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FINANCE | Investment Firms & Funds
ahreninnovationcapital.com

Investments

23

Portfolio Exits

1

Funds

1

About Ahren Innovation Capital

Ahren Innovation Capital is an investment institution that supports transformational companies at the cutting edge of deep science and deep tech.

Headquarters Location

23 Berkeley Square

London, England, NW86EL,

United Kingdom

+44-7711683653

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Latest Ahren Innovation Capital News

New Culture Appoints Mark Ramadan To Board of Directors

Jan 25, 2023

Jan. 25, 2023 at 10:04 AM SAN LEANDRO, Calif.— New Culture, a pioneering animal-free dairy company, announced the appointment of purpose-driven leader Mark Ramadan to its Board of Directors. Ramadan is the CEO of Hu, the leading better-for-you chocolate brand in the U.S. He first made his mark on the food world as co-founder and CEO of Sir Kensington’s, a Certified B Corporation that produces globally-inspired condiments that bring integrity and charm to ordinary and overlooked food. “I’ve spent the past 12 years building brands and businesses that aim to improve the world through food, and I couldn’t be more energized by New Culture’s approach to doing just this,” said Ramadan. “My experience in food has taught me that the best way to help people make better choices for themselves and the planet is to ask for no sacrifice in the actual tasting experience. What New Culture is doing – making cow cheese without the cow – seems to be the best possible solution for giving all of us the delicious, melty cheese we want, while creating significantly less impact to our planet.” The appointment marks the next step in New Culture’s mission to launch products that are better for us, our planet and our food systems. Using precision fermentation, the company is making animal-free dairy products that are indistinguishable from conventional products in taste, texture, function and nutritional content, while also radically reducing water, land, energy and greenhouse gas emissions. New Culture is slated to start public tastings this year, beginning with its animal-free mozzarella, and launch in pizzerias in early 2024. “Mark’s experience in successfully launching and building iconic and mission-driven food companies makes him a perfect fit for our board, especially since we’re now gearing up for our own launch,” said Matt Gibson, co-founder and CEO of New Culture. “Our mission is to lead the global change to an animal-free dairy future and it is a testament to the team and what we have achieved so far that Mark is joining us to accelerate this mission.” New Culture’s board includes members Michael Berolzheimer, founder and managing partner of Bee Partners; David Delfassy, investor at Ahren Innovation Capital; Vince Garlati of Evolv Ventures backed by Kraft Heinz; Arvind Gupta, founder of IndieBio and partner at Mayfield fund; and Harry Kalms of CPT Capital. “Mark has a proven track record as a founder and entrepreneur, having scaled multiple innovative food businesses through to successful exits to global food enterprises,” said Delfassy at Ahren Innovation Capital. “Mark brings excellent experience in company building, early-stage financing, and commercialization through both foodservice and retail. I am delighted that Mark is joining the New Culture Board of Directors and I look forward to his contributions.” New Culture announced a $25 million Series A investment round in November 2021. The company’s investors include global food companies Kraft Heinz (Evolv Ventures) and ADM (ADM Ventures); leading venture capital firms Mayfield, Future Ventures, Ahren Innovation Capital, and SOSV; and leading food tech VCs S2G, CPT Capital, and Be8 Ventures. Since then, they have received investments from Korean conglomerate, CJ CheilJedang, and others to aid in efficiently and scalably using precision fermentation to produce casein protein and animal-free cheese. About New Culture New Culture is leading the global movement to an animal-free dairy future. We make animal-free dairy products that stretch, melt, and taste like the real deal. By combining traditional cheese-making methods with innovative food science, New Culture offers cheese that’s kinder on animals, the planet, and human health. With New Culture’s groundbreaking science, any cheese is possible and can be made completely animal-free. In other words: cow cheese without the cow. The future of dairy is here—and it’s delicious. For More Information:

Ahren Innovation Capital Investments

23 Investments

Ahren Innovation Capital has made 23 investments. Their latest investment was in Zoe as part of their Series C on December 12, 2022.

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Ahren Innovation Capital Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

12/1/2022

Series C

Zoe

$30M

No

3

10/17/2022

Series B

Ambi Robotics

$32M

Yes

19

8/15/2022

Seed VC

Constructive Bio

$15M

Yes

4

7/15/2022

Series A

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$99M

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10

7/12/2022

Series B

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$99M

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10

Date

12/1/2022

10/17/2022

8/15/2022

7/15/2022

7/12/2022

Round

Series C

Series B

Seed VC

Series A

Series B

Company

Zoe

Ambi Robotics

Constructive Bio

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Amount

$30M

$32M

$15M

$99M

$99M

New?

No

Yes

Yes

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Co-Investors

Sources

3

19

4

10

10

Ahren Innovation Capital Portfolio Exits

1 Portfolio Exit

Ahren Innovation Capital has 1 portfolio exit. Their latest portfolio exit was Rockley Photonics on March 19, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

3/19/2021

Reverse Merger

$99M

4

Date

3/19/2021

Exit

Reverse Merger

Companies

Valuation

$99M

Acquirer

Sources

4

Ahren Innovation Capital Fund History

1 Fund History

Ahren Innovation Capital has 1 fund, including Ahren.

Closing Date

Fund

Fund Type

Status

Amount

Sources

7/2/2019

Ahren

Multi-Stage Venture Capital

Open

$252.2M

3

Closing Date

7/2/2019

Fund

Ahren

Fund Type

Multi-Stage Venture Capital

Status

Open

Amount

$252.2M

Sources

3

Ahren Innovation Capital Team

2 Team Members

Ahren Innovation Capital has 2 team members, including current Founding Partner, Managing Partner, General Partner, Alice Newcombe-Ellis.

Name

Work History

Title

Status

Alice Newcombe-Ellis

TPG Capital, and Lansdowne Partners

Founding Partner, Managing Partner, General Partner

Current

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Name

Alice Newcombe-Ellis

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Work History

TPG Capital, and Lansdowne Partners

Title

Founding Partner, Managing Partner, General Partner

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Status

Current

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