PowerPlant Ventures Announces Closing of $165MM Fund II
Investors in Beyond Meat, Thrive Market, Ripple Nutrition and Apeel Sciences debut second fund to grow plant-based food and food-tech companies
LOS ANGELES, Aug. 1, 2019 /PRNewswire/ -- PowerPlant Ventures (PowerPlantVC.com) is a Los Angeles-based venture capital firm investing in revolutionary plant-based food and beverage, foodservice and food-tech companies, such as Beyond Meat [BYND]. The firm announces today it exceeded its $100 million target and successfully closed on $165 million for PPV Fund II, L.P. The new fund has already completed investments in Vive Organic, the category leader in wellness shots and Your Super, a hyper-growth DTC plant based nutrition company.
The new fund will further PPV's mission to help build a better food system by providing capital and expertise to visionary entrepreneurs at the intersection of plant-based food and groundbreaking technology.
PPV's team is comprised of industry leaders including Mark Rampolla, the founder of ZICO Beverages, a pioneer of today's $8 billion coconut water category acquired by The Coca Cola Company in 2013; Kevin Boylan and T.K. Pillan, co-founders of Veggie Grill, the largest plant-centric restaurant company in the U.S.; and Dan Gluck, co-founder of Health Warrior, a superfood brand purchased by PepsiCo in 2018.
"We are in the early innings of a major food revolution. Upstart insurgent brands are responding to changing consumer demands at a much faster pace than the major incumbents," said Rampolla. "As a result, they have been capturing a significant share of the growth in the sector," Gluck explained.
"Many of these same companies are leveraging technology to improve the efficiency of their supply chain, routes to market, marketing and product innovation," said Pillan. Boylan concluded: "We are capitalizing on the $5 trillion global food sector amidst disruption."
For more information on PowerPlant Ventures and PPV Fund II, please visit PowerPlantVC.com.
About PowerPlant Ventures:
PowerPlant Ventures is a venture capital firm specializing in funding and advancing companies delivering better-for-you food in more sustainable and ethical ways. PPV provides capital, strategic guidance and operating expertise to visionary entrepreneurs leading disruptive plant-based brands including Beyond Meat, Thrive Market, Ripple Foods, Rebbl, Oh My Green, Square Roots, Beanfields, Veggie Grill, Nutriati, Your Super and Vive Organic.
PPV's team comprises innovators behind leading food brands such as Veggie Grill, the largest plant-centric restaurant company in the U.S.; ZICO Beverages, an early pioneer of today's $8 billion coconut water category acquired by The Coca Cola Company in 2013; and Health Warrior, a superfood company purchased by PepsiCo in 2018.
PowerPlant Ventures is headquartered in Los Angeles. For more information about the fund visit PowerPlantVC.com.
SOURCE PowerPlant Ventures
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