In This Issue:
- Food Venture Financing Trends
- CPG Corporate Venture and Private Equity Funds
- Links to Relevant Content and Events
Food Venture Financing Trends
- Momofuku Goods, a pantry essential brand, announced that it raised $17.5 million in its Series A round. The company plans to use the funds to increase its product offerings as well as scale its operations.
- PepsiCo announced a $216 million investment for strategic partnerships with three major farmer-facing organizations to support the regenerative agriculture industry in the US. The partnerships expect to support regenerative practices on more than three million acres of farmland in the U.S.
- Oatly announced that it raised $425 million in a deal with hedge fund Silver Point Capital. The deal includes $125 million in guaranteed term loan B credit and $300 million in convertible notes.
CPG Corporate Venture and Private Equity Fund
This week's featured accelerator is Food Centricity.
- Food Centricity, founded in 2012, is an accelerator that supports food businesses’ success in Southern California and beyond. Food Centricity primarily assists early and growth stage packaged food companies between pre-revenue and $20 million in sales.
- Some companies that have been assisted by Food Centricity include:
- Solely
- Nut Pods
- Kevita
- Tea Botanics
- Frios
- Foodstirs
- Matcha Source
- Client testimonials can be found here: Clients & Testimonials — FoodCentricity®
Links to Relevant Content and Events
ARTICLES
- Good Meat Receives FDA Clearance For Cell-Based Meat
- ‘It Will Be a Year of Bust-Ups, Roll-Ups and M&A’: VC Predictions For Agrifoodtech Investment
- President Biden’s Biotechnology and Biomanufacturing R&D to Further Food and Agriculture Innovation report – see page 15 for food and ag information.
- David Chang’s Pantry Essentials Brand Momofuku Goods Raises $17.5 Million
- SideChef’s Kevin Yu Eyes Next Phase of Growth After Raising a $6 Million Series B
- Oatly Snaps Up $425 Million In Fresh Funds and European McDonald’s Deal
- Pet Food Companies Natural Balance, Canidae Announce Merger
- PepsiCo Announces $216 Million Investment in Long-term Partnerships with Three Major Farmer-facing Organizations to Support Regenerative Agriculture Transformation on More than Three Million Acres of U.S. Farmland
UPCOMING EVENTS
Naturally Bay Area
CEO & Founders Forum Meeting
Thursday, April 20, 5:00 – 6:00 p.m. PT
Location: Mattson, 343 Hatch Drive Foster City, California
This meeting will focus on innovation. Pete Brennan, Naturally Bay Area Board Member and VP of Innovation at Mattson, will facilitate this interactive session and take you on a tour of the Mattson facility.
Stay after the Forum Meeting for a community-wide networking event with food and beverages hosted by the Mattson team (please register for both events if you plan to stay.)
You must be a paid member of Naturally Bay Area, and be a Founder or CEO of a Natural Products CPG brand to participate.
Naturally Bay Area
Sustainable Innovation Networking Night at Mattson
Thursday, April 20, 6:00 – 8:00 p.m. PT
Location: Mattson, 343 Hatch Drive Foster City, California
Connect with the Naturally Bay Area community and celebrate Earth Day at Mattson, in Foster City. Enjoy food and beverages and learn about precision fermentation, organic and regenerative agriculture, and more!
Naturally Bay Area
Quick Bites: Category Trends with Top Retail Buyers
Wednesday, April 26, 12:00 – 1:00 p.m. PT
With EXPO West fresh in everybody's mind, Naturally Bay Area has invited buyers from top retailers to reveal the industry trends they are excited about and share tips on how to be successful at their stores. Hear about the trends they're seeing, review timing and criteria, preferred marketing support tactics, and how to set yourself up for success.
Speakers:
- Jen Berliner, Head of Marketing, Sales and Ecommerce at Patagonia Provisions
- Monika Coyle, Executive Director Local and Emerging Brands of Whole Foods Market
- Thuy Nguyen, Category Manager at Thrive Market
- Tobi Seriki, National Category Manager at Albertsons
Naturally Bay Area
5th Annual Pitch Slam + Community Celebration
Wednesday, May 10, 3:30 – 8:00 p.m.
Let's celebrate the Bay Area's up-and-coming Natural Products Industry brands with a community celebration and pitch competition. A select group of entrepreneurs will pitch to the industry's premier investors, retailers, and industry peers for a chance to win prizes worth tens of thousands of dollars, including a booth at EXPO East and the opportunity to pitch on the national stage!
Submit Your Pitch Slam Applications Here
Due WEDNESDAY, MARCH 29