Danone Ventures invests in AccelFoods
According to Bloomberg, Danone Ventures, has invested in AccelFoods, a fund run by two women that looks for upstart natural and organic brands that are stealing shelf space and sales from established food companies.
According to Bloomberg, Danone Ventures, has invested in AccelFoods, a fund run by two women that looks for upstart natural and organic brands that are stealing shelf space and sales from established food companies. Both companies confirmed the deal.
It’s the third investment for Danone Ventures—which was founded less than a year ago—and the latest example of a large food company launching an in-house VC fund in a bid to reignite sales growth. The unit has also put money into Farmer’s Fridge, which makes vending machines that sell organic salads and snacks, and a French baked-goods purveyor.
Founded in 2013 by managing partners Jordan Gaspar and Lauren Jupiter, New York-based AccelFoods has backed about 30 companies. The firm reopened its fund to make room for Danone, raising an additional $15 million in a round that increased its total pot to $35 million. Acre Venture Partners, a fund affiliated with Campbell Soup Co., previously invested in the fund.