Ara Partners commits $65m to BioVeritas

Ara Partners acquired BioVeritas in 2021.

  • David Austgen serves as CEO of BioVeritas
  • The funding will be used to commercialize the company’s production process
  • Ara Partners is focused on industrial decarbonization investments

Ara Partners commits $65 million to Bryan, Texas-based BioVeritas, a bio-based ingredients company. The funding will be used to commercialize the company’s production process for clean-label food and feed ingredients, gut health supplements, and industrial materials.

Ara Partners acquired BioVeritas in 2021 and recruited David Austgen as BioVeritas’ CEO.

BioVeritas’ commercial facility is expected to have production capacity of up to 20 kilotons per year and will commence production in 2025.

“Petrochemicals are part of nearly every aspect of our lives, including our global food supply,” said Austgen, in a statement. “Our mission at BioVeritas is to decarbonize the global human & animal food, feed, and gut health industries by replacing petrochemical ingredients with highly efficacious plant-based natural equivalents, thereby contributing to a healthier population and a more sustainable planet.”

Ara Partners is focused on industrial decarbonization investments.