Hi everyone, it was a major week for Springdale as the official onboarding of Marissa as our third General Partner has made the headlines across the several mainstream and trade media outlets with more publications planning to announce the news in the coming days. Outlaw has also joined the Springdale family with the closing of our investment. Welcome, Danielle! I am excited to include these links in our weekly headlines roundup:
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- Springdale Ventures embarks on the next chapter of growth with new hires and plans to raise a second fund. Killer quotes from @Genevieve Gilbreath are also included in this fabulous piece: “When women have control of the money, they use it differently, and they invest it differently. They’ll tend to invest it in other women and more diverse founders.” – FoodNavigator-USAÂ
- Marissa Epstein has joined Springdale Ventures as its third general partner. Her appointment comes as the Austin-based venture capital firm, which invests in early-stage consumer brands led by diverse entrepreneurs, is preparing to raise for its second fund. –Â Food Business NewsÂ
- Austin, Texas-based Springdale Ventures, which invests in early-stage consumer brands, appointed Marissa Epstein as its third general partner. Ms. Epstein has expertise in the health, wellness and nutrition sectors, and was most recently director of The University of Texas Nutrition Institute. – Wall Street Journal VC Pro
Back to industry news:Â
- Government stimulus, elevated savings and vaccinations have helped increase U.S. retails sales in June by 1.3%. Pepsico, in particular, reported its fastest sales growth in at least a decade. – Bloomberg
- Oatly, which went public in May, dropped more than 9% in share price after short seller Spruce Point attacked the company’s practices, claiming its revenue was overstated. – various outlets
- Meat alternatives players see uptick in investor interest with Nestle tapping into the sector through a partnership with Future Meat Technologies, and Wicked Kitchen’s recent $14 million series A raise led by Unovis Asset Management –Â various outletsÂ
- Coca-Cola is the changing the taste and look of one of its most popular soft drinks: Coca-Cola Zero Sugar – New York TimesÂ
- Thrive Market, an online membership-based grocer, is reportedly working with Goldman Sachs to mull an initial public offering and seeking a valuation of more than $2 billion –Â Bloomberg
- Apoorva Mehta, the billionaire founder of grocery delivery app Instacart, is stepping into an executive chairman role while the head of the Facebook App, Fidji Simo, will become Instacartâs CEO. –Â Forbes
- Suja Juice, which has helped mainstream the cold-pressed juice category, has been acquired by private equity firm Paine Schwartz Partners after experiencing unprecedented revenue and profit. – FoodNavigator-USA
- Comet Bio, a startup that develops functional fibers and sweeteners from upcycled ingredients, has closed a $22 million series C round led by private equity firm Open Prairie to ramp up production. – FoodNavigator-USA
Have a great weekend!
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