Food Venture Financing News - Weekly Issue No. 78
In This Issue:
- Food Venture Financing Trends
- CPG Corporate Venture and Private Equity Funds
- Links to Relevant Content and Events
Food Venture Financing Trends
- Real Good Foods, a frozen entrée production company, announced it will go public and raise $86.25 million in its IPO.
- AeroFarms, a leader in the indoor vertical farming industry, reported that it terminated its SPAC agreement with Spring Valley Acquisition Corp. The company reported that the SPAC was not in the best interests of its shareholders and would not optimize the company's growth strategy.
- An affiliated entity of Keurig, Dr. Pepper announced that it will purchase $20 million in shares of Vita Coco at the IPO price of approximately $19.50 from a current shareholder as Vita Coco plans to go public this week.
- Food inflation continues to impact the U.S. organic soybean prices have hit record highs (approximately $33 per bushel) due to a decrease in imports as well as shortages in shipping containers and the labor market.
CPG Corporate Venture and Private Equity Funds
This week's featured program is SnackFutures.
- SnackFutures is an early stage innovation and venture hub launched by Mondelēz International in 2018. SnackFutures aims to bring together talent, partnerships, and funding across three integrated mandates:
- Invention of new brands and businesses in key strategic areas;
- Reinvention of small-scale Mondelēz brands with large-scale potential; and
- Venturing with start-up entrepreneurs to seed new businesses.
- CaPao (U.S.)
- Dirt Kitchen Snacks (U.S.)
- Millie Gram (U.S.)
- Ruckus and Co (U.S.)
Links to Relevant Content and Events
- Real Good Foods Files for $86.25 Million IPO
- Supplant Is Expanding Its Fiber-Based Sugar Throughout the U.S. Following $25 Million Raise
- Piestro Raises Nearly $5 Million in Equity Crowfunding to Fund Pizza Robot Development
- TrusTrace Scores $6 Million to Bring Sustainability & Traceability to Agrifood Supply Chains
- Grounded Foods Raises $2.5 Million in Pre-Series A Funding
- Pluton Biosciences Looks to Nature for Cutting-Edge Biotech Solutions, Raising $6.6 Million Seed
- AeroFarms and Spring Valley Acquisition Corp. Mutually Agree to Terminate Business Combination Agreement
- Keurig Dr Pepper Affiliated Entity to Buy $20 Million in Vita Coco Stock as Part of IPO
- Analysis: 'It's a Madhouse': Organic U.S. Soy Prices Hit Record, Fuel Food Inflation
EVENTS & OPPORTUNITIES
Naturally Bay Area's 2021 Quick Bites Series:
Building a Diverse Hiring Process
Wednesday, October 20, 12:00 - 12:45 p.m. PST
Join the Naturally Bay Area community for a candid discussion about the importance of sourcing from a diverse candidate pool and establishing a thoughtful hiring process. They'll discuss:
- Why diversity is essential for a thriving business.
- How specific job requirements may limit or expand your applicant pool.
- Why now is the time to build this infrastructure--at any stage of your business.
- Pam McCoy, Food/CPG Recruiter, Creative Alignments
- Matt Kreutz, CEO, Firebrand Artisan Breads
- Levi Booser, Chief People and Culture Officer, Bellwether Coffee
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.