Malaysian Sovereign Wealth Fund Backs Animal-Free Dairy Startup

Malaysian Sovereign Wealth Fund invests in Australian precision fermentation startup All G, advancing scalable animal-free dairy production.

Malaysian Sovereign Wealth Fund (via Xeraya Capital) invested in All G after the startup announced its pre-Series B funding round in December. All G, a Sydney-based company founded in 2020, has raised over $36M total to date and produces recombinant bovine and human milk proteins using precision fermentation. The startup recently commercialized bovine apo-lactoferrin in the U.S. and targets U.S. infant formula approval with a pending self-affirmed GRAS status by end of 2026. Current production scales at single-digit tonnes annually, with potential to reach tens of tonnes. This follows All G’s $6.6M convertible note round in December.

This moves health access by scaling affordable animal-free dairy proteins for growing populations while reducing dairy’s environmental footprint. However, U.S. infant formula approval requires additional safety data beyond current GRAS status, and production economics depend on market prices for bovine lactoferrin. The source details remain with All G and Xeraya Capital.

Source: Green Queen