How This Firm Became One of the Biggest VC Funds in Food

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.

Female-Led Funding Startup, AccelFoods Helps Other Food-Focused Startups like Soozy's Thrive

Ever wondered how grocery stores will look like five years from now?

This is something Jordan Gaspar, co-founder of AccelFoods, thinks about daily.

AccelFoods is a funding startup that invests in other startups that have the potential of disrupting food categories in the grocery aisles and beyond through their innovative products.

On this episode of The Barron Report, our host Paul Barron speaks with Gaspar and Susan Chen, CEO of Soozy’s, a frozen, gluten-free baked good product company that has partnered with AccelFoods in order to grow its business. The three discuss how the relationship has been between the venture capitalist group and the investee, Soozy’s role in its snacking category, what types of companies AccelFoods seeks to invest on, and trends in the marketplace among other topics.

Listen above to learn more about these trailblazing companies!


Show Notes:

  • 01:43 - Purpose of AccelFoods

  • 03:48 - Soozy’s Role in the Frozen Food Segment

  • 05:47 - AccelFoods’ Investment in Soozy’s

  • 09:26 - Types of Companies AccelFoods Invests In

  • 10:47 - Trends In The Marketplace

  • 14:38 - Soozy’s Differentiator in Snacking Category

  • 17:52 - Product Packaging

  • 23:16 - Size of Companies AccelFoods Invests In

  • 26:09 - Macro Understanding of Food Industry

  • 28:00 - Impact of Social Media for Soozy’s

  • 29:58 - Future Growth Plans for Soozy’s

  • 31:52 - Challenges in Male-Dominated Venture Capitalist World

 
TBR-logo(black).png
 

Is In-Car Commerce the Next Big Foodservice Trend?

On this episode of On Foodable Weekly: Industry Pulse, we're taking a look at in-car commerce startup, Cargo. Cargo provides a solution to the question, what if I don’t want to get out of the car?

Convenience for consumers who utilize ridesharing, Cargo provides snacks, beverages and miscellaneous items like electronics and beauty products for sale. The center console box features an assortment of items provided by big partners like Coca-Cola, SnackNation, Red Bull, Kellogg's and more.

Recently partnering with the rideshare giant itself, Uber and Cargo are disrupting the retail industry.

The global partnership will be available to riders in San Francisco and Los Angeles first. Uber drivers who choose to provide Cargo’s service to their riders can go to their local Uber service hub and pick up the Cargo box.

What’s in it for drivers? Cargo allows not only for a way to upgrade rideshare service and earn shining reviews and ratings but additional income. Uber and Cargo estimates that drivers can earn about $100 extra per month through Cargo boxes.

For every product a driver sells, including free samples, Cargo will pay the driver one dollar and 25 percent of the product’s retail price.

Learn more about Cargo in the video above and at “Inc.com