Joyful Ventures, a new LA-based venture capital fund, raised an initial close of $23 million. They’re just trying to get to their $25 million goal for the fund. Business leaders Jennifer Stojkovic, Milo Runkle, and Blaine Vess started the fund with a new vision. Their goal is to create the world’s first profitable and plant-based healthy sustainable protein. If climate-focused initiatives are a priority, it only takes about half of the fund—which is still a significant amount—to get into this sector.
Stojkovic, the founder of the Vegan Women Summit, comes to the fund with a wealth of knowledge. Her expertise with plant-based initiatives makes her a truly invaluable asset. Runkle, who is co-founder of The Good Food Institute, brings his in-depth knowledge of food systems and sustainability to the mix. Vess is a two-time exited founder. He applies his decades of experience in building, scaling and exiting companies to steering Joyful Ventures’ investments towards sustainable impact.
Joyful Ventures ranked as one of a few women- and LGBTQIA+-led funds. We believe this leadership speaks further to their earnest desire to diversify and improve the investment landscape. The fund’s explicit aim is to invest in the companies that can successfully disrupt a century-old food system still heavily reliant on animal products. Joyful Ventures is a mission-driven investor investing in transformative, innovative, joyful, inclusive startups. These biotech startups manufacture scientific replacement food ingredients that replace the animal component altogether, in the process catering to the luxury cosmetic industry.
Already, Joyful Ventures has made significant strides by investing in two promising startups: New School Foods and Orbillion Bio. New School Foods based out of BC, recently raised $12 million to develop plant-based salmon. This novel approach highlights Joyful Ventures’ commitment to investing in companies that have the potential to disrupt legacy food categories. Orbillion Bio specializes in cultivated Wagyu beef and other premium products, showcasing the potential for lab-grown meat to enter high-end markets.
The fund aims to build companies with multiple revenue streams, recognizing that diversified business models enhance the likelihood of success. Joyful Ventures is producing innovations that could disrupt the food industrial complex. Their mission is to address the world’s most pressing environmental challenges while producing compelling, sustainable returns for their investors.
Joyful Ventures is further complemented by a network of advisors and investors who help bring even more expertise to the table. It is remarkable figures like fennel that really propel the mission of producing and innovating with sustainable food forward. Those named include our own Björn Öste, Dr. Sandhya Sriram, Ryan Bethencourt, and Arturo Elizondo.