SAN FRANCISCO — PowerPlant Partners, an investor in plant-based food and beverage brands, has closed its third fund at $330 million.

PowerPlant Ventures III LP (PPV Fund III) will continue backing consumer-facing brands with a focus on growth-stage businesses. The fund will invest between $15 million and $40 million in target companies. PPV Fund III already has invested in Miyoko’s Creamery, Liquid Death, Partake Brewing and SYSTM Foods, the combination of Chameleon Cold-brew and REBBL.

“We are thrilled to receive such strong support and commitment from our limited partners, especially during a period of increased market volatility,” said Dan Gluck, co-managing partner of PowerPlant Partners. “This new fund will allow us to deepen and grow our efforts to find, fund and scale breakthrough companies that are building a healthier, more sustainable future.”

With offices in the San Francisco Bay Area and Los Angeles, PowerPlant Partners is led by the founders and operators of businesses including Zico Beverages, acquired by the Coca-Cola Co. in 2013, and Health Warrior, acquired by PepsiCo, Inc. in 2018. Its portfolio companies include Beyond Meat, Thrive Market, Thistle, Vive Organic and OWYN. The firm also acquired Zico from Coca-Cola months after the Atlanta-based beverage maker revealed plans to discontinue the coconut water brand.

In addition to closing its third fund, PowerPlant is expanding its strategic vision beyond food and beverage to support consumer technology, service and enablement companies advancing human and environmental health.

“With this additional capital, we’re expanding our team and building an even stronger bench of industry-leading operating advisers and partners,” said Mark Rampolla, co-founder and co-managing partner. “This will enable us to continue to bring an unparalleled level of insight and support to companies and apply our experience to a wider range of businesses that put human and planetary life at the center of business.”