This week, Los Angeles-based venture capital firm PowerPlant Ventures (PPV) announced that it secured $165 million, surpassing its target fund amount of $100 million. PPV is comprised of coconut water brand ZICO Beverages founder Mark Rampolla, vegan-fast food chain Veggie Grill founders Kevin Boylan and T.K. Pillan, and nutrition brand Health Warrior founder Dan Gluck. The firm will use its funds to support emerging companies and concepts in the plant-based industry. “We are in the early innings of a major food revolution. Upstart insurgent brands are responding to changing consumer demands at a much faster pace than the major incumbents,” said Rampolla. “As a result, they have been capturing a significant share of the growth in the sector,” Gluck added. Previously, PPV has invested in a number of companies that are now showing strong growth, including vegan meat brand Beyond Meat, wellness shot brand Vive Organic, and plant-based nutrition company Your Super. “Many of these same companies are leveraging technology to improve the efficiency of their supply chain, routes to market, marketing, and product innovation,” Pillan said. “We are capitalizing on the $5 trillion global food sector amidst disruption,” Boylan added.
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