IM8 Secures $1 Billion via Non-Equity General Catalyst Fund
AI-generated image · US National Wire
David Beckham's longevity drink startup utilizes a loan-based funding structure that avoids traditional ownership stakes.
IM8, David Beckham's health drink startup co-founded by CEO Danny Yeung, has secured $1 billion in funding from General Catalyst's Customer Value Fund (CVF), according to reporting from TechCrunch.
The investment is structured as a loan rather than a standard venture equity deal. TechCrunch reports that GC will not hold an ownership stake in IM8, and the startup's ownership will not be diluted. Instead, the CVF provides capital that startups repay through a fixed, capped percentage of generated revenue.
Specifically, the $1 billion is intended to finance up to 70% of IM8's customer acquisition costs. In exchange, GC will receive a capped share of "reference income," which TechCrunch defines as revenue from those customers multiplied by a fixed gross-margin assumption. Once GC recovers its investment and reaches the revenue share cap, all remaining revenue from those customers reverts to Prenetics, the parent company that owns IM8.
IM8 sells subscription-based vitamin drinks containing compounds associated with longevity, including Coenzyme Q10 and açai fruit extract. CEO Danny Yeung previously founded Prenetics, which went public in 2022. TechCrunch notes that this funding model is designed for companies with predictable revenue streams; the outlet previously reported that Grammerly utilized the same CVF structure for a $1 billion investment in May 2025.