6 DC-based Food Companies Receive Investment from Union Kitchen Fund
Washington DC - Union Kitchen Fund, a venture capital fund based in the Washington, D.C. area focused on emerging food and beverage CPG companies, announced that they have made significant investments in six DC-based food companies. All of these companies are part of the Union Kitchen Accelerator, the leading food business Accelerator, and have shown exceptional growth potential and strong leadership.
The six companies that have received investments are Caribe Juice, Mas Panadas, Vegetable + Butcher, Pop's Bakery, Snacklins, and Stone's Throw Food. Each of these companies have made significant contributions to the food industry in the region, have received multi-million dollar valuations, and opened production facilities in the Mid-Atlantic.
Caribe Juice, founded by CEO Luis Solis, produces and distributes premium, all-natural fruit juices and functional waters inspired by Caribbean flavors. After finding strong initial success in the fast-growing Latino market, Caribe Juice acquired Wtrmln Wtr in 2020 expanding their portfolio to the hydration category.
Maspanadas is a specialty food company that focuses on producing and distributing Latin American-inspired foods, with a particular emphasis on empanadas. Under the leadership of CEO Margarita Womack, an experienced entrepreneur with a PhD from Princeton University in Biology and an MBA from Georgetown, Maspanadas has experienced rapid growth.
Vegetable + Butcher (V+B) is a fast-growing meal delivery service specializing in nutritious prepared meals. V+B recently closed an oversubscribed million dollar investment round. They are led by Turner Hoff, who has his MBA from Rice University and previous experience in finance as well as Ariane Valle who received her bachelors from Penn State University and has a background in food, customer experience, and marketing.Snacklins, a top snack brand in the natural channel, has secured investment from none other than Mark Cuban. In fact, founder Samy K made a major deal with the Shark Tank investor in 2019, cementing Snacklins' position as a promising player in the food industry.
Pop's Bakery, founded by Grant Sarvis, is a growing bakery that specializes in bagels and new aged potato bread. Pop's services more than 40 restaurants and over 150 retailers including Union Kitchen, Compass Coffee, Lucky Buns, and Whole Foods Market. Pop's Bakery is valued at $2.5mm.
Stone's Throw Food joined Union Kitchen Accelerator in 2020 and has been working closely with the team throughout this time. Stone’s Throw Foods has seen tremendous growth in the last year, working with new distribution partners like KeHe and participating in UNFI Next’s program that identifies up and coming CPG brands.
Union Kitchen has a long-standing commitment to supporting local food entrepreneurs in the region, and this new investment fund is part of that mission. The fund aims to provide capital to food companies that are poised for growth and have strong potential for success.
"We are thrilled to be able to support these six companies through our new investment fund," said Cullen Gilchrist, Founder of Union Kitchen. "Each of these companies has demonstrated significant potential, and we are excited to see them continue to grow and thrive in the coming years. This is just the beginning, and we look forward to investing in more promising food businesses in the future."