AUSTIN, MINN. — Hormel Foods Corp. is investing in a venture capital enterprise dedicated to alternative proteins and plant-based foods.
Hormel’s 199 Ventures is the anchor investor in the new venture capital division of Green Circle Capital Partners.
“We are excited to be investing in the fund and all that it will do to help jump start this growing category,” said Bryan Kreske, leader of 199 Ventures. “Since committing to invest in the Fund, we are looking forward to the many areas of investment including alternative protein and plant-based foods.”
Since 2013, Green Circle Capital Advisors, the investment banking advisory division of Green Circle Capital Partners, has been supporting natural products companies (food, beverages and supplements).
“The manner in which industry makes and distributes food has not kept pace with technology advances and, as a consequence, without significant investment and change the industry will be unable to keep up with the needs of a growing, global population while operating sustainably,” said Stu Strumwasser, founder of Green Circle. “We are seeking out technologies that can help bridge the gap between sustainable food supply and population growth—while offering what we believe is tremendous financial opportunity to our collective stakeholders.”
With a target of $25 million in committed capital, Green Circle is currently considering Seed stage and Series A investments.