Food Venture Financing News - Weekly Issue No. 87
In This Issue:
- Food Venture Financing Trends
- CPG Corporate Venture and Private Equity Funds
- Links to Relevant Content and Events
Food Venture Financing Trends
- Remilk, an alternative dairy startup company, announced that it raised $120 million at a $325 million valuation in its Series B round.
- Liquid Death, a canned mountain water startup company, announced that it raised $75 million in its Series C round.
- Last week, The Biden-Harris Administration announced its Action Plan for a Fairer, More Competitive, and More Resilient Meat and Poultry Supply Chain which will dedicate $1 billion to expand independent processing capacity to increase competition for meat and poultry producers.
- Many foodtech companies had successful equity raises in 2021, with 13 foodtech companies raising $100+ million. Alternative protein companies benefited the most from 2021 capital raises.
CPG Corporate Venture and Private Equity Funds
This week's featured program is 199 Ventures.
- 199 Ventures is a corporate venturing group for Hormel Foods, a global branded food company inspired to make great food and make a difference for their consumers, customers, team members, business partners, and the communities.
- 199 Ventures invests in partnering with emerging food companies and entrepreneurs that create innovative products that improve the lives of consumers. Their areas of focus include the following:
- Fabric (Microfulfillment platform for grocers and retailers)
- GrubMarket (Farm-to-table food delivery service offering a variety of organic and locally-sourced food and produce)
- Flowhub (Retail platform for modern cannabis dispensaries)
- Joywell (Growing the next generation of protein sweeteners)
- This venture group has partnered with FoodBytes, Green Circle Foodtech Ventures, The Better Meat Co. and the Explore Cuisine.
Links to Relevant Content and Events
- Here Are the Top Food Tech and Sustainability Trends for 2022
- Who Is Founding and Funding Fungi Startups?
- ReHarvest Provisions Raises $1.5 Million in Seed Funding
- Darling Ingredients Acquires Valley Proteins for Approximately $1.1 Billion
- Benson Hill Finalizes Go-To Market Strategy for Plant-Based Protein With $102 Million Acquisition
- Meez Keeps Recipes in One Place So Chefs Can Continue Whipping Up Culinary Delights
- Vejii Announces Closing of Acquisition of VEDGEco USA, Inc.
- Foodtech Startup Remilk Brings in $120 Million Series B
- Liquid Death Lands $75 Million More to Expand the Brand
- FACT SHEET: The Biden-Harris Action Plan for a Fairer, More Competitive, and More Resilient Meat and Poultry Supply Chain
- Top 10 Food Funding Rounds of 2021
EVENTS & OPPORTUNITIES
Naturally Bay Area's 2021 Quick Bites Series:
What to Expect in the 2022 Food & Beverage M&A Market
Wednesday, January 12, 12:00 - 12:45 p.m. PST
Naturally Bay Area board member Don Buder, Partner in the Food + Beverage practice of Davis Wright Tremaine LLP, will lead the conversation with these featured panelists:
- Mike Burgmaier, Managing Director & Co-Founder of Whipstitch Capital
- Wayne Wu, Partner at VMG Partners
Topics to be discussed:
- What factors will drive the M&A market in the food & beverage sector?
- What will buyers be looking for and how will they value their targets?
- What can sellers do to most significantly increase their valuations?
- Predictions of the hottest food & beverage categories for M&A transactions in 2022.
Naturally Bay Area's 2021 Quick Bites Series:
Diversify the Shelf: How POC-Owned Brands Can Win at Retail
Wednesday, January 19, 12:00 - 12:45 p.m. PST
The demand for grocery store products representative of today's shoppers is rapidly growing. Join this Quick Bites panel discussion about the opportunity for retailers to diversify the grocery shelf with products shoppers can better relate to.
Dianna Tremblay, Naturally Bay Area Board Member and Chief Program Officer at ICA, will lead our panel discussion with:
- Ibraheem Basir, Founder & CEO of A Dozen Cousins
- Thuy Nguyen, Forager at Good Eggs
- Subriana Pierce, Managing Partner at Navigator Sales & Marketing
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.