Food Tech Startup Launches New $165 Million Fund

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After a successful launch of its first fund that spawned several major food based startups, an LA based venture capital firm is now launching another.

PowerPlant Ventures Partners (L to R) Dan Gluck, Mark Rampolla, Kevin Boylan, and T.K. Pillan – Photo courtesy of Tom Cocking (www.fmtsphotography.com) and Cision/PRNewswire

PowerPlant Ventures has announced the launch of PPV Fund II, LP, which has closed on $165 million, topping its previously set target goal of raising $100 million in funding. Already, the fund has investments in Your Super, a hyper-growth DTC plant based nutrition startup, and Vive Organic, which provides wellness shots.

Through its initial launch, Power Plant Ventures has helped launch several successful food tech based startups including Beyond Meat, Oh My Green, Veggie Grill and Thrive Market.

“We are in the early innings of a major food revolution,” said PPV partner Mark Rampolla, in a statement. “Upstart insurgent brands are responding to changing consumer demands at a much faster pace than the major incumbents.”

Adds co-partner Dan Gluck, “As a result, they have been capturing a significant share of the growth in the sector.” Kevin Boylan and T.K. Pillan round out the management team for the new fund.

The newly launched fund will expand PPV’s mission to help build a better food system by providing capital and expertise to visionary entrepreneurs at the intersection of plant-based food and groundbreaking technology.