In California, biobased venture studio Ferment has launched a $20 million fund aimed at accelerating biotech solutions across vital industries such as energy, agriculture, materials, and health. The fund’s inaugural investment is a $2.5 million stake in Alchemyca, an innovative company leveraging enzymes, sensors, and AI to enhance the conversion of organic waste into renewable natural gas.
“The biotech industry’s greatest hurdle isn’t technology; it’s identifying the right problems to solve,” Ferment managing partner Jason Kakoyiannis said in a press statement. Since its inception in 2021, Ferment has successfully founded seven companies that have rapidly brought revenue-generating products to market, attracting partnerships with major corporations such as Vale and Chanel.
The fund is backed by GS Group, a South Korean conglomerate.