As consumer tastes continue to evolve, the more demand there is for high-quality healthier products.
With that in mind, these suburban moms turned venture capitalists are on a mission to bring healthier packaged food brands to the masses.
Both Lauren Jupiter and Jordan Gaspar used to be in grocery aisles as “the people who read the nutrition facts, the people who read the ingredients in the two different products sitting next to each other on the shelf" and decided to launch the investment firm AccelFoods to help grow small packaged food products they believe in.
Found in 2013 with only $4 million, the firm now has three separate funds of $85 million.
The fund and the companies it backs have been a success because consumers have changed the way they shop at grocery stores.
They want “cleaner labels, more transparency, not having ingredient panels that are 60 items long and full of words that you can’t pronounce,” said Jupiter.
Today's buyers are willing to invest in higher quality products that are better for them. Food is now seen as fuel to millennials, the better the fuel or food, the better performance of the engine or body.
"The Baby Boomer generation that’s aging and looking for natural alternatives to traditional medicine...the millennial mom purchasing on behalf of her family and investing in allergen-friendly foods...digital natives who are willing to invest more heavily into the food they put in their bodies than even the house that they sleep in,” said Gaspar.
Read more about the firm and how it's fostering the growth of smaller food product companies at "Forbes' now.
Earlier in the year, we spoke to Gasper about how the firm is disrupting the industry with its companies in its portfolio offering innovative food products.
Listen to this episode of The Barron Report below, where host Paul Barron speaks with Gaspar about trends and what types of companies AccelFoods seeks to invest on.