Green Monday Holdings (“the Company”), Asia’s plant-based food leader, today announced that it has raised US$70 million in financing led by TPG’s The Rise Fund and Swire Pacific Limited.
The round, which is the largest of its kind to date in Asia, received strong support from new investors across multiple geographies, including institutional investors CPT Capital, Jefferies Group and Sino Group’s Ng Family Trust. Internationally renowned artist Wang Leehom and Room to Read Founder and impact investor John Wood also joined as new investors. They join existing investors including Lee Kum Kee Health Products Group’s Happiness Capital and individual investors such as James Cameron, Mary McCartney and Susan Rockefeller. The overwhelming interest from investors globally reflects a rising awareness for plant-based diets as the solution to pressing global issues and a growing demand to tap into the market potential brought by the confluence of global consumer trends towards sustainability and conscious consumption.
David Yeung, Co-Founder and CEO, Green Monday Group, said, “We are delighted to be partnering with global leading institutions and investors who share our vision and are aligned in solving some of the planet’s most imminent challenges like climate change, public health and food crises not only here in Asia but also worldwide. Now with TPG’s The Rise Fund, Swire Pacific and our other mission-aligned partners, we are another step closer to achieving our common goals.” Green Monday Holdings, part of the Green Monday Group, operates OmniFoods and Green Common to enable a revolutionary food paradigm. OmniFoods is a food tech company that produces innovative alternative protein products including OmniPork, OmniPork Luncheon, OmniPork Strip and OmniEat. Green Common provides a total plant-based food retail, distribution and dining operation. The Company seeks to create a one-stop future food hub, from research & development to retail and distribution, in order to promote plant-based eating and environmental protection. Green Monday Group is honoured to be named to Fortune’s 2020 “Change the World” list.
“Green Monday is one of the first movers in Asia within the rapidly growing global plant-based protein market,” said Chang Sun, Managing Partner of TPG China where he oversees TPG’s investment activities in the region, including The Rise Fund’s. “In addition to developing a diverse portfolio of versatile meat alternatives, Green Monday has become Asia’s biggest wholesale plant-based product distributor to retail and foodservice partners. We look forward to working with David and his team to further develop Green Monday’s product offering, expand their reach, and deepen the consumer’s strong connectivity to Green Monday’s mission towards a more sustainable future.”
“The production of plant-based protein is more sustainable, less resource intensive, and better for the environment than farming livestock for meat-based proteins,” said Maya Chorengel, Co-Managing Partner of The Rise Fund. “We are excited to help Green Monday scale its impact by introducing consumers across Asia to a growing selection of high quality, great-tasting protein alternatives. Green Monday has created an indelible lifestyle brand in Asia and its commitment to tackling climate change makes it a natural partner for The Rise Fund.”
David Cogman, Development Director, Swire Pacific Limited, said, “What excites usabout Green Monday is that it’s a company with a vision and mission that we share. Our airline Cathay Pacific has been serving OmniPork onboard and we look forward to working together further to develop new menus to suit the taste of our passengers – many of whom have a deep interest in health, wellness and environmental sustainability. We are also in discussion about working together on the retail front: we have a network of malls, hotels and food and beverage businesses in Hong Kong and on the Chinese mainland, as well as associated supply chain operations across the country. We are very excited about our partnership with David and Green Monday to develop new collaborations across our group companies, to make our shared vision a reality.”
Wang Leehom, an internationally renowned artist, said, “Finally, thanks to David and his team at Green Monday, delicious Chinese cuisine that is loved worldwide can now be enjoyed using OmniPork, a completely plant-based pork that is good for our health, good for the planet, and yummy in the tummy!”
Green Monday Holdings will use the capital to enhance its R&D efforts for more innovative plant-based food products, boost production, distribution and supply chain capabilities, scale up the retail network, and strengthen partnerships with F&B brands. In the next six months, the Company aims to:
• Expand its global presence from the current 10 markets to over 20 markets across Asia, EMEA and North America to capture market growth potential.
• Increase point of sale operations from its current about 20,000 to over 40,000 worldwide.
• Launch Green Common flagship stores in strategic locations across China and Singapore.
• Become a turnkey partner to facilitate and accelerate the penetration of plant-based options into Asia and beyond.
“We believe business can change society for the better. We aspire to be a global catalyst in ESG and social impact that excels not just in the food arena but also in the business world,” David Yeung asserted.