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New Deal


Announced

Completed

Balderton Capital and Lowercarbon Capital led a $30m Series A funding round in Higher Steaks.

Financials

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Transaction Value£24m
Consideration TypeCash
Capital Owned-
Capital Bid For-
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Sources

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Tags

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Minority

Acquisition

Completed

Friendly

Single Bidder

Cross Border

Private Equity

United Kingdom

biotechnology

Biotechnology

Venture Capital

free-of-antibiotics meat

Private

Synopsis

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Balderton Capital, an early-stage venture capital investor, focused exclusively on European-founded technology companies, and Lowercarbon Capital, a company that funds research and invests in technologies to reduce CO2 in the atmosphere, led a $30m Series A funding round in Higher Steaks, a company which uses state-of-the-art cell culture techniques to grow free-of-antibiotics meat in a sustainable manner, with participation from Sam Altman, Max Altman, Redalpine, East Alpha, Miray Zaki and Sebastiano Castiglioni. The company said that it plans to use its fresh cash injection to scale up production and kickstart its regulatory approval process in Europe and Singapore, while keeping a “close eye” on the US market.

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