JM Morgan Stanley India Ex-Chief Rajeev Chitrabhanu To Fund Indian Alt-Protein Startups

10 October 2020

The global investment and entrepreneurial landscape for companies focused on alt-protein is booming! Alternative proteins such as plant-based meat, egg, and dairy foods have received billions in funding and seen faux meat companies like Beyond Meat go public with great success. The Indian and Asian ecosystem for alt-protein entrepreneurs is not as developed as their counterparts in the U.S. and European markets, but financial honcho Rajeev Chitrabhanu has set his sights on addressing this challenge. The former JM Financial Services CEO founded advisory lead investment firm Magnetic and he plans to support and provide funding for companies in the clean meat entrepreneurial space, with help of expert ecosystem-builder the Good Food Institute (GFI) India. GFI India has rapidly emerged as the central thought leader and convening body in the global 'alternative protein' or 'smart protein' sector and the announcement on Magnetic-GFI India's collaboration was made on Friday at the virtual Smart Protein Summit 2020 hosted by GFI India.

Speaking on why he decided to collaborate with GFI India to support India's alt-protein businesses, Magnetic Founder Rajeev Chitrabhanu informed VeganFirst, "Millennials and Gen Z consumers are driving a major shift in global consumption, towards cleaner alternatives to meat, dairy, materials, fashion and cosmetics. Many of these developments are centred on the U.S. and EU, and there is a dearth of support for the industry in Asia. Companies in the space need more than capital - they need critical support right through their journey. With this platform, I’m aiming to empower great entrepreneurs to attain huge scale with the right mentorship and partnerships. I’m glad to partner with GFI India to scale this network across India and then the rest of Asia." Rajeev has been already advising several companies in the plant-based foods domain, across plant-based meat, dairy, and manufacturing.

GFI India's Varun in talks with Rajeev Chitrabhanu at the summit
 

Speaking on the collaboration with 'Growth Guru' Rajeev Chitrabhanu, GFI India's Managing Director Varun Deshpande told us, "The alternative protein sector in India is poised for takeoff, with all the sustainability, food security, and public health gains that entails - but it needs mentorship and support from seasoned experts across the corporate and investment landscape. Rajeev’s bringing to bear his expertise and network is exactly the right kind of development to drive the industry forward. We’re glad to support these efforts to help entrepreneurs achieve rapid growth, in service of a more resilient food system.”
 

Chitrabhanu is one of India's most well-respected investment bankers, business advisors, and investors - to the extent that he has been described by many as a ‘growth guru’. He led multibillion dollar financial firms JM Morgan Stanley and subsequently JM Financial, advised venture capital firms TPG, Bessemer Venture, Kae Capital, and helped take over 30 companies public. 
 

Rajeev Chitrabhanu strikes a pose.
(Image source: LinkedIn/RajeevChitrabhanu)
 

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