How can you raise capital for your start-up or existing company in this restrictive economy? It is what is on almost every founder’s mind. Jeffrey Harris, CEO of Green Venture Advisory, joins Elysabeth today on the Plantbased Business Hour with Elysabeth Alfano to talk about the three things you need to know.
Specifically, we discussed
- What do start-ups/brands need to focus on to successfully raise capital?
- What are VCs and angels – if anything – focusing on before they invest?
- What have founders and investors learned in the past two years?
- What are top mistakes on both sides?
- What deals have taken place and are we coming out of the investment slump?
Below is a highlight clip and transcription from our long-form conversation.
Elysabeth: I want to bring on my guest today, the CEO of Green Venture Advisory, Jeffrey Harris.
Let’s talk about silver linings. Are there any?
Jeffrey Harris: Absolutely! There’s a lot of research that indicates that plant-based worldwide globally will grow to close to $87 billion in 2032. In 2022 it was about $39 billion.
So this goes back to the tech bubble thing that you just mentioned. So everyone threw their money at all of these tech companies and computer companies and this was all going on and then that bubble burst and people wondered, “Will people ever really use personal computers and is this internet thing really going to happen?” Well of course it is! That new technology was going to transform our planet and the fact that there was a bubble was not indicative of the fact that there was this massive value being created with the technology.
In the same way, I really believe that a plant-based future is absolutely a requirement for our planet. I know that there’s the cultivated meat dimension as well and there’s all sorts of other things that we have to do to address climate change, but the most significant thing we can do to address climate change is to have more and more of the population eat plant-based which happens to be a huge benefit for their health and their wellness which for me happens to be a huge benefit for the animal welfare. So I still believe that plant-based is the future and if the market gets corrected, it doesn’t mean that there’s not a massive value in plant-based foods or in growing consumer interest.
I do want to say that as a vegan I’m always going around and going, “Where are all the vegan restaurants?” I left LA the other day and I was up in Santa Barbara. A lot of the restaurants I went into had vegan options, more so than ever before and it’s not just the Beyond burger or the Beyond chicken or the Impossible burger. I’m seeing more and more vegan options out there and entrepreneurs in brick and mortar are understanding that to attract the entire family they need to add more plant-based options.
Even years ago, having been a vegan for a long time, I would go to Whole Foods or Sprouts to get this stuff. But I can go into Grocery Outlet which is not a high demographic here in Los Angeles or Ralphs or Albertsons or any of these other places and I can find a ton of plant-based products. So I think that indicates that there’s a lot of growth. There’s a lot of people out there buying that stuff.
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