The Zell Lurie Founders Fund, University of Michigan’s $10m student-led, seed-stage venture fund, today invested $100,000 in Mindwell, a US-based producer of plant-based jerky.
Founded in January 2017, Mindwell has developed a high-protein legume-based jerky that contains no artificial flavours or added sugar and is gluten free.
Apart from being vegan, legumes also produce up to 250 times less carbon emissions per gram of protein than beef or lamb, according to the company.
Mindwell was co-founded by Allyson Stewart and Bridget Henley, who were studying towards an MBA and a Master of Public Health, respectively, at the time.
The product is currently for sale on the company’s website as well as select locations in the US Midwest region and Chicago. Mindwell will use the funding to launch in large, regional grocery chains this autumn.
The Zell Lurie Founders Fund invests in startups founded by students and recent alumni of University of Michigan. The investment team is made up of the top students from other student-led funds at the university’s Zell Lurie Institute.
Stewart Thornhill, executive director of the Zell Lurie Institute, said: “Mindwell is a great example of a company that has made the most of the resources and connections that University of Michigan provides its entrepreneurs.
“We hope that this Founders Fund investment will help them realise their goal of becoming a national brand, and that they will continue to reap the benefits of being part of our entrepreneurial community.”
