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PowerPlant Partners secures $330Mn to back growth-stage vegan firms

Date: September 12, 2022 Meghna Singh Meghna Singh
PowerPlant Partners secures $330Mn to back growth-stage vegan firms 
Growth equity company PowerPlant Partners, which invests in F&B and foodservice businesses, has reportedly raised more than $330 million for its third fund, the PPV Fund III, which will exclusively support growth-stage vegan companies.



According to company founders, Mark Rampolla and Daniel Gluck, this will be the first ‘true’ growth equity fund’ focused on the vegan sector.



Gluck stated that the company is thrilled to receive a strong commitment and support from its limited partners, given the increasing market volatility.



He further explained that the new fund will enable the company to strengthen and boost efforts in finding, funding, and scaling breakthrough firms that are working towards a healthier and more sustainable future.



Rampolla stated that the additional fund will enable PPV to grow its team and create a stronger portfolio of industry-leading operating partners and advisors.



He also added that the firm will be able to continue bringing an unparalleled level of insight and backing to companies and utilize their experience towards a broader range of businesses that have human and planetary life at their core.



In its official statement, PowerPlant Partners highlighted that it is broadening its strategic vision beyond plant-based products, which will include related service, technology, and enablement firms having human and planetary life at their center.



This transition will help the firm expand its platform and provide a better-integrated network for its portfolio partners and companies.



With PPV III, the company plans to invest around $15-40 million in businesses having an annual revenue between $10-75 million.



In an interview, Gluck stated that PowerPlant Partners shifted focus towards bigger and more established growth companies that have a direct route towards profitability in 1-3 years.



He pointed out that the firm has always invested in companies that place human and planetary life at the core of their business and that each of its portfolio companies are also embracing this theme.



In a final note, Gluck stated that the company is taking its proven platform from the consumer-wellness segment to other related sectors and providing a better synergistic and integrated network for its portfolio partners and companies.



Source credit: https://www.greenqueen.com.hk/powerplant-partners-330-million-growth-stage-fund/

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Meghna Singh

An English Literature graduate, Meghna Singh ventured into the profession of content development to incorporate her knack for writing articles across verticals including technology, healthcare, business, and alike for News Origins and Newsorigins. She has also completed her MBA in Tourism and worked as a content creator in the field of product development.