5 Celebrities Investing in Vegan Food Businesses
/The global vegan food market is stronger than ever before. In fact the market is expected to reach $31.4 billion by 2026, registering a CAGR of 10.5% from 2019 to 2026. So it’s easy to see why many wealthy celebrities are investing in vegan food businesses. Here we take a look at which celebs are giving the plant-based market a boost.
1. Rihanna (Partake Foods)
In January of 2021, pop star Rihanna invested in Partake Foods, a Black-owned allergy-friendly food brand which produces healthy, vegan cookies. “The demand for thoughtfully-made cookies, snacks, and treats is clear, and we are excited to continue to provide plant-based, safe, and crave-worthy foods to consumers”, explains Partake's CEO, Denise Woodward. The Partake Foods brand closed a $4.8 million Series A fundraising round, with an undisclosed portion of this funding coming from Rihanna. The “Diamonds” singer has a net worth of $1.7 billion, so her investment is surely a drop in the ocean.
2. Meghan Markle (Clevr Blends)
Meghan Markle, AKA The Duchess of Sussex, invested in instant oat-milk latte company, Clevr Brands, in late 2020. “This investment is in support of a passionate female entrepreneur who prioritizes building community alongside her business,” Meghan said in a statement to Fortune. Clevr Brands SuperLatte Gift Set even recently won a coveted spot on Oprah’s 2021 Favourite Things List.
3. Leonardo DiCaprio (Aleph Farms and Mosa Meat)
A-list actor, Leonardo DiCaprio, has put his own money on the line in pursuit of environmental sustainability. His investment in Aleph Farms and Mosa Meat proves his committed to the development of cultured meat products; cell-based, or clean meat, which is grown from animal cells in a laboratory. In a statement the actor explains, “One of the most impactful ways to combat the climate crisis is to fundamentally reshape our global food system. Mosa Meat pioneered a cleaner, kinder way of making real beef with the world’s first cultivated beef burger in 2013.” DiCaprio is also an investor in other vegan brands, namely Califia Farms and Hippeas.
4. Roger Federer (NotCo)
Tennis star, Roger Federer, has invested in Chilean plant-based company NotCo. The food tech firm is backed by Amazon’s Jeff Bezos, and has raised $235 million in its latest funding round that also included Formula 1 driver, Lewis Hamilton. The plant-based food company, which produces plant-based milks, burgers and ice cream, is now valued at a staggering $1.5 billion.
5. Natalie Portman (Oatly)
Oscar winner, Natalie Portman, is a long term vegan, which might be the reason why she’s backed dairy-free brand, Oatly. This Swedish food company was recently valued at $2 billion. “We don’t look at ourselves as a food company. I think that’s the difference between us and the competition. We are a sustainability company that makes oat milk, which is a different angle”, declares Oatly CEO Toni Petersson. As the vegan food market continues to grow exponentially, it seems likely that more and more big names will be investing in vegan products and companies in future.
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