One of Australia’s largest plant-based meat manufacturers, Fënn Foods, has secured investment from fund manager Bombora Investment Management.
Fënn Foods was founded by Michelin-star trained chef Alejandro Cancino on the Sunshine Coast in Queensland. Last year it was the first company to launch a certified Carbon Neutral Plant-Based Mince under its vEEF brand.
As well as Bombora, the company completed an oversubscribed private capital raising supported by existing and sophisticated investors.
Fënn Foods executive chair Nicholas Simms said the injection of funds would go towards further innovation, marketing, and production.
“It will allow us to enter new categories and explore distribution into select international markets,” Simms said.
Bombora Investment Management managing director and chief investment officer Mike Hill said, “The plant-based food market is growing rapidly both in Australia and globally and we see Fënn Foods as having a unique point of difference in this burgeoning market. The Company is positioned perfectly to take advantage of consumers growing demand for plant-based foods.”
In 2021, Fënn Foods named on the 2021 Australian Financial Review’s Fast 100 with its products now stocked in retailers including Woolworths and Coles.
