SAN FRANCISCO — PowerPlant Partners has adopted a new name as it plans to broaden its scope of investments beyond plant-based consumer food and beverage brands. Now GroundForce Capital, the firm seeks to back food-related companies addressing issues tied to human and planetary health.
With offices in the San Francisco Bay Area and Los Angeles, GroundForce Capital 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. Portfolio companies have included Bobbie, Thistle, Beyond Meat, Thrive Market, Apeel Sciences, Liquid Death, Miyoko’s Creamery, Vive Organic and Partake Brewing.
“We always have and always will strive to bring life to the center of business and invest in companies building a healthier and more sustainable future for all,” said co-founder and co-managing partner Mark Rampolla. “We helped catalyze the plant-based movement. Now we believe we can bring our experience, expertise, and network to drive change more broadly.”
The firm closed a $330 million fund last year. GroundForce Growth I will invest between $15 million and $50 million in emerging and growth-stage companies with gross revenues of $20 million to more than $100 million. Its expanded focus includes sectors such as agriculture technology, decarbonization, supply chain, agriculture and low-emission manufacturing and production.
“With years of experience, a world-class team, and a remarkable collective of founders, CEOs, executives, advisers, and investors, we have gained invaluable insights,” said Dan Gluck, co-founder and co-managing partner. “I am thrilled to now share this expertise with a wider array of companies, highlighted by ourrecent investment in Bobbie: a rapidly expanding brand at the forefront of revolutionizing infant nutrition.”Enjoying this content? Learn about more disruptive startups on the Food Entrepreneur page.
