Cooks Venture secured $50 million in funding with help from insured technology financing pioneer, PIUS, to expand the company’s slow-growth broiler genetics program and build out infrastructure.
“In working with PIUS and utilizing its intellectual property (IP)-backed financing facility, Cooks Venture has the opportunity to become the leading slow-growing broiler breeder globally and the most compelling and competitive poultry genetics company,” said Matthew Wadiak, CEO and founder of Cooks Venture.
“The $50 million in funding will support Cooks Venture in dramatically increasing our genetics assets and strategic implementation, a culmination of 12 years of research and development, thus improving animal welfare and supplying more nutritious and flavorful chicken, the most consumed meat in the U.S. and the world.”
Slow-growing broilers as intellectual property
The funding, which was underwritten by PIUS, was based on the evaluation of Cook Venture’s proprietary slow-growth broiler breed.
In December 2021, the Global Animal Partnership (GAP) named the company’s breed as one of 11 eligible for the Better Chicken Commitment. GAP has long advocated for the use of slow-growing broilers. More than 215 companies in the U.S. and Canada have pledged to transition their supply to exclusively use breeds and production/processing techniques approved by the animal welfare group.
The slow-growth breed helps further the company’s commitment to regenerative agriculture.
“In PIUS’ extensive evaluation of Cooks Venture, it’s clear the company’s IP is only rivaled by its potential for long-term sustainable impact,” said Joe Agiato, CEO of PIUS.
“With more than a decade of research behind the Pioneer breed, Cooks Venture proves the food we eat can – and should – nourish our bodies as well as the planet. The PIUS team is privileged to play a role in the next phase of Cooks Venture’s growth, and we are all eager to see how they will revolutionize the poultry industry.”
PIUS helps growth-stage technologies secure more flexible financing options by insuring the debt’s value against a company’s intellectual property.
