Member Spotlight – Clear Current Capital
Clear Current Capital is a pioneer investor in the early-stage sustainable food industry that has paved the way in offering solutions to some of the most egregious issues facing our existence today, stemming from a broken food system. The firm does this by supporting early-stage, for profit companies creating alternatives to animal-based food with products falling into four primary categories: (i) plant-based food (meat, seafood, dairy, eggs), (ii) cultivated meat, (iii) whole bio-mass and precision fermentation, and (iv) other mission oriented enterprises.
CCC’s dedication to delivering disruptive, accessible, and delicious food that takes advantage of the inefficiencies within the food industry has generated both (i) top quartile venture capital returns to investors and (ii) positive impact in environmental and sustainability, animal welfare, and health issues. To date, CCC has invested in 13 leading alternative protein companies that are 100% mission-aligned, with Fund I sitting at a Gross IRR and MOIC of 57% and 2.5x, respectively. CCC looks to support exceptional founders that we believe will reinvent food by delivering KPIs and returns to our investors.
In April 2021, CCC announced the initial close on its new impact fund (Fund II), which will create additional resources focused on environmental sustainability, animal cruelty, and large-scale industrial food, as well as provide climate, health, and food transparency solutions. Leading the continuation of this strategy is Curt Albright, Managing Member of CCC, bringing 30 years of senior level finance experience in balance sheet management, risk assessment, and investing in early-stage enterprises. Albright founded CCC in 2017 to focus on making investments that reflected his passions and values, as well as providing market access and substantial value to investors.
“We are a super targeted firm, investing in plant-based food, cultivated meat, and fermentation companies for core impact and for returns. We look to attract additional aligned capital into this space.” says Albright.
CCC’s team also includes Steve Molino and Kim Flores as Principals at the firm. Molino, whose primary focus is on new investment activity and strategic support for portfolio companies, is an investment specialist in the alternative protein space, having years of experience in early-stage sustainable food VC, as well as prior experiences in private equity and strategy consulting. Flores brings a differentiated skillset to CCC with an expertise in brand strategy and marketing, allowing her to support portfolio companies in areas most of need at these early stages in their lifecycles.
Retail sales data released earlier this year by the Plant Based Foods Association and The Good Food Institute revealed that grocery sales of plant-based foods were up y-o-y by 27% and surpassed $7 billion dollars in the US market in 2020.
“Our proprietary deal flow platform enables us to identify exceptional entrepreneurs/founders and to apply our experience and resources strategically for success and to support sector growth. We intend for our actions in this space to result in a large-scale positive impact and to produce strong returns for our investors. As our portfolio companies grow, so does our targeted impact for the greater good.” Albright said, addressing the strong rise in awareness and consumer demand for plant-based food.
Clear Current Capital’s mission is also directly aligned with 11 of the 17 United Nations Sustainable Development Goals, focusing on establishing a healthier, more sustainable food system. Clear Current Capital supports the removal of animal-based products from the industrial food system, while focusing on FoodTech and AgTech innovation for a healthier planet.