Malaysia’s Xeraya Capital has invested an undisclosed amount in Australian precision-fermentation company All G, Green Queen reported on August 11, 2026. Xeraya is controlled by Khazanah Nasional, Malaysia’s government-owned investment fund, according to the publication.
The investment’s central significance is strategic as well as financial. All G said Xeraya could help it find commercial openings in Southeast Asia for recombinant proteins modeled on components of cow and human milk, while Xeraya CEO Fares Zahir cited the company’s potential to support human health.
Green Queen reported that Xeraya entered All G’s pre-Series B convertible-note financing under the terms already offered to existing participants. The round had brought in $6.6 million when announced, while All G’s cumulative funding exceeds $36 million, according to Green Queen. Founder and CEO Jan Pacas told the publication that the company currently makes single-digit tonnes of its LFX bovine apo-lactoferrin annually using 60,000-litre fermentation capacity. Green Queen said LFX has iron saturation below 5% and entered the US market one month before its report.
Regulatory and scale-up work remains incomplete. Pacas told Green Queen that All G expected to establish self-affirmed GRAS status for human lactoferrin by the close of 2026, followed by market entry within six months. Green Queen also reported that using the company’s bovine lactoferrin in US infant formula would require another GRAS submission and further safety evidence. All G is additionally seeking Series B capital, according to the publication.
CONCLUSION Xeraya’s participation adds a state-linked life-sciences investor to All G’s precision-fermentation financing. The next milestones identified by Green Queen are the company’s Series B fundraising, human-lactoferrin commercialization work and separate US infant-formula review.