Over the past decade, we have seen family offices accumulate the assets and skills required to allocate capital directly into the private landscape. The result is more than half of all family offices allocating capital directly, to some degree (FINTRX). In utilizing the FINTRX family office data and research platform, which provides intel into thousands of direct deal transactions made by 3,000+ family offices worldwide, we explore three family offices directly investing in food and beverage companies.
1. The Losa Group
Founded in 1987, The Losa Group is a San José, Costa Rica-based single-family office initially established to manage the wealth of the Bosch Gutiérrez family. Besides the firm's Costa Rica office, The Losa Group also operates out of its initial headquarters based in Guatemala. The firm's patriarch, Juan Luis Bosch Gutiérrez, created his wealth through several business endeavors, most notably as Chairman of Corporatión Multi-Inversiones, a Guatemala-based business founded in 1920. The Losa Group and the Gutiérrez family are heavily active in philanthropy and contribute to charities via the Isabel Gutiérrez de Bosch Foundation, which remains committed to early childhood development.
Today, The Losa Group invests in several asset classes including public equities, fixed-income, direct investments, private equity funds, and real estate. When making direct investments, the firm targets sectors such as food and beverage, agriculture, entertainment, hospitality, livestock, ranching, energy, real estate, and finance, among others. In July 2020, The Losa Group directly invested in New Age Meats, a California-based private company growing real meat from the cells of unharmed animals. From there, the company adds plants for texture, taste, and health. In January 2021, The Losa Group directly invested in BlueNalu, a California-based food production company founded in 2017. BlueNalu's mission is to be the global leader in cell-cultured seafood, providing consumers with healthy and safe seafood products that support the sustainability and diversity of our oceans. BlueNalu produces real seafood products directly from fish cells in a way that is healthy for people, humane for animals, and sustainable for our planet.
In February 2021, The Losa Group made a direct investment in Redefine Meat, a food and beverage company applying proprietary 3D printing technology, meat digital modeling, and food formulations to produce animal-free meat with the appearance, texture, and flavor of whole muscle meat. The Losa Group takes part in direct transactions across early-stage ventures and later-stage private equity investments. While The Losa Group has historically shown a propensity to invest in Latin America, the group also has experience investing throughout the United States, Europe, and Asia. The firm regularly co-invests alongside like-minded family offices and institutional investors.
2. Dom Capital Group
Established in 2007, Dom Capital Group is a Chicago, Illinois-based single-family office managing the wealth of the DiMatteo family. The firm traces its roots back to 1918 when the family patriarch, Dominick DiMatteo, opened a deli and food store on Chicago's Northwest side. In the 1950s, his son Dominick Jr began expanding the family business, and by 1965, owned seven supermarkets across Chicago. In the late 1990s, the family sold the business after the death of Dominick Jr. Today, the firm allocates to a range of asset classes, including private equity, direct investments, venture capital, and real estate. When making direct investments, Dom Capital Group primarily targets companies operating within the food and beverage, restaurant, and food technology industries. For instance, in September 2018, the group made a direct investment in Farmer's Fridge, a privately held food and beverage company on a mission to make it simple for everyone to eat well. Farmer's Fridge is a rapidly growing network of 350+ user-friendly smart Fridges stocked with chef-curated, restaurant-quality meals and snacks.
In November 2019, Dom Capital Group directly invested in Junzi Kitchen, a New York-based company founded in 2015. Incubated at Yale Entrepreneurial Institute, Junzi Kitchen grew out of a hunger for our childhood staples: northern Chinese food made with healthy, seasonal ingredients. Then in August 2020, Dom Capital Group directly invested in SuckerPunch Gourmet, a La Grange Highlands, Illinois-based food and beverage company dedicated to bold flavor, all-natural ingredients, and a touch of spice. SuckerPunch Gourmet is the creator and proprietor of the crunchiest, most flavor-packed pickles on the market, including Bloody Mary mix and pickle juice, which are non-GMO, gluten-free, and vegan. Dom Capital Group regularly co-invests alongside other family offices and like-minded investors. Previous co-investment partners have included DNS Capital and LDR Ventures, among others.
3. CPT Capital (Coller Family Office)
CPT Capital is a London, UK-based single-family office managing the assets for Jeremy Coller, the founder of Coller Capital, one of the largest investors in the private equity secondary market globally. CPT Capital has a core focus on making investments in the alternative protein space with a mission to promote the food and materials tech revolution through the replacement of animals in the supply chain. CPT looks to invest in companies making a disruption in the food system, mainly in the areas of food and materials technology. CPT makes investments in plant-based proteins, recombinant proteins, and cell culture. For instance, in September 2020, CPT Capital directly invested in Green Monday, a multi-faceted social venture tackling the world’s most pressing crises of climate change, global food insecurity, and public health by promoting plant-based eating and environmental protection. In November 2020, CPT Capital directly invested in Innovopro, a food production company committed to bringing unique plant-based protein ingredients to the global food market to create nutritious, safe, and sustainable food products. InnovoPro has been recognized as an innovator of disruptive technology in the food industry. In December 2020, CPT Capital made a direct investment in Better Dairy, a London, England-based food production company using yeast fermentation to produce the same cheeses, yogurts, and ice creams without having to use animals. CPT Capital mainly seeks investment opportunities in pre-Seed to Series B rounds of funding. They target long-term investment opportunities with the goal of continually backing each portfolio company. CPT will invest globally but has a propensity to focus on opportunities in the United States. The firm is actively looking for new opportunities to expand its geographic representation.
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