David Beckham’s health and wellness startup, IM8, has secured a massive $1 billion in funding from General Catalyst’s Customer Value Fund (CVF), a financing vehicle that sidesteps traditional equity investments. The deal provides the celebrity co-founded company with significant growth capital without diluting ownership.
Quick Facts
- Funding Amount: $1 billion
- Investor: General Catalyst’s Customer Value Fund
- Deal Type: Non-dilutive revenue sharing
- Founders: David Beckham and Danny Yeung
A Different Kind of Venture Capital
Unlike a standard venture round where investors buy stock, General Catalyst’s CVF offers a unique form of financing that functions more like a loan with specialized repayment terms. GC will not take an ownership stake in IM8, meaning the startup’s founders and existing shareholders retain their full equity.
Instead, IM8 will repay the funds along with a fixed, capped percentage of the revenue it generates. This model is designed for companies with predictable revenue streams that need capital to accelerate growth. The structure was previously used in a similar $1 billion deal for Grammarly in May 2025.
Behind the Billion-Dollar Handshake
IM8 was co-founded by CEO Danny Yeung, who previously founded the health company Prenetics, which went public in 2022. A dinner meeting with David Beckham led to the creation of IM8, now a subsidiary of Prenetics. The company sells a subscription-based vitamin drink featuring compounds linked to longevity, from açaí fruit extract to Coenzyme Q10.
The $1 billion loan is specifically structured to finance up to 70% of IM8’s customer acquisition costs. In return, General Catalyst receives a capped share of “reference income”—defined as the revenue from new customers multiplied by a fixed gross-margin assumption. Once the investment is repaid and the revenue-share cap is reached, all subsequent revenue flows back to Prenetics.
What This Means for MENA Startups
While IM8 is a global story, the financing model used by General Catalyst holds significant relevance for the MENA startup ecosystem. For regional B2C and B2B companies with strong, predictable revenue—particularly in SaaS, subscription e-commerce, and direct-to-consumer sectors—this non-dilutive approach presents a powerful alternative to traditional venture capital.
Founders in markets like the UAE, Saudi Arabia, and Egypt who are focused on scaling customer acquisition without giving up equity could find this revenue-sharing model an attractive option. It allows them to fuel aggressive growth plans while maintaining full ownership and control, a critical advantage for founders navigating the region’s competitive landscape.
About IM8
Co-founded by global icon David Beckham and serial entrepreneur Danny Yeung, IM8 is a health and wellness company operating as a subsidiary of Prenetics. The company focuses on products linked to longevity, offering a vitamin-rich drink sold directly to consumers through a subscription model.
Source: TechCrunch
