In This Issue:
- Food Venture Financing Trends
- CPG Corporate Venture and Private Equity Funds
- Links to Relevant Content and Events
Food Venture Financing Trends
- OLIPOP, a functional prebiotic beverage brand, closed its $30 million Series B financing. Monogram Capital Partners led the round, which included notable celebrities such as Camila Cabello, Priyanka Chopra Jonas, Nick Jonas, Joe Jonas, Kevin Jonas, Mindy Kaling, Logic, and Gwyneth Paltrow.
- Purely Elizabeth, a natural granola and oatmeal company, closed its $50 million Series B round. The company plans to use the funds to invest in product innovation and marketing.
- Zero Acre Farms, a sustainable and healthy food oil company, raised its $37 million Series A round, which was co-led by Lowercarbon Capital and Fifty Years.
- Kalera AS, a vertical farming company, plans to go public through a SPAC transaction that will list the company on the NASDAQ trading platform this year. The deal is expected to value the company at approximately $375 million.
CPG Corporate Venture and Private Equity Funds
This week's featured program is Minerva Foods.
- Minerva Foods is one of the leaders in the production and sale of fresh beef and its byproducts, live cattle exports and beef processing in Latin America.
- Minerva Foods brands include:
- Estância 92, based in Brazil
- Minerva Angus, based in Brazil
- Frigomerc, based in Brazil
- Cabaña Las Lilas, based in Argentina
- Pul, based in Uruguay
- Minerva Foods in Brazil launched MF92, a venture capital fund, in August 2020.
- MF92 made its inaugural ($4 million) investment in San-Francisco based Clara Foods, a maker of plant-based protein ingredients for food and beverage products, in 2021.
Links to Relevant Content and Events
ARTICLES
- Olipop Raises $30 Million in Series B Funding Round
- Camila Cabello, Mindy Kaling, Gwyneth Paltrow Pour Capital Into Olipop's Mission To Change Soda
- UPSIDE Foods Adds Cell-Cultured Seafood to the Menu With Acquisition of Cultured Decadence
- Plant-Based Lamb Maker Raises $5.25 Million in Seed Funding
- Zero Acre Farms Raises $37 Million for Its Mission to Make Oil Healthier
- Kalera to Debut on Nasdaq With SPAC Deal Valuing the Vertical Farming Company at $375 Million
- Purely Elizabeth Raises $50 Million for Expansion
- Plant-Based Nutrition Startup Raises $10 Million
- Kula Bio Closes $50 Million Series A to Further Develop Its Low Emission Biofertilizer
EVENTS & OPPORTUNITIES
Naturally Bay Area: CEOs & Founders Forum
Thursday, February 10, 12:00 - 1:00 p.m. PST
Virtual, Members-Only Meeting
Special guest Brandon Hernandez of Whole Brain Consulting will join the forum's bi-monthly meeting to answer your questions about Supply Chain and Operations Management.
Are you a CEO or Founder? Apply to join now >>
Naturally Bay Area's 2022 Quick Bites Series:
How to Effectively Outsource Finance & Accounting
Thursday, February 17, 12:00 - 12:45 p.m. PST
Learn the importance of Chart of Accounts; developing proper systems, processes and controls; and establishing the right reports and KPIs.
Naturally Bay Area's 2022 Quick Bites Series:
E-Commerce Pricing and Channel Strategy
Tuesday, February 22, 12:00 - 12:45 p.m. PST
Hear from experts on how to set up your business for DTC success.
Naturally Network Meet & Greet @ the Expo West Pitch Finals Competition and Party
Wednesday, March 9, 4:30 - 6:30 p.m. PST
Grand Ballroom F
Come meet and greet fellow members, sponsors, and board members across the Naturally Network community. No invite or sign-up required. See the Expo West site for more info.
Naturally Bay Area's 2022 Quick Bites Series:
How to Find Co-Manufacturing Success
Wednesday, March 16, 12:00 - 12:45 p.m. PST
Learn how to begin your co-manufacturer search and how to scale and grow with your partner.
Naturally Network Women in CPG Summit March 22 - 24
As part of the summit, we'll be hosting:
- The Path to Power: A Journey to the C-Suite
Thursday March 24 | 9:30 - 10:45 am PT
Registration opens February 14
- Women in CPG Networking Mixer with Naturally Bay Area + Naturally North Bay
Thursday March 24 | 4:00 - 6:00 pm PT
In-Person event
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.