Breaking the capital code

Steve Molino, a principal with Clear Current Capital, recently called 2023 “The Year of the Cleanse” — and he wasn’t referring to an unsustainable diet.

Instead, he was talking about the “cleanse” that took place in the alt-protein industry, as companies found themselves without cash runway and no way to raise additional funds.

It’s been a dark 10 months for meat analogue companies with dollars drying up and venture capital firms becoming a lot pickier…