General Mills launches capital fund via CircleUp to seed emerging food brands

General Mills’ new business development and venturing unit 301 INC has rolled out a new multi-million dollar capital fund via CircleUp online marketplace to fund emerging food brands.

The partnership with CircleUp will bolster General Mills’ investment strategy, as well as developing emerging brands through its 301 INC unit.

An online platform, CircleUp, links CPG and retail brands to accredited investors.

CircleUp, through its technology and team of private equity professionals, identifies emerging brands in the early phase of their lifecycles, and posts their profiles on its site, from which investors can find, research, and make an investment.

From 2012 until now, CircleUp has helped over 120 companies raise over $135m.

General Mills has become the first Fortune 500 company to launch an investment fund through this online marketplace.

301 INC vice-president and general manager John Haugen said: "We are very pleased to join CircleUp as an active, hands-on investor.

"As we look to partner with and foster emerging food brands, the CircleUp marketplace will enable us to quickly connect with mission-driven brands actively seeking early-stage funding."

301 INC, through this fund, intends to have a strategic channel for sourcing the most promising emerging consumer food brand.

Besides providing capital, 301 INC intends to give its portfolio firms access to General Mills’ capabilities and expertise across supply chains, R&D, and marketing to speed up development of their businesses.

CircleUp CEO and co-founder Ryan Caldbeck said: "General Mills has been a valued partner since CircleUp’s inception, and we’re excited to deepen our relationship through this investment fun, which marks the first time a major consumer packaged goods company has used an online marketplace to find consumer brands.

"From the beginning, we’ve been committed to helping our brands access capital and resources to help them scale, and now they will benefit from more access to General Mills."