Mirae Asset Financial Group has completed its investment as a lead investor in a $500 million investment round by U.S. startup Impossible Foods, which develops alternative meat.
The investment was made at the group level, including Mirae Asset Securities. It led the investment in the company for the second time since March last year.
According to Mirae Asset on the 25th, Impossible Food, headquartered in California, USA, is an alternative meat startup founded by biochemist Patrick Brown, a Stanford University student in 2011. It is also known as a company invested by entrepreneurs such as Microsoft (MS) founder Bill Gates and Cheung Kong Group Chairman Li Ka-sing, as well as celebrities such as singer Katy Perry and rapper Jay-Z.
Impossible Food is currently available at more than 40,000 of the world's leading restaurant chains, including Starbucks and Burger King, and 20,000 U.S. supermarket chains, including Wal-Mart, Costco and Target.
Impossible Food's cumulative funding amounted to 2 billion dollars. Major investors are global top-tier venture investment firms such as Mirae Asset, Temasek, Horizon Ventures, Khosla Ventures and Google Ventures.
Reporter Lee Ji-sun firstname.lastname@example.org