Clear Current Capital is expanding outside the US to fund early-stage sustainable impact-driven food tech companies.
Founded by Curt Albright, the firm has invested in 18 companies and implemented learnings and data to advance startups in supporting the alt-protein and foodtech space aggressively and successfully. As a result of these learnings, international markets have seen an increase in innovation, allowing them to fill white spaces.
The CCC invested in New School Foods in 2022 after initially backing Change Foods, an Australian/US precision fermentation dairy company. Founded by serial entrepreneur Chris Bryson, the Canadian startup has developed a new technology that produces proprietary muscles and fibers and scaffolding platforms for plant-based whole-cut salmon. It allows consumers to experience traditional seafood's flavor, texture, and experience.
CCC's Principal, Steve Molino, said, "While the food system is global, innovation and progress have varied across markets. Much of this work began in the US, but we've increasingly seen stronger opportunities internationally due to increased government support and changing consumer preferences. For instance, Protein Industries Canada has invested large amounts of non-dilutive capital in Canadian startups. Separately in Germany, consumers are clearly voting for sustainable foods with their wallets, as they consume record low levels of meat."
The latter has led CCC to recognize Berlin as a hot spot for innovation in sustainable food and their most recent investment in Nosh.bio, which develops novel fermentation-based ingredients that offer functionality, eliminate the need for chemical additives, and improve the health characteristics of plant-based products, as well as the capability of creating standalone products from just one ingredient.