Startups are continuously growing, and increasing in traction nowadays. Yet the competition is fiercely intense, sometimes all these startups need to succeed is a friendly boost from investors. This is one of the main reasons behind the announcement of Campbell Soup Co., an international food company located in Camden, New Jersey, that it will be starting a $125 million venture capital fund dedicated to investing in food startups. The fund is called Acre Venture Partners, and will be handled by unnamed outsiders. Nonetheless, even though it will be a separate entity from Campbell, the Camden food company will act as the fund’s exclusive partner.
According to Morrison, 400 food startups had garnered around $6 billion in venture capital fund, since 2010. She added that, until now, their involvement in that area has been minimal, except for their investment in Juicero Inc, a juicing vegetable and fruits startup.
The company will be represented in the investment committee by Campbell Fresh President, Jeffery Dunn. Campbell Fresh is a new branch of the food company which houses both Garden Fresh Gourmet and Bolthouse Farms under its umbrella.
The Campbell Soup Company, established in 1869, has sales which exceed $8 billion yearly. They are known for their wide range of food products, soups and beverages. They are currently focused on developing their label into new divisions, which makes their new fund a step in the right direction for the food company as well as for the food startups that are transforming the food industry through their health-conscious foods.