STRAY DOG CAPITAL LEADS LATEST ROUND OF INVESTMENT AS IT CONTINUES SUPPORT OF GAME-CHANGING COMPANIES THAT ARE DRIVING SOCIAL IMPACT ALONG WITH COMMERCIAL SUCCESS
Stray Dog Capital, a venture capital fund that specializes in backing plant-based startups, today announced that it is the lead investor in the latest investment round for Barvecue®, Inc., a North-Carolina based meat alternative startup. This current round of investment totals $2 million dollars and includes other investors such as Siddhi Capital, Clear Current Capital, and select investors from the GlassWall Syndicate.
According to the Plant Based Foods Association, one-third of Americans are actively reducing their meat consumption with 29 percent of them also claiming to be “flexitarians”. Retail sales of plant-based foods in the US grew 31 percent in the past two years, bringing the total market value to $5 billion. Research also shows that while consumers are drawn to these plant-based proteins for health reasons, taste is still the #1 driver. Barvecue Inc. produces 100 percent plant-based products that emulate the taste and mouthfeel of their traditional meat counterparts. The modern take on this traditional fare provides an opportunity for retailers, distributors, and food service providers to meet the growing demand of consumers that are seeking plant-based alternatives to familiar foods. Stray Dog Capital is an impact fund that aims for top tier returns via investments in startups that have a positive impact on people and the planet; Barvecue is the latest addition to the Fund’s portfolio of over 30 investments, which include companies such as Beyond Meat, Miyoko’s, and Kite Hill.
“Demand in the plant-based food category is surging, and Barvecue products bring a short ingredient list, solid nutritional profile, and a taste that rivals traditional barbecue,” said Johnny Ream, Principal, Stray Dog Capital, whom will join the company’s Board of Directors. “We’re really excited to partner with the company and help bring Barvecue’s products to thousands of locations in the U.S. and beyond.”
Since 2014, Stray Dog Capital has been investing in early stage startups and companies that are driving healthier, humane, and more sustainable outcomes predominantly around the plant-based and cultivated meat categories. Barvecue will use the additional funds from the investment round to build out their manufacturing capabilities and make hires in key areas.
“The Company started with an idea. Could we produce great tasting plant-based barbecue and build a successful food brand around that product?” said Lee Cooper, CEO, Barvecue. “The idea gained traction, the Barvecue name was born, and the Company was established in October 2017. We set off on our journey to create the #1 plant-based barbecue brand while building a company that cares about people, animals and the planet.”
Barvecue is the latest forward-looking startup supported by Stray Dog Capital, who continue serving as an important platform for entrepreneurs looking to improve our food system and our planet.
For more information please visit www.straydogcapital.com and www.barvecue.com.
