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New Fare Partners is a female-led venture capital firm that specializes in early-stage investments within the food and beverage sector. Founded in 2018 by Elly Truesdell and Hallie Bonnar, the firm is based in the United States. Truesdell previously served as the Global Director of Local Brands and Product Innovation at Whole Foods Market, while Bonnar was the Head of Marketing at Made by Nacho. Their combined experience in the food industry informs the firm’s investment strategy.
In November 2022, New Fare Partners closed its first fund, Fund I, with a total size of $20 million. The fund aims to make 16-20 investments, focusing on consumer brands, supply chain technologies, and modern retail marketplaces. The firm has garnered support from notable limited partners, including Walter Robb, former co-CEO of Whole Foods, and celebrity chef Bobby Flay, enhancing its credibility in the food sector.
New Fare Partners invests primarily in early-stage food and beverage companies, targeting sectors such as food-agtech, consumer products, and commerce. The firm’s investment strategy emphasizes identifying innovative brands that are reshaping the food landscape by addressing evolving consumer trends and preferences. Their focus spans various stages, including pre-seed, seed, seed+, and Series A funding.
The firm typically invests in companies that demonstrate a strong potential for growth and align with consumer demands for healthier and more sustainable food options. New Fare Partners seeks to build a diverse portfolio that reflects the changing dynamics of the food industry, ensuring that their investments resonate with contemporary consumer values.
New Fare Partners has made notable investments in three companies:
These companies exemplify New Fare Partners' commitment to investing in brands that align with consumer preferences for health, sustainability, and innovation in the food space.
Elly Truesdell: General Partner and Co-Founder. Truesdell has a background as the former Global Director of Local Brands and Product Innovation at Whole Foods Market. She has also worked at Canopy Foods and was a partner at Almanac Insights.
Hallie Bonnar: Co-Founder. Bonnar previously served as the Head of Marketing at Made by Nacho and has collaborated with Truesdell for over five years in various capacities.
To pitch New Fare Partners, founders should visit their website at newfarepartners.com. A well-structured pitch deck should include information on the business model, market analysis, and team background. The firm prefers warm introductions but will consider direct applications through their website.
In November 2022, New Fare Partners closed its first fund, Fund I, with a total size of $20 million. At that time, the firm had already made 8 investments out of a planned 16-20. The firm is recognized as part of a growing trend of female-led venture capital firms in the food and beverage space.
What are New Fare Partners' investment criteria?
New Fare Partners focuses on early-stage food and beverage companies that demonstrate innovative approaches to consumer trends. They look for brands that address health, sustainability, and changing consumer preferences.
How can I apply or pitch to New Fare Partners?
Founders interested in pitching to New Fare Partners can visit their website at newfarepartners.com for more information on the application process.
What makes New Fare Partners different from other venture capital firms?
The firm is female-led and leverages the extensive experience of its founders in the food industry, providing a unique perspective on sourcing and diligence in food-related investments.
What is the geographic scope of New Fare Partners' investments?
New Fare Partners primarily invests in companies based in the United States, focusing on the food and beverage sector.
What is the typical check size for investments?
While specific check sizes are not disclosed, New Fare Partners targets early-stage investments, which typically range from pre-seed to Series A funding rounds.
What kind of post-investment involvement can founders expect?
New Fare Partners provides operational support and mentorship to portfolio companies, leveraging their extensive network in the food industry to assist in growth and development.
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