Supply Change Capital VC Closes $40M Fund for Food and Agriculture Industry

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• Supply Change Capital has closed its first $40M Fund, making it one of the largest Latina-led funds.
• The VC firm targets deep-tech food, agriculture, and ingredient companies, as well as supply chain technology and enterprise software. 
• The firm is led by Noramay Cadena and Shayna Harris, who bring years of experience in tech and investment in the food and agriculture industry.

Venture Capital firm, Supply Change Capital, has announced the close of its inaugural $40M Fund. Supply Change Capital is one of the largest Latina-led funds, and the VC firm has supplied over $13 million across 15 early-stage food and agricultural technology companies since June 2021. 

Supply Change Capital investments focus on early-stage technology companies making innovations in the global food industry. Led by two GPs, Noramay Cadena, and Shayna Harris, the firm makes investments in deep-tech food, agriculture and ingredient companies, supply chain technology, and enterprise software. The firm is headquartered in Los Angeles and Chicago, US.

The Supply Change portfolio is an indication of its commitment to sustainability, inclusion, and diversity in the food and agriculture industry. About 80% of companies in their portfolio are led by Latinx, Black, or Female Founder/CEOs. In addition, 100% of Supply Change portfolio companies have positive impacts on environmental, health, and/or diversity outcomes. 73% focus on positive environmental outcomes related to the atmosphere, soil health, biodiversity and/or water, while 60% offer products and services to improve health.

(Read also: BASF UK Launches Innovation Collaboration Day)

Supply Change Capital’s limited partners include 301 INC (the venture capital arm of General Mills), MassMutual, through its First Fund Initiative, the Office of the Illinois Treasurer through the Illinois Growth and Innovation Fund, Bank of America, Illumen Capital’s Catalyst Fund, and J.P. Morgan Asset Management.

The VC firm’s founders, Cadena and Harris, are creating the needed shift in the cultural, demographic, and sustainability in the food and agriculture industry. Cadena and Harris bring years of expertise in tech and investment into the food industry. Cadena is an aerospace engineer-cum-investor, with 8 years of experience in investing. Harris has built a successful career spanning two decades as a pioneering operator and visionary builder. The duo met in business school in 2009 and have between them, 4 degrees from MIT and over 100 investments, including 15 in the Supply Change portfolio. 

Cover image from prnewswire