Clay Capital partner Gerard Chia / Photo credit: Clay Capital

VisVires New Protein, an impact investor, has rebranded to Clay Capital and closed its second fund at US$145 million.

The company aims to support foodtech and agritech startups across Europe, Israel, and Asia that are working to improve nutrition as well as sustainability and circularity in food production.

Through the new fund, Clay Capital plans to back up to 15 startups across the early, series A, and growth stages. Check sizes will range from US$3 million to US$8 million per round, with some capital reserved for follow-on investments.

Since its start in 2014, Clay Capital has invested in various companies that contribute to making the food system more efficient and sustainable. These include Ynsect, an insect-protein producer, and cultured meat company Aleph Farms.

As an impact investor, Clay Capital told Tech in Asia its investment policy is a three-stage process. This involves pre-investment evaluations, due diligence, and annual reporting from their end on the performance of its portfolio companies.

Right now, the company is focused on solutions making the existing food system more sustainable and scalable. Its current research efforts are centered around plastic and packaging alternatives, fermentation, agricultural biology, crop disease resistance, soil health, and regenerative agriculture.

Clay Capital is headquartered in Singapore but also has a team based in London. The VC firm serves as a bridge between the Asian and European markets, offering startups access to growth opportunities in both regions, said Gerard Chia, partner at the company.

The company said that while it takes a global view, it is more focused on the European market with largely local investors. But the company said that Singapore’s “progressive focus on food system innovation and supportive regulation” supports its goals of facilitating Asian expansion through the city-state for its portfolio firms.

Clay Capital said it has a total of US$200 million in assets under management. Its portfolio companies have also collectively secured over US$1 billion in additional private financing.

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