Cathay Pacific parent Swire, TPG invest in plant-based food firm Green Monday’s US$70 million funding round

Name: 3D printouts of plant-based meat could become alternative food for world’s population
Uploaded: 2020-09-22T05:05:59.000Z
Duration: 1 min 36 s
Description: 3D printouts of plant-based meat could become alternative food for world’s population

Fundraising is the largest of its kind in Asia to date, according to plant-based pork maker

Taiwanese-American actor and singer Wang Leehom among investors in company’s fourth round of fundraising

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David Yeung, co-founder of Green Monday Group, plans to use proceeds from its US$70 million fundraising to expand its production and retail network, including opening its first Green Common flagship location in Shanghai this year. Photo: David Wong

Chad Bray

Published: 1:05pm, 22 Sep 2020Updated: 1:05pm, 22 Sep 2020

Plant-based food company Green Monday Holdings, whose investors include filmmaker James Cameron and British photographer Mary McCarthy, raised US$70 million in a new funding round led by private equity firm giant TPG’s The Rise Fund and Hong Kong conglomerate Swire Pacific.

It is the latest fundraising in the plant-based food space as investors in Asia this year bet on the future of the growing list of healthy alternatives for meat eaters.

Green Monday Holdings, part of Hong Kong’s Green Monday Group, said the fundraising was the largest of its kind in Asia to date and its fourth to date. The company operates OmniFoods, the maker of plant-based pork alternatives, and Green Common, an operator of plant-based food stores and restaurants.

Investor and consumer interest in alternative protein products has skyrocketed this year against the backdrop of the coronavirus pandemic and concerns about food safety sparked by African swine fever and other incidents, according to David Yeung, Green Monday Group’s co-founder and chief executive.

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3D printouts of plant-based meat could become alternative food for world’s population

“It is very important for us to find partners that share the same mission,” Yeung told the Post. “We’re here to grow the business, but we’re equally here to grow the impact. We are trying to create [a] behaviour shift, [a] mindset shift and the overall awareness that we have a sustainability problem globally. From corporates to governments to individuals, we all have to make decisions in terms of changing mindsets and behaviours.”