \n \n \n \n Agronomics Limited\n \n \n \n (\"Agronomics\" or the \"Company\")\n \n \n Investee Company Update: LIVEKINDLY Collective $335 Million Series B Fundraise\n \n \n \n \n \n Agronomics, the leading listed alternative proteins company with a focus on cellular agriculture and cultivated meat, is pleased to announce portfolio company LIVEKINDLY Collective (\"LIVEKINDLY\") has closed a US$ 335 million funding round, inclusive of the US$ 135 million convertible loan note raised and announced in October 2020. \n \n \n Agronomics invested US$ 3 million in February 2020 and subject to audit, will now carry this position in its accounts at a book value of US$ 5.55 million. This represents a gain on cost of US$ 2.55 million and an IRR of 73%. \n \n \n The full announcement is set out below with no material changes or adjustments:\n \n \n LIVEKINDLY Collective Raises $335 Million to Accelerate Adoption of Plant-Based Living and Sustainability in the Global Food System\n \n \n \n \n \n Funding Round Led by The Rise Fund and Joined by Rabo Corporate Investments, S2G Ventures, Existing and Additional Mission-Aligned Investors\n \n \n \n \n \n Investment Brings Total Funding to More Than $535 Million in First 12 Months, Making LIVEKINDLY Collective One of the Top Three Highest-Funded and Fastest-Growing Plant-Based Food Companies\n \n \n \n \n \n March 29, 2021 \n \n \n \n \n \n NEW YORK - LIVEKINDLY Collective, a collection of heritage and start-up brands on track to become one of the world's largest plant-based food companies, today announced a successful capital raise led by The Rise Fund, the global impact investing platform managed by TPG. This round was joined by Rabo Corporate Investments, the investment arm of Rabobank, investing again in this round, S2G Ventures, and other existing and additional mission-aligned investors. \n \n \n \n \n \n This investment closes a growth funding round of $335 million, including $135 million converted from a prior round, bringing the total funds raised by LIVEKINDLY Collective in its first year to $535 million. With this latest investment, LIVEKINDLY Collective has become one of the top three highest-funded and fastest-growing plant-bas...