Siddhi Capital, which invests in food and beverage technologies, raised its second fund as an operations-focused VC.
Siddhi Capital, which invests in the food and beverage sectors, has raised its second fund as an operations-focused VC. With its new $135 million fund, the VC plans to continue focusing on startups developing food and fast delivery technologies.
The VC’s portfolio includes mineral water maker Aura Bora, food delivery startup Thistle, chocolate snacks maker Mid-Day Squares and cereal maker Magic Spoon. The VC’s first fund was $70 million, and its second fund is almost double that amount.
With its new fund, VC plans to invest $5 to $10 million in companies with revenues between $25 million and $100 million. Siddhi Capital, which invested in 40 early-stage startups with its first fund, aims to focus on a smaller number of growth-stage startups this time.
While startups developing consumer packaged goods will receive a larger share of the fund, food tech startups developing technologies such as fermentation and cellular agriculture will also be the focus of investment.
“We were very fortunate that our existing group of investors believed in what we were doing and were happy with the direction of Fund I,” says Melisa Facchina, Founder and Managing Partner.
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