BOULDER, COLO. — MLB Hall of Famer and former New York Yankees shortstop Derek Jeter has joined the Meati Foods team as an investor and adviser.

Meati Foods is a maker of fungi-based meat alternative. The company formulates nutrient dense meats using mycelium, the muscular root structure of fungi as its single main ingredient.

"When it came to considering an investment in this industry, I had three main priorities in evaluating the food: nutrition, sustainability and taste,” Mr. Jeter said. “Meati certainly delivers, with great quality steaks and cutlets and an institutional emphasis on high nutritional value and sustainable practices.”

Mr. Jeter spent nearly 20 years with the New York Yankees and was elected to the Baseball Hall of Fame in the class of 2020. He is now spending his time partnering with several businesses and engaging in entrepreneurial investments.

 “An investment from Derek, one of the greatest athletes of all time, is a huge validation of our food,” said Scott Tassani, president and chief operating officer of Meati Foods. “Very few people are as discriminating about the quality of food that fuels their bodies. Derek has seen endless products cross his desk for partnership consideration, and we’re honored by his support and inspired by his passion for a more sustainable, equitable, nutritious food ecosystem.”

Mr. Jeter also created the Turn 2 Foundation in 1996, which aims at motivating young people to “Turn 2” healthy lifestyles.