PowerPlant Partners, known predominately for backing leading plant-based consumer food and beverage brands, announced 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.
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.
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.