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Hill Dickinson advises UK bio-tech business Clean Food Group on investment by Clean Growth Fund

Hill Dickinson advises UK bio-tech business Clean Food Group on investment by Clean Growth Fund

Hill Dickinson has advised UK-based bio-tech business Clean Food Group Limited on a £2.5 million investment by Clean Growth Fund, a climate-specific UK venture capital fund.

The funding will be used to accelerate the commercialisation of Clean Food Group’s sustainable oils and fats technology. Clean Food Group’s go-to-market product is an equivalent to high oleic palm oil, supported by an externally validated LCA (life cycle assessment) which demonstrates it delivers a 90% reduction in greenhouse gases when compared with traditional palm oil. Clean Food Group’s oil has been designed as a drop-in ingredient that can be substituted in a number of consumables, including baked goods, confectionery and cosmetics applications.

Alex Neves, CEO and co-founder said: “The capital raised with Clean Growth Fund will allow us to accelerate the scale-up of our technology platform while advancing critical regulatory and commercial pathways, with a fully funded commercialisation plan in place well into 2025. We are delighted to be working with the Clean Growth Fund team, led by Beverley Gower-Jones, who is equally passionate about accelerating innovation to help address climate change and to create a healthier, more sustainable, global food system.” 

Beverley Gower-Jones OBE, founder and managing partner of Clean Growth Fund said: “Clean Food Group has an impressive team with a broad set of skills, and who established several significant industrial partnerships. Backed by a strong technical base, Alex Neves and his team are well placed to commercialise the manufacture of palm oil substitutes and therefore reduce the reliance the food industry has on the production of palm oil, an industry which is one of the main drivers of deforestation and a major contributor to global CO₂ emissions.  We are very pleased to support CFG’s development and growth.”

Michael Corcoran, a partner at Hill Dickinson and part of the firm’s national Venture Capital team advised Clean Food Group on the investment. 
 

Venture Capital and emerging companies

The specialist Venture Capital team at Hill Dickinson provides practical and targeted advice on fundraises for fast-growing companies, as well as a full offering of all other related legal services. Whether it be a Pre-Seed, Series A or Series E round, we will manage the legal aspects of the raise efficiently and diligently to ensure that the transaction is successful. We understand what’s important to the various stakeholders and are well-aware of the commercial intricacies involved.

We work closely with our specialist Private Equity team, which enables us to be perfectly placed to also advise on “later stage” rounds of investment all the way through to exit. Our vastly experienced team has successfully advised on transactions such as Insider North-West Dealmakers Awards’ ‘Deal of the Year’ 2021 in the £10 million to £50 million category, being the Private Equity Investment by LDC into vehicle accessory manufacturer, Rhino.  

We have established and preserve strong client relationships and our team boasts a commercial and pragmatic approach to the risks and rewards involved in a particular investment. We have strong links with venture capital investors and private equity funds which can help furnish opportunities and introductions for businesses seeking growth capital, regardless of their state of growth. 

As a firm, we are recognised in many sectors as being leaders in our field, with a particularly strong track record in technology, life sciences and healthcare. We have more than 150 lawyers in our Healthcare team and are leaders in sub-sectors such as medicinal cannabis and psychedelics. We have close relationships with entrepreneurs, universities (often acting in relation to their spin-outs), advisers and other stakeholders.  

We are a full service firm that clients can trust to look after all of their legal needs as they grow and we are conscious of costs needing to be appropriate for the particular stage of growth.  Whether it’s a funding round, the protection of intellectual property, taking on and incentivising staff or selling/listing a business, our specialist, experienced teams provide advice that will ensure it is a success. They know what is “market” and how clients can manage risk appropriately.  They don’t sit on the fence when giving advice and consider themselves to be on the same journey, alongside their clients.

We know that the end game is usually a sale or a listing, but that many unexpected events can happen along the way. Our Private Client team can ensure that your personal and family risks are covered off as best they can be so that you can concentrate on growing the business with peace of mind.