Announcement posted by LegalVision 18 Aug 2021
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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LegalVision is a market disruptor in the commercial legal services industry. Their innovative business model and custom-built technology assist their lawyers to provide a faster, better quality and more cost-effective client experience. LegalVision is a leader in delivering legal services in Australia and New Zealand and has assisted more than 150,000 businesses. The firm was named Law Firm of the Year at the Australasian Law Awards.