12 Top Venture Capital Firms for Food Startups
Last Updated: By TRUiC Team
Food is an essential part of our economy, and without it, an economy cannot thrive. Therefore, these are incredibly lucrative businesses that can prove to be worthwhile. If you want to start a business in the food industry, know that there is stiff competition for food startups.
The most successful food startups will have the capital, or money, needed to invest and grow their business. If you’re limited on funds, it’s a good option to consider venture capital firms, also known as VCs. A VC investment firm can help in financing your startup through funds that are gathered for your private business. Whether you need financing for developing food tech, marketing, or hiring experts, venture capital is one of the best ways to get the money you need to grow your business.
Also Recommended: Check out our list of the top venture capital firms.
Top VCs Investing in Food Startups
Below are some of the best VCs that will invest in food startups they deem as having the potential for long-term growth. If you believe you have what it takes to break into the food tech industry, then these firms below will help provide the funds and investments needed to help launch your food business to the next level.
Disclaimer: With so many venture capital firms around the world, we aren’t able to cover them all. Furthermore, the following VC firms are not officially ranked and are listed in no particular order.
1. First Beverage Group
- Location: Los Angeles, California
As the name suggests, First Beverage Group is a VC firm interested in helping people break ground in the beverage industry. If you have an idea for a drink, such as a new soda or other types of liquid beverages, this is the best VC firm for you.
However, they do have strict requirements, and will only invest in companies that have revenues between $1 million and $15 million. In addition, make sure your growth and profit margins are sustainable, meaning you’ll continue to make the same amount of profit for the foreseeable future.
The great thing about First Beverage Group is that, if you meet these requirements, they can invest big in your company, anywhere between $2 million and $15 million dollars depending on your product.
2. AF Ventures
- Location: New York, New York
AF Ventures is one of the best VCs to partner with if you have consumer goods that include food, personal care and beauty, pet care, and more. They pride themselves on providing the best resources to help your business grow.
They are a great VC firm for those that want to make their name known in their business’s ecosystem but just can’t seem to make friends with the right stakeholders and key players. AF Ventures can provide a plethora of resources to their food tech partners.
To qualify, a food business must make products that are sustainable, in demand, and have a positive ecommerce foothold. In addition, they do not work with restaurants, food-retail concepts, or alcoholic beverages. However, if you have a product related to health and wellness or another type of food or beverage, they might be interested in investing.
3. Khosla Ventures
- Location: Silicon Valley (Menlo Park, California)
Khosla Ventures is one of the largest VC firms in the food and tech industries. They value innovation and like to invest in companies that have ideas that are incredibly unique, innovative, and never thought of before.
The unique thing about Khosla Ventures is that you have two different funds to choose from. A seed fund is funding for science experiments to help you improve and design your food product. Main funds are designed to fund your actual business, so there are two different funds to choose from to help you at any stage of development.
They have an impressive portfolio, including Impossible Foods which is innovating vegetarian and vegan options, and other agricultural industries.
4. Big Idea Ventures
- Location: New York, New York
Big Idea Ventures is one of the best VC firms for those that have a food startup business dedicated to the betterment of humanity and agriculture. The Big Idea Ventures fund is here to help solve humanity’s biggest issues, and it is known for supporting scientists, engineers, and researchers on their quest to create new, innovative solutions for different industries. This includes agriculture.
The Big Idea Ventures VC firm currently has a new fund known as the New Protein Fund, which is perfect for food startups that are making a name for themselves in plant-based foods. The New Protein Fund and Accelerator can help you on your journey toward developing plant-based proteins, seafood, and dairy products.
- Location: San Francisco, California
AgFunder is one of the greatest supporters in the food tech industry. They understand that the world at large depends on the food industry to produce food supply, as well as utilize natural resources to the best of their ability. AgFunder’s goal is to transform the food industry. They began online in Silicon Valley and have since grown to be one of the most trusted VC firms netting approximately 85,000 subscribers.
If you’re looking for a VC firm that can help you in your early stages of development, AgFunder is a great investment firm. This is because they are willing to invest in seed to Series B startups. This means you need to have a prototype, team, and some sort of traction for your product. However, revenue is not necessary.
If you submit an application, AgFunder can get back to you in as little as a week. If they approve your funding, you can get a check from anywhere between $50,000 and $900,000. This is also great news for food startup companies that want a VC firm that’s willing to invest fast.
6. S2G Ventures
- Location: Chicago, Illinois
For entrepreneurs that are making waves in clean energy, S2G Ventures is one of the best VC firms to consider. S2G Ventures provides funding for food tech startups involved in clean energy, agricultural industries, food and agriculture, and real assets.
They are also available to invest in 5 different countries, making them a good option for entrepreneurs that are thinking about partnering or expanding outside of the United States. The values of S2G Ventures lie in the importance of humanitarianism, philanthropy, and the betterment of the planet.
7. Ankur Capital
- Location: Mumbai, India
Ankur Capital is dedicated to investing in industries that are making a change in the world using science and technology. While they normally invest in such things like battery technology and digital technology, they are also committed to investing in deep science technology.
This VC firm has a portfolio that includes various food tech startups. For instance, they have invested in Captain Fresh, a B2B company that helps get the freshest fish and seafood for trade with other companies. This is just one company of many that Ankur Capital invests in and that utilizes new innovations in food tech. So long as your food tech startup is backed by sound science, you can contact them for more information on becoming investors.
8. Unovis Asset Management
- Location: New York, New York
Unovis Asset Management is one of the leading VC firms dedicated to sustainability. Sustainability is the idea that our planet will continue to have natural resources on hand available to feed the population. With this in mind, Unovis Asset Management likes to invest in companies and food startups that specialize in alternative proteins.
In addition to providing funding for companies, Unovis Asset Management also provides a wealth of other resources for entrepreneurs, including integrating stakeholders and teaching startups the fundamentals of what their product needs to succeed in this competitive market.
They are also unique in that they also invest in convenience food startups. For instance, if you have an idea for a startup to make life easier for people, such as frozen foods or pre-made meals, Unovis Asset Management might also be open to investing in your business.
9. Veg Capital
- Location: United Kingdom (Loughborough)
Veg Capital is one of the best VC firms for startups that are still in the beginning stages of development. Veg Capital invests in companies that are introducing new, plant-based options. They like to invest in companies that are using alternatives for meat, dairy, eggs, and seafood. They also like to invest in different food tech companies that include convenience, new forms of production, and even cultivated meats.
If you’re looking for a VC firm that understands the expense and appreciates the work behind producing meat on a cellular level, then Veg Capital is one of your best options.
- Location: Berlin, Germany
FoodLabs is another venture capital firm that is investing in new companies with technologies to support the agricultural industries. FoodLabs is willing to invest in a variety of ventures so long as they promote accessibility for all as well as sustainability.
In addition, FoodLabs is also responsible for promoting to companies that are using synthetic biology to improve food resources and save the planet. FoodLabs is also a great VC firm for food startups that are in their infancy.
FoodLabs offers help with the ideation process, product testing and distribution, and obtaining seed finances.
11. The Yield Lab
- Location: St. Louis, Missouri
The Yield Lab is available to not only provide funding for food startups but also some much-needed mentorship and networking opportunities. By asking for investments from the Yield Lab, you can get help to create your food startup that is spearheading the way in innovation in the agricultural industry.
The Yield Lab itself will also donate and help fund businesses that are aiding in sustainability in the farming industries. If you have a business that values improvements in agricultural technology, The Yield Lab is the perfect place to start to get input from stakeholders as well.
12. Finistere Ventures
- Location: San Diego, California
Finistere Ventures prides itself on offering entrepreneurs in the food tech industry the building process of their business. They are familiar with key players and stakeholders and can help food startups create new business models to help them succeed.
Finistere Ventures is comprised of entrepreneurs, investors, farmers, and scientists alike. They have global access to technologies around the world, which is good news for those entrepreneurs that want to understand how to utilize their resources and connect with others in the agricultural industries.