In This Issue:
- Food Venture Financing Trends
- CPG Corporate Venture and Private Equity Funds
- Links to Relevant Content and Events
Food Venture Financing Trends
- Voyage Foods, a California foodtech company that develops eco-friendly snacks and spreads, announced that it raised $22 million in funding.
- Planet A, a German-based foodtech company that develops climate-friendly cocoa alternatives, announced that it raised $15.4 million in its Series A round.
- Utz Brands announced that it is selling its Good Health and R.W. Garcia snacks to Our Home, the owner of Popchips, for $182.5 million.
CPG Corporate Venture and Private Equity Fund
This week's featured corporate venture and private equity fund is 1st Course Capital.
- 1st Course Capital ("1CC") is an early stage venture capital firm that invests in companies that change "how we grow, produce, and distribute food."
- The portfolio companies include the following:
- BlueCart – Powering B2B e-commerce solutions for the foodservice industry
- Bobbie - Infant formula produced using clean and transparent ingredients
- Ellement – Personalized prenatal supplements and customized support
- AgriDigital - Commodity trading platform remaking the supply chain for improved traceability and margins for farmers
- Dispatch Goods - Reverse logistics company offering re-usable packaging for restaurant delivery and takeout
- Maev - Building the future of dog care
Links to Relevant Content and Events
ARTICLES
- Food as Medicine Platform Foodsmart Expands Reach to 7.4 Million Patients as it Reels in $10 Million in Fresh Funding
- Big Idea Ventures' GFRP Fund Acquires Edible Packaging Startup DisSolves
- Corbion Divests Emulsifier Business to Kingswood
- Innova Memphis Leads $2.8 Million Round For iYOTAH to Tackle the Dairy Sector’s Massive Data Problem
- Trek One Acquires Alter Eco Foods
- FreshRealm Acquires Marley Spoon Operations for $24 Million
- Robert Downey Jr and CPG Exec Enter $28 Billion Coffee Category with Happy
UPCOMING EVENTS
Naturally Bay Area
Quick Bites: 2023 Food Venture Financing Trends and 2024 Prospects
Tuesday, February 13 | 12:00 p.m. – 12:45 p.m. PT
Join Naturally Bay Area for a roundtable discussion about the financial landscape for raising capital in the food & beverage industry. We'll reflect on food venture financing trends in 2023 and discuss how the food and beverage capital markets might change in 2024. A panel of industry experts will explore the dynamics shaping the mergers and acquisitions landscape and offer an insider's take on the past, present, and future of food venture financing.
Speakers:
- Dan Harris, Partner, Head of Corporate Practice at Braun Hagey & Borden
- Don Buder, Partner, Food & Beverage Practice at Davis Wright Tremaine
- Rodney Clark, Managing Partner at Aspect Consumer Partners
- Anna Whiteman, Principal at Coefficient Capital
Naturally New York
Purchase Order Financing 101: How Brands Can Get Extra Liquidity to Fuel Future Growth Opportunities
Wednesday, February 14 | 12:00 p.m. – 1:00 p.m. ET
Have a potential order that you can't take on without financing?
Are you at risk of missing out on a potential big sale?
Do you have no or limited credit with your suppliers or contract manufacturers?
Purchase Order ("PO") Finance is a short-term alternative inventory financing option that provides incremental working capital to cash-constrained businesses. PO Finance can be an excellent complimentary finance tool to an existing or newly established accounts receivable or factoring facility. PO finance is critical for growth now more than ever to support pre-sold inventory purchases from credit-worthy buyers. PO Finance can fund up to 100% of the COGS (inclusive of freight and duties) for pre-sold inventory purchases.
Speakers:
- Jennifer Draffkorn, Senior Portfolio Manager at Rosenthal & Rosenthal
- Megan Slovak, Senior Underwriting Manager at Rosenthal & Rosenthal
Naturally Chicago
Master Your Retailer Sell Story for Expo West Featuring Fresh Thyme & SPINS
Thursday, February 15 | 3:00 p.m. – 4:15 p.m. CT
With 70 stores in 10 states throughout the Midwest, Fresh Thyme Market is a community-focused grocer that may be a great fit for your brand grow in 2024. Join Naturally Chicago for a free webinar to hear directly from Fresh Thyme leadership & SPINS about how to have productive conversations with the retailer at Natural Products Expo West (and beyond!).
Jonathan Lawrence, Vice President of Center Store at Fresh Thyme, will kick off the webinar to share his insights around how Fresh Thyme selects brands to stock, and how the innovative retailer partners with their brands to succeed and grow over time.
Benji Fitts, Director of Growth Strategy at SPINS, will then discuss how you can stand out to retailers, including Fresh Thyme, with data and insights that they care about the most.
To wrap up the webinar, Jim Slama, Naturally Chicago Managing Director, will ask some additional burning questions that are on brands' minds and take audience questions for Jonathan and Benji to answer in real-time!
Speakers:
- Benji Fitts, Director of Growth Strategy at SPINS
- Jonathan Lawrence, VP or Center Store at Fresh Thyme Marke
- Jim Slama (Moderator), Managing Director of Naturally Chicago
Naturally North Bay
Building a Dynamic Workforce: Uniting Remote, Hybrid, and Onsite
Tuesday, February 20 | 12:00 p.m. – 1:00 p.m. PT
Join Naturally North Bay for apanel discussion on "Building a Dynamic Workforce: Uniting Remote, Hybrid, and Onsite Teams" to discover best practices for creating a cohesive work environment that eliminates preferential treatment perceptions, fosters strong relationships across diverse work groups, and measures engagement effectively. The guest panelists, with extensive experience in managing these unique work arrangements, will share their insights, real-world examples, and practical strategies to help you navigate the challenges and opportunities presented by remote-only, hybrid, and onsite-only employees
Speakers:
- Dr. Suzi Potts, Founder & Owner of SP Consulting
- Michael Weinberger, Senior Director of Human Resources at Challenge Dairy
- Mickele Carpenter, HR Director of Traditional Medicinals
- Geraldine Flatt, SPHR, VP, People and Business Operations at Sonoma Creamery
Naturally Austin
Amplifier Facility Tour
Tuesday, February 20 | 3:00 p.m. – 5:00 p.m. CT
Location: Amplifier Fulfillment, Burleson Road 8015, Suite 100, Austin, TX
Join Naturally Austin for a visit to Amplifier in East Austin to tour their fulfillment center and learn more about their distribution work and how it benefits your company.
Naturally Boulder
Networking Collision Series at Oskar Blues
Wednesday, February 21 | 5:00 p.m. – 8:00 p.m. MT
Location: Oskar Blues Home Made Liquids & Solids, Hover Street 1555, Longmont, CO
Welcome to the latest installment of Naturally Boulder's Collision Series of Networking Events – a low-key, relaxed series of no-registration-required connection opportunities where you'll run into old friends and connect with new contacts. Want a chance to meet more folks in the natural and organic products industry? Wear green if you can to help spot each other. This is a free event; pre-registration is available but not required. Refreshments will available to purchase at the venue on your own tab. Keep an eye out for Naturally Boulder’s board hosts, Paloma and Jenna!
Naturally Minnesota
Cracking the Retail Code
Friday, February 23 | 8:00 a.m. – 4:00 p.m. CT
This workshop is right for you:
- Your business is profitable (between $75,000 and $500,000 in sales, some retail) and you want to take its performance to the next level.
- You have a strong feeling that retail is the right path for your brand, or you want a channel to pursue.
Walk away with:
- A FREE One-on-One session with Kate LaBrosse Consulting
- A fresh pricing strategy
- Tools and templates:
- Promo playbook
- Retail incentives
- Spec sheet
- Order form
- Sell sheet
- Master presentation deck
- Account outreach, email checklist and sequence