In This Issue:
- Food Venture Financing Trends
- CPG Corporate Venture and Private Equity Funds
Food Venture Financing Trends
- Mad Capital, a credit firm helping farmers move towards regenerative farming practices, announced that it raised $78.4 million for its second fund, Perennial Fund II.
- Nitricity, a climate and agtech startup, announced that it raised $50 million in its Series B round.
- FBioweg, a biotechnology company using food by-products to replace microplastics, announced that it raised €16 million in its Series A round.
CPG Corporate Venture and Private Equity Fund
This week's featured corporate venture and private equity fund is Lotus Bakeries' Corporate Venture Fund – Fast Forward 2032.
- Belgium-based Lotus Bakeries, owner of the Nakd snack bar and BEAR snacks brands, launched an incubator fund called Fast Forward 2032 ("FF2032") in July 2019 to invest in emerging U.S. and EU-based brands and growth companies offering "innovative products, technologies, or market approaches within the food sector."
- FF2032 primarily focuses on innovative products, technologies or market approaches within the food and drinks industry. Additionally, this venture fund takes keen interest in the companies that specialize in innovating in the field of sustainability and food technology.
- The portfolio companies include the following:
- The Good Crisp Company, a U.S. savory snacking brand
- Peter's Yard, a British brand of artisanal sourdough crackers, crisps, and crispbread
- Oot Granola, a Netherlands based organic granola start-up
- Partake, a U.S. brand of gluten-free and allergen-friendly cookies
- Love Corn, a U.S. brand of crunchy corn snacks
