In This Issue:
- Food Venture Financing Trends
- CPG Corporate Venture and Private Equity Funds
- Links to Relevant Content and Events
Food Venture Financing Trends
- Impossible Foods recently announced that it plans to introduce plant-based chicken products in the fall, expanding its offering of for plant-based meat alternative categories.
- The USDA and Biden Administration have committed to invest $500 million from the American Rescue Plan funds to develop meat and poultry processing facilities and $150 million for small processing centers to assist the meat and poultry industry.
- A recent survey by CS Partners found that 10% of foodtech and agritech C-suite executives are females and hold 70% of the top ten CEO salaries for CEOs in those sectors.
- Noblegen, a Canadian foodtech company utilizing microorganisms to develop proteins and ingredients, recently announced a Series C round seeking to raise CAD$500 million.
- Honey Mama's, a cacao-nectar bar startup, will begin selling its products in Whole Foods nationwide.
CPG Corporate Venture and Private Equity Funds
This week's featured corporate venture and private equity fund is BFG Partners.
- BFG Partners is a venture capital firm based in Boulder, Colorado. It focuses on investing in early stage, high growth consumer products companies that are better for the planet.
- Portfolio companies include:
- Banana
- Bear Naked
- Birch Benders
- Good Day Chocolate
- BFG Partners' areas of focus include:
- Food & Beverage
Forward thinking, high growth brands that are building out new categories with a better-for-you spin - Personal Care
Non-toxic brands that support overall health for both humans and the environment - Home Goods
Next generation brands that create a safer and more sustainable environment - Dietary Supplements
Clean label internal wellness brands that promote holistic health
- Food & Beverage
Links to Relevant Content and Events
ARTICLES
- Nature's Fynd Closes $350 Million Investment Round
- Food Rocket Going Beyond Speedy Grocery Through Ghost Kitchens and an Open Platform
- FreshRealm Raises $32 Million for Fresh, Prepared Meals
- Cold-Pressed Juice Company Suja Purchased by Private Equity Firm
- Comet Bio Raises $22 Million Series C for Its Upcycled Ingredients
- Oatly Accused by Short Seller of Overstating Revenue and Sustainability Efforts
- Next Gen Foods Raises $20 Million, Will Bring Its Plant-Based Chicken in the U.S.
- Equilibrium Capital Closes a $1.02 Billion Fund for Indoor Ag
- Plant-Based Chicken Space Heats Up as Impossible Foods Enters Fray With Nuggets
- USDA Announces $500 Million for Expanded Meat & Poultry Processing Capacity as Part of Efforts to Increase Competition, Level the Playing Field for Family Farmers and Ranchers, and Build a Better Food System
- CS Partners: First Ever Ag and Food Tech Salary Survey Reveals Benchmarks
- ‘The most sustainable option in the food industry…’ Noblegen Opens CAD$500 Million Series C Round to Commercialize Suite of Ingredients From Ancient Microbe Euglena gracilis
- Honey Mama's Brings Chilled Cocoa Truffle Bars Nationwide With Whole Foods Distribution
EVENTS AND OPPORTUNITIES
Naturally Bay Area's 2021 Quick Bites Series:
Innovation Cycles, Disrupted
Wednesday, July 22, 12:00 - 12:45 p.m. PST
A conversation with CCD Innovation to learn how large and small CPG companies can become more nimble and agile in order to disrupt the traditional innovation cycle.
You’ll hear from innovative brands on how they are approaching new product launches and finding success in today's increasingly competitive market. Topics that will be discussed:
- Paths and partnerships for accelerating innovation cycles
- Challenges and solutions for success
- How to gather and use consumer feedback for product improvement
Naturally Bay Area board member Melissa Woodside, Sales & Business Development at Givaudan, will lead the conversation with our featured panelists:
- Sri Artham, Founder of Hooray Foods
- Jen Berliner, General Manager of Moonshot Snacks
- Anne French, Chief Marketing Officer of California Olive Ranch
- Marc Halperin, Founder of CCD Innovation
Naturally Bay Area's 2021 Quick Bites Series:
Sampling Is Back! Now What?
Save the Date | Wednesday, August 4, 12:00 - 12:45 p.m. PST
Networking Night:
Rub Elbows and Connect
Thursday, August 19, 4:00 – 6:00 p.m. PST
A members-only networking event at MISTA in San Francisco's Mission District. This casual event is a chance to reconnect with colleagues and meet new industry friends. Admission is free for current, paid members.
Want to join in the fun?
Step 1: Become a member.
Step 2: Attend the event on August 19th and enjoy a full year of membership benefits.
Naturally Bay Area's 2021 Quick Bites Series:
CPG Corporate Venture Funds: How Big Food Invests in Emerging Brands
Save the Date | Wednesday, September 15, 12:00 - 12:45 p.m. PST
Plant Futures Initiative
- Plant Futures Initiative (PFI) is a collaboration of UC Berkeley's Center for Responsible Business and Ideagarden Institute, a 501(c)(3) non-profit organization.
- Its mission is to educate, equip and empower the next generation of ethical leaders and entrepreneurs to accelerate transitions to healthy, regenerative and just food systems.
- PFI will provide the missing bridge between college education and rewarding jobs for the next generation of entrepreneurial leaders in the plant-based food sector.
- The next Plant Futures Symposium will be held online on January 14-15, 2022.
- PFI Challenge Lab industry partners are being recruited now for specific problem-solving projects that student teams can be deployed to run.
- Contact Will Rosenzweig at wbrose@ideagarden.com for additional information.
Please check out DWT's newly re-launched Startup Law Blog
At DWT, we are proud to have one of the largest Food & Beverage legal practices in the country, with over 40 attorneys representing food innovators, entrepreneurs, and investors at every level of the food chain, from Farm to Label.
The facts, laws, and regulations regarding COVID-19 are developing rapidly. Since the date of publication, there may be new or additional information not referenced in this advisory. Please consult with your legal counsel for guidance.
DWT will continue to provide up-to-date insights and virtual events regarding COVID-19 concerns. Our most recent insights, as well as information about recorded and upcoming virtual events, are available at www.dwt.com/COVID-19.