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The Plant Based Foods Association [PBFA] has announced that 10 investment firms have signed on as founding members in a move it says will ‘ensure the success of the plant-based foods sector’.
The association, which represents more than 90 of the nation’s leading plant-based food companies, aims to ‘advocate for a level playing field, and work to expand markets for this fast-growing sector of the food industry’.
The board members include Tofurky CEO Jaime Athos as President and Follow Your Heart COO Martin Kruger as Treasurer.
Investment firms
Among the investment firms who signed on are New Crop Capital, VegInvest, and Lyra Growth Partners.
Founding investor member Lyra Growth Partners is led by Charles Chang, the founder of the successful plant-based food company Vega, which was sold to WhiteWave Foods in 2015 for $550 million.
‘Excited’
Michele Simon, PBFA’s Executive Director, said: “It’s wonderful to see so many mission-aligned investment firms supporting our members and our work.
“I am excited to partner with investors to ensure the success of the plant-based foods sector.
“This new membership opportunity offers investors access to industry data, introductions to early-stage companies, in addition to tapping into a wealth of knowledge from our member companies, affiliates, and advisors.
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