Chicago-based investment firm S2G, known for investments in prominent food and beverage companies such as Beyond Meat, Just Ice Tea and Once Upon a Farm, has closed the window for new investors in its $1 billion Solutions Fund I.
The growth-stage investment fund backs companies primarily in the United States and Europe that “strive to strengthen food and energy security and deliver positive environmental and human health outcomes,” said S2G.
The fund’s $1 billion in commitments come from three sources of institutional investors: pension funds, funds of funds and advisory firms representing high-net-worth individuals.
“This fund expands our ability to provide the growth capital required to commercialize transformative technologies at a pivotal moment in the global economy,” said S2G Managing Partner Aaron Rudberg. “By investing at the seams where food, energy and ocean systems intersect, we see opportunities to accelerate solutions that are both economically superior and more resilient than legacy models.”
Growth capital support
S2G has already deployed $300 million of the Solutions Fund I across 10 investments, partnering with companies that are typically unavailable outside of traditional capital markets, S2G said.
Companies connected to the food and beverage industry include:
- Exacto, Inc. - An agriculture input specialist based in Sharon, Wis., developing formulation and delivery technologies for herbicides, fertilizers and other inputs. The technology improves herbicide performance by up to 90% and reduces water consumption by 30%.
- Oxzo - The Chilean oxygenation technology company focuses on aquaculture systems that help fish farmers optimize oxygen supply. Rising water temperature and algae blooms are making it harder to manage oxygen levels in fish farms. Oxzo helps salmon farmers ensure optimal conditions for healthy fish growth.
- Pyx Health - The Tucson, Ariz.-based company offers personalized engagement for hard-to-reach and vulnerable populations. Pyx pairs human connection with food security.
- Sojo Industries - The Bristol, Penn.-based firm offers a robotics-powered high-speed contract packaging system that provides real-time supply chain visibility.
S2G’s investment strategy is centered on technologies that improve supply chain management and improve industrial productivity to “accelerate M&A, expand distribution and scale validated business models,” the investment firm said.
Food as health in focus
Founded in 2014, S2G Investments (formerly known as S2G Ventures) developed a reputation for its financial backing for healthy food manufacturers and companies supporting food as medicine initiatives.
Principal Dan Ripma, along with Associate Caroline Hogan and Managing Partner Sanjeev Krishnan, co-authored “The Food As Health Opportunity,” a report that identifies nutrition as a strategic asset for the nation.
The authors note that the entire concept of nutrition is experiencing an identity crisis, with governments, consumers and businesses all defining it differently and falling short of its potential to enhance human health.
S2G advocates bridging the food and healthcare sectors to advance systemic change that “allows entrepreneurs and operators to build investable businesses by integrating food and nutrition to drive measurable health outcomes.”
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