BENTONVILLE, ARK. — Ignite20 Ventures is a new $7 million venture fund and accelerator program launching for consumer packaged goods (CPG) brands in the food, beverage, health, beauty and pet care industries.

The fund, which is backed by early-stage venture funds Santatera Capital and Redwood Ventures along with food distributor RPM Food, said it will select and invest in 20 CPG startups annually.

"Ignite20 Ventures' mission is to provide emerging CPG brands with the resources they need to break through to the next level in an increasingly competitive and complex industry," said Gabriela Morales, chief executive officer and co-founder of Ignite20 Ventures. "As a CPG founder myself, I understand firsthand the challenges these entrepreneurs face and the impact the right strategic investment and guidance can have on their success.”

Startups participating in the program will receive a $50,000 investment, guidance from industry personnel and a network of mentors, investors and retail buyers.

The program, which will operate from two hubs in Bentonville, Ark., and Miami, also offers a 12-week hybrid program and finishes with a demonstration day in Bentonville.

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