Breadcrumbs Volume 7.

An IPO, a raise, and an innovation that has people talking.

It’s been a minute since I’ve done a true VC news round-up, so today we’re breaking down the three hottest topics in Venture Capital.

Every week there is tons and tons of VC news across all sectors, but on my page, I like to keep it to mainly consumer venture capital, because it’s what I know! I wish I was an AI master… but maybe one day.

First, Once Upon a Farm Confidentially Files for an IPO

Once Upon a Farm is an organic baby food company founded in 2015. You probably started hearing about it in 2017, when Jennifer Garner and John Foraker, the Former CEO of Annie’s, joined as Co-Founders. I don’t have kids yet, so I personally haven’t tried Once Upon a Farm, but the brand completely disrupted the baby and toddler food industry. With their organic pouches and frozen meals, the brand immediately became a mom’s best friend.

It’s believed that Goldman Sachs and JP Morgan have been tapped as lead underwriters of the deal, with a potential valuation of $1B.

I personally find it interesting the company is choosing to go the public route vs an outright sale. Perhaps they believe they have the ability to become the Nestle or Coca Cola of all-things baby, and there is still massive room to run. I look forward to seeing how this plays out.

Sauz raises $12M Led by Cavu Ventures

I say it all the time but when it comes to making an investment, I am picky. Annoyingly picky. As I should be. It’s my real money on the line!!

But every once in a while a brand comes along that makes me say “Hang on. Tell me more.”

That’s what happened about one year ago when I met Sauz; a brand set out to revolutionize the stale and boring, yet highly consumed world of tomato sauce. Think what Sweet Loren’s did to cookie dough, Sauz is doing to pasta sauce. Better-for-you and revamping a stale/saturated category with youth. And flavor!! They’re not just serving some basic marinara, they’re serving flavors like Summer Lemon Marinara and Hot Honey Marinara.

Okay back to my meeting with the team. I was impressed. Two “young” guys from Orange County who were lifelong best friends. I put “young” in quotes because although they were young, they were impressive. I was hooked and wanted in. But sadly, the round was essentially closed and I needed more time to do research. I could have made a small check work, but I don’t believe in rushing. Again, real money on the line.

Since then I think about Sauz all. the. time. and I’m an avid consumer! So last week when they announced their $12M raise led by Cavu, I couldn’t be more excited for their success, and a little butt-hurt over my miss, ha!

If Cavu sounds familiar, Cavu is the team that led Poppi to their ~2B exit. They are are an incredible consumer fund and exactly who you want on your team at this stage. Insiders from previous rounds like Coefficient and Palm Tree Crew re-invested, too.

If you haven’t tried Sauz yet, now’s the time. I’m excited to see what they do next.

Brightland launches Squeeze Bottles

Fun fact. A few years ago I was sent the deck for about four olive oil companies… all around the same time. So naturally, I passed on all of them. I mean, how innovative could each company be?? Well ever since then I’ve been kicking myself for passing on two of these brands: Graza and Brightland.

On the one hand you have Graza, who revolutionized olive oil with their squeeze bottle. One made for ‘sizzle’ and one made for ‘drizzle,’ the brand skyrocketed to success with their high quality olive oil and convenient usage. It was only a matter of time before other olive oil’s followed suit.

And then on the other hand there was Brightland. High quality, chic olive oil that emphasized bold flavor, quality, and a beauty that made it the perfect countertop item and gift.

Well Brightland is taking note from Graza and elevating their game with a new “Everyday Line.” Cooking Olive Oil and Salad Olive Oil in convenient squeeze bottles, while still looking ‘chic.’

I’ll be curious to see if they can take share from Graza, or if it is simply an extension and added convenience to their already loyal consumer base. Only time will tell.