Food Venture Financing News - Weekly Issue No. 59
In This Issue:
- Food Venture Financing Trends
- CPG Corporate Venture and Private Equity Funds
- Links to Relevant Content and Events
Food Venture Financing Trends
- PitchBook announced that venture funding for foodtech companies accelerated in Q1 of 2021 as foodtech companies raised $10.1 billion globally, representing a 122.3% quarter-over-quarter increase.
- A recent report by the International Food Information Council's 2021 Food & Health Survey notes that a majority of consumers are focusing on nutrients and immune health to promote healthier lifestyles.
- Plant-based food companies continue to attract investments. Daring, a plant-based chicken company, announced its $40 million Series B raise led by D1 Capital Investors. The Series B round also attracted investment from celebrity musician Drake.
- Food venture firms predict that along with plant-based protein products, companies in the health & wellness, beauty, and personal care sectors will attract significant investment from investors in 2021.
CPG Corporate Venture and Private Equity Funds
This week's featured corporate venture and private equity fund is McCain Foods.
- McCain Foods is based in Toronto, Canada and is the world's largest manufacturer of frozen potato products. It also produces other quality products such as appetizers, vegetables and desserts that can be found in restaurants and retail stores in more than 160 countries around the world.
- Portfolio companies include:
- Goodleaf Farms
- Fiddlehead Technology
- McCain Food has invested in the following categories: Agriculture and Farming, Biotechnology, Data and Analytics, Food and Beverage, Hardware, Health Care, Science and Engineering and Software.
Links to Relevant Content and Events
- Plant-Based Innovation: Terviva Raises $54 Million, Collaborates With Danone on Foods Using Oils, Proteins, From Pongamia Trees
- Hershey to Purchase Better-For-You Confectionery Brand Lily's
- Eat Just Raises $170 Million for Cultured Meat Business
- Plant-Based Chicken Maker Daring Raises $40 Million in Latest Funding Round
- Sambazon Secures $45 Million Investment
- Pizza Automated Assembly Line Maker Garners $16.3 Million in Growth Funding
- Supplements-Maker GEM Health Raises $10.5 Million
- Digital Bodegas and Grocers Drive Foodtech VC Deal Boom
- Consumers Are More Confident About Healthy Eating as Pandemic Impacts Wane, Study Says
- 2021 Food & Health Survey
- The Future of Chicken Is Daring: Plant-Based Leader Raises $40 Million in Series B Round Led by D1 Capital Partners Alongside Drake
- GOOD Meat, a Division of Eat Just, Inc., Secures $170 Million to Scale Meat Without Slaughter as Demand Grows
Food Funded 2021 JEDI
Wednesday, May 12, 10:00 a.m. - 2:00 p.m. PT
There's more urgency and opportunity for racial equity out there, and past Food Investor Fairs have catalyzed investments for BIPOC food entrepreneurs. Slow Money and J.E.D.I. Collaborative invite you to join them for:
- Entrepreneur Lab: Changemakers and experienced practitioners speaking the truth about breakthrough.
- Food Investor Showcase:
- Bay Area Food Investor Fair: Forum for investors to meet BIPOC food entrepreneurs and see pre-screened investment opportunities.
- Virtual Tastings with Real Food and Small Group Exchanges: Engage your palate. Attendees will receive a Smorgasbox with samples from presenting food makers (while supplies last). Talk with the entrepreneurs about their food and their business.
Naturally Bay Area's 2021 Quick Bites Series
The Labeling and Certifications You Need to Know
Wednesday, June 2, 12:00 - 12:45 p.m. PST
Join us to hear more from food industry experts on the up-and-coming claims and certifications that consumers are looking for – and that you need to know about!
Dan Kurzrock, Naturally Bay Area board member & Co-Founder of Regrained, will lead a conversation with our featured panelists:
- Peter Dering: Co-Founder, Climate Neutral
- Rudy Marchesi: President, Demeter USA
- Jaclyn Bowen: Executive Director, Clean Label Project
- Allison Condra: Associate, Davis Wright Tremaine
CIA's Menus of Change Leadership Summit
June 22 - 24, 2021
Jeffrey Sachs, PhD, professor and director of the Center for Sustainable Development at Columbia University, will be joining the Menus of Change® Leadership Summit: Virtual Edition, June 22–24, to provide his insights on how building sustainability into your business benefits your guests, the planet, and most importantly, your bottom line. Twice named one of Time Magazine's most influential world leaders, ranked by readers of The Economist as one of the top three most influential living economists, and recipient of the 2015 Blue Planet Prize.
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.
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.