Asia-Pacific

The company behind novel food products such as the mammoth meatball and quail parfait appeals to investors because it has no intention of replacing conventional meat.

The fund's investors include British International Investment, the Dutch entrepreneurial development bank FMO, IDB Invest, International Finance Corporation and Mastercard.

Venture firms worldwide closed on $15bn in the first quarter. It was their smallest fundraising haul since Q3 of 2017.

For new investments in Malaysia and other countries, the global venture fund has partnered with a sovereign wealth fund that shares its interest in applying digital technology to clean energy, healthcare and education software.

The fund will back tech-enabled businesses in Indonesia and Southeast Asia.

The government also created the Powering Australia Technology Fund, which has the capacity to make venture, growth equity and fund investments and provide development capital.

Venture Capital Journal surveyed 117 institutional investors worldwide to find out what is most – and least – important to investors in venture funds.

Investors in the new funds include California Public Employees' Retirement System, New Mexico State Investment Council, Alaska Permanent Fund and the Fire and Police Pension Association of Colorado

Venture funds worldwide raised a combined $58.1bn in the first half of 2023, down from about $100bn in the first half of last year, according to exclusive Venture Capital Journal research.