Aleph Farms Announces $105 Million Series B Funding Led by L Catterton
The Growth Fund of L Catterton, the largest global consumer-focused private equity firm, co-led, with DisruptAD, a $105 million Series B financing for Aleph Farms, the cultivated meat company that grows steaks directly from non-genetically modified animal cells. It also saw participation from existing investors as well as a consortium of leading global food and meat companies.
Aleph Farms will use the funds to execute its plans for large scale global commercialization of cultivated beef steaks and portfolio expansion.
DisruptAD's investment in Aleph Farms will also help bolster Abu Dhabi's long-term focus on food resilience. As a strategic partner to DisruptAD, Aleph Farms will evaluate the establishment of a manufacturing facility in Abu Dhabi to supply its cultivated meat products across the UAE and the broader GCC region.
Michael Farello, a Managing Partner at L Catterton's Growth Fund, said, "With cultivated whole-muscle cut steaks, an optimized platform for cost parity at scale, and a global partnership network with the world's largest meat producers, Aleph Farms has differentiated itself as the leading cultivated meat company poised to go to market. We are excited to support their success as they prepare for global launch, and we look forward to leveraging our significant expertise in food and sustainable businesses that meet the needs of a changing consumer and a changing world."
Barack Ferrazzano acted as counsel in advising L Catterton and DisruptAD in this transaction. Barack Ferrazzano's team was led by Andrew R. Grossmann and Megan Ratia. Intellectual property matters were handled by Scott J. Slavick and David H. Bluestone.
To read more about this transaction, visit: https://www.prnewswire.com/de/pressemitteilungen/aleph-farms-completes-105-million-series-b-funding-round-869884289.html
About Aleph Farms
Aleph Farms grows beef steaks, from non-genetically engineered cells isolated from a living cow, without harming animals and with a significantly reduced impact to the environment. The company was co-founded in 2017 by Didier Toubia, The Kitchen Hub of the Strauss Group, and Professor Shulamit Levenberg from the Biomedical Engineering Faculty at the Technion - Israel Institute of Technology.
To learn more about Aleph Farms, visit: www.aleph-farms.com