Global RIFF (Revolution in Food Fund) is a new breed of FoodTech venture capital fund that's looking to transform an increasingly unsustainable and unhealthy food system. Global RIFF has brought together leading food executives supported by an investment analytics platform to help discover, select, invest and develop food startups and founders with most-likely-to-succeed business models in both sustainability and scalability.
"Between dwindling natural resources, undernourished populations, food waste, food allergies, obesity epidemics and food safety issues, today's food landscape is structurally unsustainable and unacceptable," explains Manuel Gonzalez, Global RIFF's founding partner. "At Global RIFF, our mission is to unlock the future of food by investing in companies where social good meets scale. Our bet is that the sustainability and wellness sectors will outpace the conventional market, and that we can greatly improve our chances of success with an investment platform that combines artificial and human intelligence."
Global RIFF will deploy a proprietary technology combined with human intelligence to evaluate more than 1,500 early-stage food start-ups. companies selected by the technology-generated short list will be evaluated by Global RIFF's panel of seasoned executives and entrepreneurs. The innovative technology-plus-human process allows the company to discover, select and invest in companies with the most potential to develop into full-fledged brands.
"We are looking to have an impact on the ways in which we as an industry develop food, as well as the myriad of ways people relate to and think about food," says Jill Portman, co-founder of Mighty Leaf Tea, and Global RIFF advisor and investor. "We decided to be part of Global RIFF as advisors and early investors because we are interested in unlocking the future of food and becoming part of the fabric of connectivity where great founders are discovered, invested in and developed, improving human lives while protecting the planet."
The startup companies will focus on solutions for the most pressing issues in the food industry, including diversifying and increasing plant-based protein consumption, supporting growth in the healthy snack and beverage category, and shortening the food supply chain distance while reducing carbon footprints.
Global RIFF expects to be fully funded by Summer 2019 and ready to put the investment and incubation ecosystem to work. .