Across the board, and not just relegated to vegan companies...you have a ton of private investor $$$ looking for a place to put it. Private Equity is a huge business now, and entrepreneurs find it relatively easy to get investments from them. You can either have a standalone Private Equity firm in the mix, or the Private Equity arm of a large, already established company, or even an insurance company looking for investments. There's a butt-load of money out there looking for a home, especially in a low interest rate environment.
So if there's any company out there showing promise, you can bet it won't be long before private equity comes ready to shell out the cash. They are either acquired by an established company, or they stay private much longer than in the past because they don't need the $$$ from an IPO. This affects us small investors considerably because the opportunities we had in the 80s and 90s aren't there.
As an example, Netflix and Amazon IPO'd in the late '90s and have handsomely rewarded any small investors lucky enough to hold on all these years. Facebook, Twitter, Snapchat and others would have done the same thing years ago, but they had so much private equity cash they didn't need to. They held on until the insiders were ready to sell off. IPO's now become about the private equity and early investors cashing out. Which means they think some of the best years of the investment are behind them, and they want to dump their shares on the public.
You and I are left with the scraps.