Lauren Abda is founder and CEO of Branchfood, the largest community of food entrepreneurs and startups in New England, and co-founder at Branch Venture Group, a Boston-based angel network for investment in early-stage food startups.
Adba, along with other investors, will speak on the panel Scaling Your Business with Strategic Angel Investment, today at 1 p.m. EST.
She spoke with SFA News Daily about Branch Venture Group and her advice for companies looking to secure investors.
What is Branch Venture Group and how was it founded?
Branch Venture Group was established in 2017 to complement the work that Branchfood does in supporting food startups. In addition to supporting entrepreneurs with workspace, connections, and mentorship, we recognized the need for more early stage capital to support food business growth and partnered with seasoned investors to create an organized, straightforward way for emerging entrepreneurs to access funding to fulfill their business development goals.
We invest in food and beverage CPG, foodtech, and agtech companies and our network is comprised of individual angel investors interested in achieving superior returns by financing privately held companies at an early stage of development.
Our primary focus is investing in entrepreneurs raising under $3 million with the capacity to syndicate larger opportunities through other networks and venture firms. To date, BVG has reviewed over 540 startups for investment, participated in 23 financing rounds, and has 14 portfolio companies.
What are some barriers to entry that Branch Venture Group can help companies overcome?
In the food industry, entrepreneurs attribute access to early-stage capital and expert mentorship as major contributors to success. However, angel investors can be hard to find, the investment process can be intimidating, and it's not always clear where to find trusted advisors that know your space. At Branch Venture Group, we developed a structured process that enables entrepreneurs to access the right angel investors who can support the development of their startups.
Do you have any advice for companies seeking angel investment funds?
Raising money from accredited investors is a process and it can take longer than expected, but understanding the process, materials, and having clarity around objectives can help companies successfully raise the funds needed at an early stage.
Working with angel groups like BVG as opposed to individual angel investors can help introduce your startup to many investors at once. The Angel Capital Association is a great community to connect with in search of groups in your region that could be open to hearing startup pitches.
Additionally, preparing materials including a one-pager on the investment opportunity, a pitch deck including the customer problem, solution, market opportunity, competitive landscape, go-to-market strategy, value proposition, business model, key milestones achieved, financial projections and strong understanding of unit economics, and funding request is critical to presenting a compelling opportunity.
How important is community and connection in the food industry?
As the African proverb goes, "If you want to go fast, go alone, but if you want to go far, go together." Based on my years of working with food founders, this sentiment referencing the importance of community and connection and their contributions to startup success couldn't be more true.
At Branchfood and Branch Venture Group, our mission is to forge a globally connected community of innovators that will create the future of food. We know that the evolution of our food industry will be defined by individuals and companies that successfully translate consumer needs and values of health and sustainability into business practices. As we work towards creating a more sustainable global food industry, leveraging the skills and expertise of one another will help us all to get there, faster and together.
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