SAN FRANCISCO & LOS ANGELES--(BUSINESS WIRE)--PowerPlant Partners, known predominately for backing leading plant-based consumer food and beverage brands, announced today the final closing of its third fund, PowerPlant Ventures III L.P. (PPV Fund III), at $330 million. PPV Fund III will continue to invest in consumer-facing brands that are better for people and the planet and will focus solely on growth stage companies. PPV Fund III will invest between $15 million and $40 million in target companies as active, primarily minority, investors.
Additionally, PowerPlant Partners announced it is expanding its strategic vision beyond food and beverage plant-centric products to include consumer technology, service and enablement companies that put human and planetary life at the center of business. This shift will enable the firm to grow its proven platform in the consumer-wellness space and offer a more integrated network for its portfolio companies and partners.
“We are thrilled to receive such strong support and commitment from our limited partners, especially during a period of increased market volatility,” said Dan Gluck, Co-Managing Partner of PowerPlant Partners. “This new fund will allow us to deepen and grow our efforts to find, fund and scale breakthrough companies that are building a healthier, more sustainable future.”
PPV Fund III has already made four investments in health and sustainable consumer food and beverage companies including Miyoko’s Creamery, Liquid Death, Partake Brewing and SYSTM Foods, a roll-up strategy that acquired and combined Chameleon Cold-Brew and REBBL. PowerPlant Partners’ network and success within the consumer-facing landscape puts the firm in a unique position to capitalize on the current market dislocation while simultaneously sourcing investments that are aligned with people and planetary health megatrends.
“With this additional capital, we’re expanding our team and building an even stronger bench of industry-leading operating advisors and partners,” said Mark Rampolla, Co-Founder and Co-Managing Partner of PowerPlant Partners. “This will enable us to continue to bring an unparalleled level of insight and support to companies and apply our experience to a wider range of businesses that put human and planetary life at the center of business.”
Wyatt Taubman, Co-Founder and CEO of Vive Organic said, “PowerPlant Partners has been a fantastic partner for our team, and we are proud to be part of their growing portfolio and network. The firm provides top-tier support for entrepreneurs who are navigating the complexities of scaling a business while putting health and sustainability first.”
PowerPlant Partners is led by the innovators and operators behind ZICO Beverages (acquired by The Coca-Cola Company) and Health Warrior (acquired by PepsiCo). Investment highlights from the firm’s portfolio include Beyond Meat, Thrive Market, Thistle, Vive Organic, OWYN, and the acquisition of ZICO from The Coca-Cola Company.
For more information about PowerPlant Partners, please visit PowerPlantPartners.co
About PowerPlant Partners
PowerPlant Partners is a global leader investing in companies that are better for people and the planet. The firm provides capital, strategic guidance and operating expertise to visionary companies, including Beyond Meat, Thrive Market, Ripple, Veggie Grill, Apeel Sciences, Liquid Death, Miyoko's Creamery, Vive Organic, and Partake Brewing. PowerPlant Partners’ leadership team is comprised of innovators behind leading food and beverage brands such as Veggie Grill, the largest plant-centric restaurant company in the U.S.; ZICO Beverages, an early pioneer in the coconut water category acquired by The Coca-Cola Company in 2013; and Health Warrior, a superfood company purchased by PepsiCo in 2018. PowerPlant Partners has offices in the San Francisco Bay Area and Los Angeles. For more information about the Firm visit PowerPlantPartners.co.