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Wall Street Journal
September 30, 2021
SOSV’s Perfect Day raises $350 million, reaches $1.5 billion valuation

The Wall Street Journal broke an exclusive on Perfect Day’s big fund raise and planned IPO. Perfect Day launched in Cork, Ireland in 2014 as part of SOSV’s now retired Rebel Bio program, and SOSV was its first investor. From the Wall Street Journal story:

“Perfect Day Inc. raised $350 million in a late-stage funding round, valuing the non-animal dairy startup at roughly $1.5 billion and setting the stage for an initial public offering.

“Singapore’s Temasek and Canada Pension Plan Investment Board led the Series D funding round for the California company, co-founders Ryan Pandya and Perumal Gandhi told The Wall Street Journal. Other investors include Walt Disney Co. Executive Chairman Robert Iger.

“Since its founding in 2014, Perfect Day, which uses fermentation technology to produce animal-free dairy proteins and counts actor Leonardo DiCaprio as an adviser, has raised $750 million.”