Food Venture Financing News - Weekly Issue No. 81
In This Issue:
- Food Venture Financing Trends
- CPG Corporate Venture and Private Equity Funds
- Links to Relevant Content and Events
Food Venture Financing Trends
- Future Farm, a Brazilian plant-based foodtech company, announced that it raised $58 million in its Series C round. The company plans to use the funding to expand its products and operations globally.
- Many food and beverages companies that went public through IPOs or SPAC deals since 2020 have seen decreased investor interest and declining share prices, signaling that the companies were perhaps initially overvalued.
- TurtleTree, a cell-based dairy foodtech company, reported that it raised $30 million in the first tranche of its Series A round.
- MilkRun, a food delivery startup that deliveries groceries from local farms, announced that it completed a $10 million capital raise to expand its service and introduce new products.
CPG Corporate Venture and Private Equity Funds
This week's featured program is Sandbox Industries.
- Sandbox Industries, a venture capital firm founded in 2003 in Chicago, focuses on three sectors with its current $340 million investment fund: healthcare, insurance, and food & agriculture.
- In food & agriculture, Sandbox invests through its Cultivan Sandbox Ventures L.P. fund.
- PCultivan Sandbox Ventures, L.P. has invested in 26 portfolio companies, including:
- Cooks Venture
- Cooper Cow Coffee
- Full Harvest
Links to Relevant Content and Events
- Future Farm Raises $58 Million in Series C Funding
- Farmland LP'S Vital Farmland REIT Surpasses $100 Million
- Soli Organic Announces $120 Million in New Financing to Expand Indoor Soil-Based Farms
- ADM to Buy Deerland Probiotics & Enzymes
- Daring Secures $65 Million in Series C Fundraising Round
- Bite Ninja Scoops Up Pre-Seed Funding to Reimagine Restaurant Working Environments
- Veteran-Focused Black Rifle Coffee Going Public Through $1.7 Billion SPAC Deal
- Upside Foods Opens Plant Capable of Making 50,000 Pounds of Cultivated Meat a Year
- Once-Hot Food and Beverage IPOs Lose Their Sizzle as Investor Enthusiasm Fades
- TurtleTree Raises US$30 Million in First Tranche of Series A Funding
- MilkRun Lands New Capital to Deliver Farm-Fresh Groceries
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.