Cultivated, Cell-Cultured & Biotechnology

Investment Climate Podcast: Steve Simitzis of Solvable Syndicate – How to Get Funded in 2024

In this podcast series, co-produced by vegconomist, Alex Shandrovsky interviews investors about benchmarks for funding Alt Proteins in 2024 and uncovers the investment playbooks of successful Climate Tech CEOs and leading VCs.

Podcast Host Alex Shandrovksy is a strategic advisor to numerous global food tech accelerators and companies, including alternative proteins and cellular agriculture leaders. His focus is on investor relations and post-raise scale for agrifood tech companies.

Episode 07: Steve Simitzis of Solvable Syndicate 

In this episode, Alex talks to Steve Simitzis, Partner of Solvable Syndicate which invests in early-stage food tech startups from pre-seed to Series A, with a focus on companies promoting human and planetary health.

Steve explains the benefits of syndicates for both founders and angels, shares insights into the current state and future of food tech, and offers advice for founders on effective fundraising and navigating challenges in the startup ecosystem.

Key Facts Solvable Syndicate:

  • Goal: To invest in early-stage FoodTech and AgTech startups that advance a sustainable, nourishing food system.
  • Check Size: $100K to $200K

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Alex’s Top Findings:

  1. Effective fundraising materials. Founders need to have compelling pitch decks and data rooms to attract investors. Providing straightforward advice on the investability of startups, while encouraging alternative paths if traditional VC funding is not viable. Founders need to keep working on their vision, possibly through other revenue channels or partnerships, even if immediate VC funding is not available,
  2. Market positioning. Founders must market their startups effectively to potential investors, emphasizing the potential impact on climate, land use, and water resources, as well as demonstrating strong business fundamentals.
  3. Business viability. Founders must find ways to generate revenue, lean down operations, or explore partnerships to sustain their startups, especially when facing difficulties in raising funds. Determining whether it’s the right time to continue pursuing the startup or pivot to other opportunities is a critical decision that founders must make, often with limited guidance.
  4. Syndicate advantage for angels. Reduces the burden of due diligence and deal sourcing. Offers access to curated and vetted investment opportunities. Allows for collaborative investment without the need for individual negotiation.
  5. Syndicate advantage for founders. Simplifies the cap table by aggregating multiple small investments into a single entity. Provides structured, vetted deal flow, increasing chances of securing funding. Helps in managing and coordinating smaller investments effectively, avoiding logistical issues.

Find parts one, two, three, four, five, and six by clicking on the links.

>> Click here to go to Cultivated X where you will see a familiar layout and a focus solely on content regarding cellular agriculture, including fermentation-enabled products, and with more granular categories.

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