Rap icon Jay-Z has invested in plant-based chicken brand Simulate.
The star has invested in multiple plant-based brands in the past, such as Oatly and Impossible Foods.
His latest business move, made through Marcy Venture Partners, will help Simulate develop meat-free products beyond its flagship NUGGS.
According to Bloomberg, Simulate is now valued at a staggering $250 million.
A spokesperson for the brand confirmed Jay-Z’s investment but declined to provide specific details.
The ‘Tesla of chicken’
Simulate – which describes itself as the ‘Tesla of chicken’ recently announced the debut of its vegan nuggets in 800 Walmart stores and 400 Target outlets across the US.
The brand’s plant-based chicken is made primarily from texturized pea protein technology enabling it to create a ‘tender and juicy nugget that is more advanced than an animal-based nugget’.
They contain 13g of protein (about 25 percent more than animal-based) and 10g of fat (about 40 percent less than animal-based). Moreover, they’re cholesterol-free.
“NUGGS is the intersection of food and the internet,” Ben Pasternak, the company’s founder said.
“We set out to make the best nugget period, a chicken nugget simulation is just the baseline.”
Simulate X McCain Foods
Last year, Simulate partnered with global giant McCain Foods to help it ‘accelerate’ growth and ‘deliver market scale’.
Mauro Pennella is the Chief Growth Officer at McCain Foods. He said: “NUGGS is an incredible product in itself and a very tasty chicken nugget simulation.
“Furthermore, the NUGGS teams approach to fast, iterative innovation, based on constant consumer feedback is a great way to create products people love.”