BY TAYLOR MILLS
Los Angeles recently saw an influx of capital for companies looking to disrupt the food-supply system. A plant-based protein venture fund, a carb-disrupting food-tech company and a grab-and-go healthy food chain raised a combined $54 million at various investment round stages in June.
In a difficult fundraising environment, the continued expansion of the healthy and alternative food sector reflects a growing consumer awareness about nutrition and its accessibility disparity.
“I strongly believe that food is the next big boom,” said Jennifer Stojkovic, a general partner at Joyful Ventures LP, a newly formed venture capital firm investing in companies innovating sustainable protein solutions based out of West Hollywood. “We can’t eat air and we increasingly are facing constraints that are insurmountable with our current system.”
Glendale-based Alpha Foods, Inc., a company producing plant-based meat alternatives, partnered with global market research firm The Harris Poll to gauge public sentiment towards dieting trends. According to the report, which was piublished last year, Americans are embracing a fluid spectrum of eating more than just fast food or processed-food options.
Los Angeles has long been considered ahead of the plant-based and healthy food trend curve. Local companies including Manhattan Beach-based Beyond Meat Inc., Playa Vista-based Thrive Market Inc. and Culver City-based Daring Foods Inc. have attracted widespread consumer attention in the last decade. Now, the next wave of innovators in the space want to capitalize on the hype by making the products more affordable.
** Click here to read the full-text **
