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LegalVision advises v2food on $72M Series B Plus

Announcement posted by LegalVision 18 Aug 2021

LegalVision has advised v2food on its successful $72 million Series B Plus raise. The money will help v2 continue its overseas expansion.

SYDNEY, AUSTRALIA: LegalVision has advised v2food on a A$72 million Series B Plus funding round. The business has now raised over $185 million, including a $77 million Series B round last year, the largest raise in Australia’s plant-based meat sector to date.

Investors in the Series B Plus round include European investment fund Astanor Ventures, Huaxing Growth Capital Fund, Main Sequence, and ABC World Asia.

Founded in 2019 with Australia’s national science agency CSIRO, Main Sequence Ventures and Jack Cowin’s Competitive Foods Australia as shareholders, v2food’s goal is to create a ‘version two’ of meat. This latest funding round will help v2 expand its operations in Asia and Europe.

The LegalVision team was led by Jill McKnight (Practice Leader) and supported by Sophie Mao (Senior Lawyer). LegalVision advised on all legal aspects of the investment, from structuring through to negotiation and closing the round.

“This Series B Plus round follows two consecutive years of noteworthy rounds,” said Jill McKnight. “The fact that v2food is attracting such high levels of funding during a global pandemic and economic uncertainty is a credit to their excellent product and hard work. 

“We are delighted to help v2 achieve its goals of expanding their operations overseas.” 

“This is our third successful raise with LegalVision and we look forward to continuing our thriving relationship,” said Nick Hazell, founder and CEO of v2food.

“Working with Jill and Sophie, we can always be assured of an exceptional level of service and practical and timely advice. We look forward to continuing to work with the high calibre LegalVision team during our next phase of growth.”

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