Supply Change Capital Closes Debut $40 Million Fund To Invest In The Future Of Food

Listen to this article
Supply Change Capital - Food, Culture, Tech

Supply Change Capital, a venture capital firm that invests in the future of food, has announced the successful closure of its inaugural $40 million fund. The firm, one of the largest Latina-led funds, has already deployed over $13 million across 15 early-stage food and agriculture technology companies since June 2021. The portfolio includes deep tech food, agriculture and ingredient companies, supply chain technology, and enterprise software. Impressively, 80% of the portfolio comprises Latinx, Black, and/or Female Founder/CEOs.

Notable Investors and Firm Leadership

The fund attracted notable investors including 301 INC, 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 firm is led by industry veterans Noramay Cadena and Shayna Harris, who met at MIT Sloan in 2009. With four degrees from MIT and a Fulbright Scholarship between them, the partners have made more than 100 investments to date.

Investment Strategy and Market Evaluation

Supply Change Capital invests in technologies that underpin a more resilient food system. The firm invests through the lens of climate and culture, given the current existential crisis that our planet and society face. The food industry is responsible for a third of climate emissions, and multicultural citizens account for nearly all of the US population growth. However, according to Pitchbook, 98% of venture capital dollars go to male founders while Diversity VC estimates that 70% of venture-backed founders are white, leaving the remaining population nearly untapped for early-stage funding.

Portfolio Impact and Future Plans

The Supply Change portfolio illustrates the pivotal opportunity to invest with a sustainability, health, and diversity lens in the food and agriculture industry. 100% of the portfolio companies have positive impacts on environmental, health, and/or diversity outcomes. 73% are focused on positive environmental outcomes related to the atmosphere, soil health, biodiversity, and/or water. 60% of the portfolio offers products and services to improve health.

As the firm continues to invest from its debut fund, it is also laying the groundwork for future funds and investments. This successful closure of the debut fund marks a significant milestone for Supply Change Capital as it continues to invest in the future of food, setting the stage for a new era in the venture capital industry.

Please email us your feedback and news tips at hello(at)

  • Reading time:4 mins read
  • Post category:News