Food Venture Financing News - Weekly Issue No. 111
In This Issue:
- Food Venture Financing Trends
- CPG Corporate Venture and Private Equity Funds
- Links to Relevant Content and Events
Food Venture Financing Trends
- Tropic Biosciences, an agtech startup, announced that it raised $35 million in funding. The company plans to use the funds to increase its gene-editing technology to develop high-performing tropical crops.
- Steeped Coffee, a sustainable coffee startup company, announced that it raised $5 million through a crowdfunding campaign. The company will use its funds to develop its technology and expand its consumer base.
- Phytolon, a startup company that develops synthetic food colors, announced that it raised $14.5 million in its Series A round.
- Maolac, a foodtech startup that creates superfoods from proteins found in breast milk, announced that it raised $3.2 million in seed funding.
CPG Corporate Venture and Private Equity Funds
This week's featured CPG Corporate Venture and Private Equity Fund is Better Food Ventures.
- Better Food Ventures is a venture capital firm that was founded in 2013 and is based in Menlo Park, California.
- The firm seeks to invest in early-stage, scalable, game-changing technologies across the food and agriculture sectors.
- Portfolio companies include:
- Milk Moovement
- Four Growers
- Edifice Health
- Afresh Technologies
- Byte Technology
- Better Food Ventures invests in IT innovators focused on strengthening the food and agriculture industries. Better Food Ventures is affiliated with The Mixing Bowl, a forum for thought leadership and information exchange.
Links to Relevant Content and Events
- GS Foods Group Acquires Graves Foods – Expanding Operations in the Midwest
- Novacap Exits Greenwood Mushrooms, Sells Majority Stake to Instar Partners
- Shore Capital Partners Closes Food & Beverage Fund II at More Than $290 Million
- Plant Protein Startup Raises $2 Million
- Fyto Lands $15 Million to Grow Aquatic "Superplants" for Animal Feed and Beyond
- Motif FoodWorks Lays Off Employees as It Restructures
EVENTS & OPPORTUNITIES
Naturally San Diego: Webinar: New Legislation Requires Food Manufacturers Donate Surplus Food
Thursday, July 14 | 10:00 -11:00 p.m. PT
New legislation SB 1383 requires food distributors and manufacturers to donate surplus edible food to food recovery organizations.
During this session, you will:
- 1. Understand how Feeding San Diego works with local and national food donors to rescue food and provide it to people facing hunger - including SB 1383 and what you need to do in order to reach compliance
- 2. Learn about the organization and establish understanding of Feeding San Diego's mission
- 3. Receive tangible actions on the timeline of enforcement and how you can comply with SB 1383
Naturally New York: Hot 2022 Compensation Trends
Tuesday, July 19 | 12:00 - 1:00 p.m. PT
Barbara Bevilacqua and Kristin Russum, Talent & Organizational Management Directors at TriNet, will lead a critical conversation where you'll hear about the impact of a shifting workforce on pay trends, and what you should consider as you re-evaluate compensation strategies for your business. Then, get your questions answered during Q&A.
- Barbara Bevilacqua, Director, Talent and Organizational Management of Trinet
- Kristin Russum, Director, Talent and Organization of Trinet
Naturally Bay Area: Survival Training Series for Emerging CPG Brands
Weathering the Gathering Storm: Part 2, Managing Cash (7/20, 12 p.m. PT)
Wednesday, July 20 | 12:00 - 12:45 p.m. CDTJoin this discussion of current economic considerations and how to plan during uncertain times, with a focus on managing your cash and increasing your runway.
This is the second of a four-part series to help entrepreneurs prepare for and endure the financial uncertainties of the current market.
Part 1: Raising Capital (6/29/22)
Part 2: Managing Cash (7/20/22)
Part 3: Borrowing Money (October, details to come)
Part 4: Becoming Profitable (November, details to come)
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.