Food Venture Financing News - Weekly Issue No. 25
In This Issue:
Food Venture Financing Trends
- Nestlé announced increased investment and expanded operations in plant-based products.
- Merit Functional Foods and Bunge Limited have announced a partnership to focusing on plant-based protein ingredients.
- The shift to online shopping has prompted many emerging brands to rethink branding and marketing strategies to reach new consumers. Brands that have succeeded on online platforms have focused on enhancing online marketing and product labeling as well as offering attractive promotions for customers.
- Recent statistics by IRI have indicated that while large CPG companies benefited during the early months of the pandemic, the growth rate of emerging brands have outpaced that of large CPG companies.
- Walmart plans to launch Walmart+, its membership service for $98 per year or $12.95 per month, on September 15th for online grocery shopping and household items. Some of membership benefits include free same-day delivery and discounts on fuel.
CPG Corporate Venture Funds
Our featured CPG corporate venture investment fund this week is Rich Products Ventures.
- Rich Foods, the large privately-held national food company, launched Rich Products Ventures in 2017, to invest in food companies in B2B and direct-to-consumer food channels, including food service, in-store bakery, and e-commerce.
- Key investments include:
- BlueNalu, a cell-based seafood company (2020)
- Tovala, a Chicago-based meal-service and smart-oven company (2020)
- MyCoTechnology, a mushroom-based ingredients company (2020)
Links to Relevant Content and Events
- From Francis Ford Coppola to Foodtech: FTW Ventures' Brian Frank on Latest Fund
- Honey Mama's Raises $4.5 Million in Series A Round
- Peatos Raises $7 Million in Series A Funding
- Quinn Raises $3 Million to Support Strong Growth
- Restaurant Tech is Serving Up Funding Deals Mid-Pandemic – But Will Adoption Stick?
- Verus Snags Small-Batch Nut Butter Maker
- Using Tech To Understand Your Farm Operation
- Merit Functional Foods Partners with Bunge to Bring Pea and Canola Protein to Market
- For Nestlé, the Future of Food is Rooted in Plants
- 'Winning at Shelf' is Less Important Than 'Winning at Couch'
- Big CPGs Struggle to Gain Market Share During Covid-19 Despite Sales Boost
- Walmart to Launch Its Walmart+ Membership Service on September 15
- Twenty-five Years After the Smash Hit "Gin and Juice", Snoop Dogg Finally Creates His Own - INDOGGO GIN: A Juicy Gin With Laid-Back California Style
- The Food Tech Show: Walmart+ and Ghost Kitchen Robots
- Food Union Investing in Tech And Innovation: 'This Will Give Us an Ongoing Competitive Edge'
Naturally Bay Area QUICK BITES Wednesday Lunchtime Series
Wednesday, September 16th, 2020 - 12:00 – 12:30 p.m. PT
What's Hot In Organic?
- Max Goldberg: Founder, Organic Insider
- Pete Brennan: Host, Naturally Bay Area & Co-Founder, Soñar Foods
DWT's Women Entrepreneurs Boot Camp
Tuesday, October 6th, 2020 (12:00 - 3:30 p.m. EDT) and Thursday, October 8th, 2020 (12:00 - 1:30pm EDT)
DWT's Project W helps female-founded companies accelerate growth and successfully raise capital. DWT's Entrepreneurs Boot Camp faculty includes Sarah Masoni from Oregon State University's Food Innovation Center, Caroline Bushnell from Good Food Institute and members of venture capital funds such as Steve Case's Rise of the Rest, GreatPoint Ventures (an early investor in Beyond Meat), Finistere Ventures, New Crop Capital and ff Ventures.
Applicants can apply here by Friday, September 11th.
Please check out DWT's newly re-launched Startup Law Blog
At Davis Wright Tremaine LLP (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.
Please contact our Food and Beverage team if we can assist you in any way in these unprecedented times.
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.