Investment Focus:
- Stage: Early-stage, technology-driven companies
- Fund Size: $500M
- Industry Verticals: Foodtech, Cellular Agriculture, Ag Tech
- Geographies: Global (North America, Europe, Asia, Latin America, GCC)
- Portfolio Companies: NuCicer, HerdDogg, Birdman, Boston Bioprocess
______________________________________________________________________________________________________________________
Brighter Future had the great pleasure to speak with Nick Cooney, managing partner of Lever VC. Lever VC has a wide portfolio, and it so happens we spoke with one of its investees in the past with our Origin Story Series interview of Paul Shapiro, CEO of The Better Meat Co.
At Lever VC, Nick Cooney brings nearly two decades of experience in the food and agriculture space to his role as managing partner. His journey spans his entire professional career, with the last nine years focused on investing. This extensive background has given him a nuanced understanding of the industry's challenges and opportunities.
Lever VC, under Nick's leadership, focuses on early-stage investments across a wide range of categories within the food and agriculture sector. Their portfolio is diverse, encompassing plant-based and alternative proteins, seed genetics, novel food ingredients, and the digitisation of ag tech. When we asked Nick about his investment focus, he explained that they targeted “early-stage food and ag tech, emphasising technologies, ingredients, or products that enhance sustainability, often health, and sometimes offer cost reduction and economic benefits."
Nick’s investment philosophy is shaped by a keen awareness of global economic trends. In response to recent changes in capital flow, Lever VC has adapted its approach, paying closer attention to burn rates and runway when investing. They've also leveraged market conditions to secure better deals with more investor-protective terms.
Over the course of our conversation the subject of how to evaluate potential investments was raised. Nick told us he places a high value on founder quality, looking for intelligence, pragmatism, work ethic, and openness to new ideas. He seeks out projects that are best-in-class within large geographic regions or globally, with technologies that provide notable improvements in quality, cost, or other significant consumer benefits.
One of the standout investments in Lever VC's portfolio is Birdman, a Mexican company producing plant-based protein powders and nutritional supplements. Since Lever VC's initial investment, Birdman has achieved over 4x revenue growth, maintained profitability, expanded its product range, and entered the U.S. market.
Nick's approach to supporting portfolio companies goes beyond mere financial investment. Lever VC actively assists its companies with strategic advice, fundraising guidance, and market expansion support. Nick also told us he’s willing to back both first movers and later entrants with breakthrough technologies— with the advantage to this being that Lever VC is then able to capitalise on more varied market opportunities.
Another question we asked related to investment sectors that might be underappreciated. Nick said that food and ag areas are generally underinvested, “particularly certain niches. It's the best example of an underappreciated sector." This conviction drives Lever VC's focus and highlights Nick's unique approach to identifying investment opportunities.
Nick’s commitment to sustainability and climate change mitigation is evident in his investment thesis, and he identifies alternative proteins as a key area for combating climate change, citing their potential for significant impact. This aligns with Lever VC's broader mission of supporting technologies that enhance sustainability in the food and agriculture industry.
As our conversation drew to a close, we asked Nick about the role of major corporations in fighting climate change.
"Generally, individuals and companies should aim for a positive world impact,” he said. “Companies, being collections of individuals, should take a comprehensive view of their impact— considering both positives like job creation and negatives."
It seemed clear that through Lever VC, Nick is actively shaping the future of food and agriculture. His emphasis on sustainability, coupled with a pragmatic approach to investing, leaves him extremely well-positioned in the transition to more sustainable and efficient food systems.
As the global community grapples with the challenges of climate change and food security, investors like Nick Cooney and firms like Lever VC will undoubtedly play a crucial role in fostering the innovations needed to create a more sustainable and prosperous future.
From all of us at Brighter Future, we thank Nick enormously for his time, and we wish Lever VC nothing but the greatest success in the years to come. To learn more about Lever VC, please visit www.levervc.com.
.jpg)
