Supply Change Capital, a pioneering venture capital firm in the food industry, announces the successful close of its $40M Fund I.
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Supply Change Capital Closes $40M Fund

Supply Change Capital, a venture capital firm with a focus on investing in the future of food, has recently announced the successful closure of its inaugural $40M Fund I. Led by industry veterans Noramay Cadena and Shayna Harris, the firm has quickly gained recognition as one of the largest Latina-led funds in the venture capital landscape. Since June 2021, Supply Change Capital has made significant strides, deploying over $13 million across 15 early-stage food and agriculture technology companies.

The portfolio curated by Supply Change Capital reflects its commitment to diversity and inclusion. Notably, 80% of the companies in their portfolio are led by Latinx, Black, or Female Founder/CEOs. This emphasis on empowering underrepresented groups is crucial in an industry where diversity and innovation often go hand in hand.

As a venture capital firm investing in the future of food, Supply Change Capital has a strong understanding of the cultural, demographic, and sustainability shifts necessary for driving groundbreaking innovations in the food and agriculture sectors. Their unique perspective allows them to identify overlooked and underinvested trends that can positively impact the $10 trillion global food industry.

The firm’s Limited Partners include notable organizations such as 301 INC (the venture capital arm of General Mills), MassMutual through its First Fund Initiative, the Office of the Illinois Treasurer through the Illinois Growth and Innovation Fund, Bank of America, Illumen Capital’s Catalyst Fund, and J.P. Morgan Asset Management. The involvement of such prestigious partners further validates Supply Change Capital’s mission and expertise.

Supply Change Capital is at the forefront of breaking down barriers in the world of venture capital. With female and Latina ownership, the firm stands out in an industry where gender and racial diversity among decision-makers remain limited. According to industry reports, only 16.1% of venture capital decision-makers are female, and a mere 2% are Latina/Latino.

Noramay Cadena and Shayna Harris, the leaders of Supply Change Capital, have extensive backgrounds that complement each other and contribute to the firm’s success. Cadena, a mechanical engineer with experience in bringing complex space programs to market, made a transition to venture capital in 2015. Harris, on the other hand, brings a wealth of expertise in the food industry, having held executive leadership roles in fast-growth food and software startups, and leading sourcing and impact at Mars.

The investment strategy of Supply Change Capital revolves around a dual lens of climate and culture, acknowledging the urgent need for a more sustainable and inclusive food system. The food industry is responsible for a significant portion of climate emissions, and addressing this impact is paramount for the future of our planet. Simultaneously, the firm recognizes the importance of investing in multicultural populations, which are rapidly growing and driving societal changes.

The Supply Change portfolio emphasizes companies that have a positive impact on environmental, health, and diversity outcomes. The majority of the portfolio companies focus on improving the environment, addressing issues related to the atmosphere, soil health, biodiversity, and water. Additionally, 60% of the companies offer products and services that promote better health. One of the portfolio companies, Hyfé, a biotechnology firm repurposing food processing wastewater for biomanufacturing, has lauded Supply Change Capital’s support as an early investor. The firm’s ability to provide valuable expertise and guidance has made them a strong investment partner for Hyfé and other companies.

Supply Change Capital’s commitment to sustainability, health, and diversity sets a precedent for responsible and impactful investing in the food and agriculture industry. As they continue to make a positive difference in the sector, their influence is poised to shape a more inclusive and sustainable future for food. With a focus on cultivating innovation and empowering underrepresented founders, Supply Change Capital represents the vanguard of change in the venture capital world.

Image provided by Supply Chain Capital

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