Impossible Foods

FoodtechUSA

New to Unitard

✂️ Markdown

🦄
Became a unicorn
May 2019
📈
Peak valuation
$6.84 Billion ’21
💔
Became a Unitard
~2024
💸
Last valuation
—

Current status

Private; written down by mutual-fund holders in SEC filings (marks below).

The rise & fall

8 moments · 2011–2024

The key moments, with employee sentiment along the way.

2011

Founded by Pat Brown

A Stanford biochemist sets out to replace animal agriculture, starting with heme.

Wikipedia

May 2019

Joins the unicorn club$2B

A $300M Series E lands amid the Burger King Impossible Whopper rollout.

Reuters

Nov 2021

The peak: ~$7B valuation$6.84B

A $500M round tops out the plant-based boom.

Bloomberg

Apr 2022

Founder steps back

Pat Brown hands the CEO seat to a packaged-goods veteran as category growth stalls.

Reuters

2022–23

The category cools

Plant-based demand slides; layoffs and restructuring follow.

Bloomberg

2022–25

From the inside · Glassdoor reviews, 2022–25

Glassdoor reviews across 2022–25 describe a company in transition: repeated restructuring, frequent reorgs, and a cultural shift from mission-driven research toward packaged-goods economics — though many still praised the products and colleagues.

2024

Fund marks slip below unicorn territory

Mutual-fund holders quietly mark the stake down in SEC filings.

SEC NPORT-P

Today

Still private — the funds keep marking

The Private Shares Fund marks it at $2.32/share · -86% from its peak mark · as of Mar 2026

SEC NPORT-P

💬 entries paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗; dated facts carry their source.

How it happened

Impossible Foods is a food-technology company offering plant-based meat substitutes to consumers seeking sustainable, ethical alternatives. Last valued near $6.84B (Series H-1, 2021), it has since fallen out of the $1B unicorn club and remains private amid a broad slowdown in the plant-based category.

Mutual-fund markdowns

2 funds · SEC NPORT-P

How U.S. mutual funds fair-value this still-private company in their quarterly SEC filings.

Per-share mark from peak

-86%

The Private Shares Fund · Common

$16.46 → $2.32

as of Mar 2026

Fund	Class	$/sh	From peak	As of
The Private Shares Fund	Common	$2.32	-86%	Mar 2026
The Private Shares Fund	Series E-1 Pref	$5.60	-66%	Mar 2026
Destiny Tech100 Inc.	Series A Pref	$1.71	-66%	Mar 2026
The Private Shares Fund	Series H1 Pref	$18.46	-10%	Jun 2025
The Private Shares Fund	Series H2 Pref	$18.46	-10%	Jun 2025
Destiny Tech100 Inc.		$3.25	-35%	Sep 2024

Source: SEC EDGAR Form NPORT-P (Level-3 fair-value marks). Per-share marks reflect the fund’s own valuation of a specific share class and aren’t a company-wide valuation. Last refreshed Jun 2026.

Source: SEC NPORT-P fund marks (below); peak per primary round

Founder

Patrick O. Brown
Founder & CEO (to 2022)
Now President at Impossible FoundationLinkedIn ↗