Food Venture Financing News - Weekly Issue No. 118
In This Issue:
- Food Venture Financing Trends
- CPG Corporate Venture and Private Equity Funds
- Links to Relevant Content and Events
Food Venture Financing Trends
- Gotham Greens, an indoor farming foodtech company, announced that it raised $310 million in its Series E round. The company plans to use the funds to expand its greenhouses and operations domestically.
- Good Catch's North American operations, a plant-based seafood company, announced that it was acquired by Wicked Kitchen in a stock acquisition for an undisclosed sum.
- Bond Pet Foods, a plant-based pet food startup, announced that it is developing new pet food items from the funds it raised in its $17.5 million Series A round in June.
- Current market conditions have caused Chobani to withdraw its IPO planned for later this year. Factors such as rising interest rates and economic uncertainty have softened the public markets.
CPG Corporate Venture and Private Equity Funds
This week's featured CPG Corporate Venture and Private Equity Fund is Foodshed Investors.
- "Foodshed Investors" is a d/b/a of Local Impact Investors LLC, a for-profit Texas LLC headquartered in Austin, TX. Foodshed Investors supports local "good food" ecosystems by playing in the intersection of food, finance, and social good.
- Foodshed Investors' mission is to:
- increase the Supply of Good Local Food
- enable mission-driven, for- and non-profit entrepreneurs in creating healthy, nutritious, and accessible food
- build robust regional food systems, particularly for the benefit of underserved communities
- reinvigorate rural economies via sustainable agriculture and quality jobs, and
- make progress toward stable climate, healthy soil, and humanely treated animals
- Portfolio companies include:
- The ABGB
- Austin Gelato
- BAMI Gluten Free
- The Cook's Nook
- Honest Mary's
- Seal the Seasons
Links to Relevant Content and Events
- True Food Kitchen Snags $100 Million Investment
- Online Grocer Misfits Market Announces Plans to Acquire Competitor Imperfect Foods
- Taranis Smart Scouting Nets $40 Million Investment
- Conti Ventures Leads $35 Million series B for Patternag's Metagenomics Platform
EVENTS & OPPORTUNITIES
Naturally Los Angeles
Wednesday, September 14, 6:00 - 8:00 p.m. PT
Location: USC Marshall School of Business, 610 Childs Way, Los Angeles, California
Los Angeles-based leaders in the natural products space give their opinions on how to fundraise and when to seek it, when to shun it.
- Jason Fishman, Digital Niche Agency
- Michael Huntsman, Senior Vice President - Wealth Management at UBS
- Ricky Khetarpaul, Health-Ade Kombucha
- Dayton Miller, Managing Partner at BFG Partners
- Greg Wilsey, Venice Brands
- Mike Woolard, Kola
Naturally Bay Area
Weathering the Gathering Storm: Survival Training Series for Emerging CPG Brands, Part 3 - Borrowing Money
Thursday, September 15, 12:00 - 12:45 p.m. PT
This is the third 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 watch the replay)
Part 2: Managing Cash (7/20/22 watch the replay)
Part 3: Borrowing Money (9/15/22) register now
Part 4: Becoming Profitable (11/2/22)
- Elliot Begoun, Founder, Brand Champion of TIG Brands
Naturally North Bay
How to Have Joyful Work
Tuesday, September 20, 12:00 - 1:00 p.m. PT
The path to Joyful work is not easy, but it could be the most important thing a person does in life. When work is enjoyable and aligns with one's deepest core values, all internal indicators increase, such as happiness, energy, sense of meaning in one's life, and the quality of life and relationships.
In this one-hour discussion, you will learn:
- What it means to have Joyful Work and why this is important for individuals and organizations
- The elements which need to be in place for Joyful Work
- An introduction to The Joyful Work Model™
- What individuals can do to enable their Joyful work
- The steps which leaders and HR professionals can take to enable joy at work
- Craig Nathanson, Educator, Author and Speaker at Sonoma State University
The Women in CPG Fall Step-Up Happy Hour
Thursday, September 21, 4:30 - 6:30 p.m. CT
Women in CPG Fall Step-Up Happy Hour is a happy hour for woman-founded, woman-led brands and CPG professionals.
Come to mingle, hear from inspiring women, enjoy sampling from local natural products brands, and your first drink is free! Plus, you'll have the opportunity to help fellow women founders in a quick-fire support-a-thon.
Education Event: Building Brands in Cannabis
Wednesday, September 21, 5:00 - 7:30 p.m. MT
CBD, THC, and Cannabis are all over the news. Consumers see the products in stores, are starting to see limited advertising, and are hearing anecdotes from their friends. Everyone is talking about it, but people have very little information about it. And, the information they do have varies by the state or community they live in.
This creates an interesting business opportunity for entrepreneurs! For current brands looking to incorporate cannabinoid-based benefits of sleep, pain relief or calm there is obvious opportunity, but also, complexity and risk. For new brands launching into the space, there is a steep and unique learning curve in navigating formulation, branding, and distribution that is like no other industry.
If you've wanted to learn more about this continually emerging, high-growth industry, Naturally Boulder has assembled a panel of experts to discuss the state of the industry, what's hot and new, and how you can develop and build a powerhouse brand in the space.
Moderated by John Simmons, co-founder of Weller and including:
- Bryant Ison, Managing Director SRG
- Jennifer Caines, Co-Founder of Moksha Chocolate
- Mary Mulry, Foodwise
- Colin Glaum, Former CMO Charlotte's Web, Advisor Stanley Brothers
- Jesse Stanley, Stanley Brothers
Growing Your Sales at Whole Foods Market
Wednesday, September 21, 3:00 - 4:00 p.m. CT
Getting shelf space with Whole Foods Market — the nation's biggest grocery chain in the Natural channel — can be a boon for any emerging brand. Naturally Chicago and Presence Marketing are pleased to host a webinar to educate brands on how to get on the shelves and succeed with Whole Foods Market.
- Rob Browning, Director of Strategic Accounts at Presence Marketing
- Sonia Hendriks, Vice President of Sales-Natural at Califia Farms
- Jillian Jaffe, Sales Director of Wella Foods
- Melanie Knitzer, Sales Director of Eat the Change
- Jim Slama (moderator), Managing Director of Naturally Chicago
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.