PALO ALTO — Hampton Creek Foods, a San Francisco-based food technology startup innovating plant-based egg replacements, turned to Orrick, Herrington & Sutcliffe for advice in raising its $23 million Series B financing round.
The round was led by a $15.5 million contribution from Horizons Ventures, an investment firm run by Hong Kong businessman Li Ka-shing, Asia’s richest man. Hampton Creek founder Joshua Tetrick told Forbes that he was energized by Horizons’ connection to China, which produces an estimated 38 percent of the world’s eggs.
Series B investors also included Yahoo Inc. co-founder Jerry Yang and AME Cloud Ventures; entrepreneur brothers Ali and Hadi Partovi; Google executive Jessica Powell; entrepreneur Scott Banister; and Morado Venture Partners co-founder Ash Patel. The company has previously raised funding from Bill Gates.
Tetrick, who earned his J.D. from the University of Michigan Law School, founded the company in 2012. It produces egg-free alternatives to usually egg-heavy products like mayonnaise. It’s working on a cookie dough as well as a scrambled egg product, which are expected to hit shelves later this year.
The Orrick team was led by emerging companies partner Daniel Friedland and included partner Daniel Yost and associates Andrew Erskine and Amanda Galton. Orrick serves as the company’s general corporate counsel. It does not have a full-time in-house counsel.
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