- Supply Change Capital announces the successful close of its inaugural $40M Fund.
- The fund is amongst the largest Latina-led funds, making a strong statement in the venture capital landscape.
- The firm has a unique focus on the future of food, investing in early-stage food technology companies.
- The portfolio boasts a high diversity of founder backgrounds with 80% led by Latinx, Black, or Female Founder/CEOs.
- Key partners include 301 INC, MassMutual, Bank of America, and J.P. Morgan Asset Management, among others.
Breaking Boundaries in the Future of Food
It’s not every day that a venture capital firm manages to steer the conversation and shift paradigms. Yet, that’s precisely what Supply Change Capital is accomplishing. The firm recently announced the successful close of its debut $40M Fund, dedicated to investing in the future of food.
Recognized as one of the largest Latina-led funds, Supply Change Capital has already made a significant impact since its inception in June 2021. Thus far, the firm has distributed over $13 million across 15 early-stage food technology and agriculture companies. This focused investment effort, aimed at reshaping the food industry, signifies a fundamental shift in the way we approach food technology and sustainability.
The Firm’s Strategic Direction and Impact
Supply Change Capital’s investments reach across a broad spectrum of the food industry, encompassing deep tech food, agriculture, ingredient companies, supply chain technology, and enterprise software. More remarkably, Latinx, Black, and/or Female Founder/CEOs lead 80% of the portfolio companies, signifying the firm’s commitment to diversity and inclusion.
Johnny Tran, managing director, 301 INC, the venture capital arm of General Mills, lauded the firm, stating, “Supply Change Capital represents the future of food and the venture industry… [it] has a pulse on the cultural, demographic, and sustainability shifts needed to usher in the next wave of groundbreaking innovations for our industry.”
Unveiling the People Behind the Firm
Supply Change Capital’s leadership is as impressive as its commitment to diversity and innovation. Co-founders Noramay Cadena and Shayna Harris, both industry veterans with four MIT degrees and a Fulbright Scholarship between them, helm the venture capital firm.
Cadena is a mechanical engineer with over a decade of experience in bringing complex space programs to market at Boeing before transitioning to venture capital in 2015. Harris, on the other hand, is a respected food industry expert with executive leadership experience in fast-growing food and software startups.
The two leaders echo a shared vision of transforming the global food industry. Harris stated, “Supply Change Capital invests in the technologies that underpin a more resilient food system. We invest through the lens of climate and culture, table stakes given the current existential crisis that our planet and society faces.”
Transforming the Food Industry with Diverse Investments
Supply Change Capital’s unique focus on diversity and sustainability is evident in its portfolio. As stated by Noramay Cadena, “From our intersectional set of investors to our robust portfolio, we’ve seated a venture firm platform that can endure and thrive.” All portfolio companies have a positive impact on environmental, health, and/or diversity outcomes, with a significant portion focusing on positive environmental outcomes related to the atmosphere, soil health, biodiversity, and water.
One such portfolio company, Hyfé, is a biotechnology firm that repurposes food processing wastewater into alternative feedstocks for biomanufacturing. Michelle Ruiz of Hyfé praised Supply Change Capital, saying, “Noramay and Shayna bring valuable investing, operator, and industry expertise to the cap table… they are one of our strongest investment partners.”
About Supply Change Capital
Supply Change Capital is a venture capital firm focused on reshaping the future of food. Through strategic investments in early-stage technology companies, the firm is responding to the seismic shifts in the $10 trillion global food industry. With a distinctive focus on culture and climate, Supply Change Capital is demonstrating the importance of inclusivity and sustainability in shaping the future of our food systems. To learn more, visit www.supplychange.fund.