Episode #09: Nick Cooney, Lever VC

Today on Subscribing to Wellness we are joined by Nick Cooney, the Founding and Managing Partner at Lever VC, a venture capital fund investing in early stage companies in the alternative protein sector with a focus on plant-based and cultivated meat, egg and dairy companies, and more. Nick has been working in the alt protein space for over 15 years and was the Co-Founder and former Managing Trustee and Investment Committee member of the New Crop Capital venture capital trust as well as the Co-Founder and former Board Chair of the Good Food Institute, the world’s largest non-governmental organization working to grow the alternative protein space. Nick has invested in over 40 alternative protein deals around the world, including Beyond Meat, Memphis Meats, and other market leaders with combined value of over $7 billion USD.

Episode Fun Facts:

1) ~$3 bio USD invested in Alt Protein category in 2020. 2) Lever VC is a truly global Alt Protein investor with operating partners North America, APAC, and Europe. 3) From 2018 to 2020, investments in alternative protein companies in Israel increased 8x, from ~$14 million in 2018 to ~$114 million in 2020. 4) First mover advantage is nice but many momentous late-mover startups in the plant-based sector owe Beyond Meat & Impossible Foods a "thank you" for the mass awareness the incumbents have driven for the category. 5) Consumer retention in alt-protein is still largely driven by taste but ingredient list / label is gradually becoming top of mind as an additional driver of purchase intention. 6) Nick is a published author: check out Veganomics, Change of Heart, and How to Be Great At Doing Good