Food, drink-focused venture capital house BFG hits oversubscribed Fund II final close

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Food and beverage-focused venture capital firm Boulder Food Group has closed its second fund on more than $100m.

The firm, which aims to partner with innovative and socially conscious food, beverage, and supplement brands, was oversubscribed with no placement agent used.

To Spier, who founded BFG in 2014, said, “Fund II will give us the opportunity to invest deeper in a set of brands while staying focused on innovative early-stage food and beverage companies.

“We’re exploring investments in a variety of categories with compelling value propositions for today’s changing consumer landscape.”

BFG claims to have an ‘outstanding track record’ from its $50m-plus debut fund, including selling Chameleon Cold Brew to Nestle in 2017 after just a two-year hold.

The initial investment from BFG Fund II is going to OLIPOP, a clinically-backed digestive health drink that benefits the microbiome, digestive function, and metabolic health in cans of flavored tonic.

BFG principal Dayton Miller said, “We feel that OLIPOP is well-positioned at the intersection of great taste and true functionality, with nothing like it on the market.”

OLIPOP joins a portfolio that includes Barnana, CAULIPOWER, 4th and Heart and Birch Benders, among others.

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