Food Venture Financing News - Weekly Issue No. 80
In This Issue:
- Food Venture Financing Trends
- CPG Corporate Venture and Private Equity Funds
- Links to Relevant Content and Events
Food Venture Financing Trends
- Nick's, a keto-friendly ice cream company, announced that it raised $100 million in its Series C round.
- Daring Foods, a plant-based chicken company, announced that it raised $65 million in its Series C round, which was led by Founders Fund and included celebrities such as Naomi Osaka and Cameron Newton.
- Vejii Holdings, a plant-based vegan marketplace, announced that it plans to go public on the Canadian stock exchange.
- Tattooed Chef, a public plant-based food company, announced that it plans to acquire Belmont Confections, a co-manufacturer or nutrition bars, for $18 million.
- The Real Good Food Company, a grain-free frozen entrée company, is preparing to set its initial share price of its IPO between $14 to $16.
CPG Corporate Venture and Private Equity Funds
This week's featured program is 1st Course Capital.
- 1st Course Capital ("1CC") is an early stage venture capital firm that invests in innovative business models and technologies that change "how we grow, produce, and distribute food."
- 1CC works with a vision to create a noteworthy positive impact on human health and the health of our planet and communities. Portfolio companies include:
- Bobbie - Infant formula produced using clean and transparent ingredients
- AgriDigital - Commodity trading platform remaking the supply chain for improved traceability and margins for farmers
- Dispatch Goods - Reverse logistics company offering re-usable packaging for restaurant delivery and takeout
Links to Relevant Content and Events
- GrubMarket Raises $145 Million Series E to Accelerate Profitable Growth
- Aqua Cultured Foods Raises $2.1 Million in Pre-Seed Round
- Dawn of the Robocorn? Micro-Fulfillment Robot Specialist Fabric Raises $200 Million on $1 Billion Valuation
- Carbon-Neutral Company Neutral Foods Raises $4 Million in Seed Funding
- Shiru Closes $17 Million Series A to Develop Novel Plant-Based Food Ingredients
- Above Food to Acquire Atlantic Natural Foods
- Keto-Friendly Nick's Ice Cream Raises $100 Million, Expands Further Into Snacking Segment
- Daring Foods Raises $65M and Launches at Walmart
- Vejii Prepares for IPO: 'Being Public Provides Faster Access to Growth Capital'
- Tattooed Chef to Acquire Belmont Confections, Inc.
- Real Good Food Sets Initial Share Price of $14 to $16
EVENTS & OPPORTUNITIES
Naturally Bay Area's 2021 Quick Bites Series:
What's Your Company Worth?: How CPG Companies are Valued in Equity Financings and M&A Transactions
Wednesday, November 10, 12:00 - 12:45 p.m. PST
Join us for a Naturally Bay Area Quick Bites panel discussion on Wednesday, November 10 from 12:00 – 12:45pm PT to learn about how your company will be valued when you seek outside capital or prepare to sell your business. Our panelists will be:
- Joseph Eagleeye, Finance & Analytics Advisor, Omnium. Joe is the former Chief Financial Officer of Organic Valley, the nation's largest organic, farmer-owned cooperative and one of the world's largest organic consumer brands. He is currently principal of the proprietary trading & research firm Premia Capital Management.
- Robyn Rutledge, Founder, SBG Growth. Robyn is the founder of SBG Growth, a consumer-focused investment and advisory business based in San Francisco that invests in early-stage branded consumer companies. She was previously a Managing Director and Partner and subsequently an Operating Partner at TSG Consumer Partners, a leading consumer investment firm.
- Rodney Clark, Managing Director and Founder, Aspect Consumer Partners. Rodney is an investment banker with over 28 years of experience in strategic advisory services, mergers & acquisitions, and capital raising in the consumer products industry. Prior to founding Aspect Consumer Partners, Rodney spent over 20 years on Wall Street at major firms leading their consumer product M&A transactional groups.
This panel discussion will be moderated by Don Buder, a Naturally Bay Area Board member and a partner in the Food & Beverage practice of Davis Wright Tremaine LLP, a national law firm.
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.