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Green Circle Foodtech Ventures Announces the Launch of Fund I, Dedicated to Sustainable, Disruptive Technologies in the Foodtech Ecosystem, with Participation from Hormel Foods

Green Circle Capital Partners is pleased to announce the launch of their venture capital division, having conducted a first closing for Green Circle Foodtech Ventures I (GCFV) with the anchor investment coming from 199 Ventures, the venturing company of Hormel Foods (NYSE: HRL).

“Having a leading global branded food company in our corner, providing support and resources for portfolio companies, is incredibly exciting and opportune for us and for the companies in which we will invest,” said Stu Strumwasser, founder of Green Circle and Co-Managing Partner of GCFV. “The experience in food production, distribution, and marketing, and the global resources Hormel Foods can provide to support our portfolio companies could be the difference between a cool idea and a dominant technology or tech-enabled CPG brand of the future. The Hormel Foods team is a caring group of forward-looking professionals and we are thrilled to have the opportunity to work with them to effect meaningful change in the food supply system.”

Bryan Kreske, leader of the new 199 Venturing department at Hormel Foods, said, “We are excited to be investing in the fund and all that it will do to help jump start this growing category. Since committing to invest in the Fund, we are looking forward to the many areas of investment including alternative protein and plant-based foods.”

Since 2013, Green Circle Capital Advisors, the investment banking advisory division of Green Circle Capital Partners, has been supporting natural products companies (food, beverages & supplements). “The manner in which industry makes and distributes food has not kept pace with technology advances and, as a consequence, without significant investment and change the industry will be unable to keep up with the needs of a growing, global population while operating sustainably,” said Strumwasser. “We are seeking out technologies that can help bridge the gap between sustainable food supply and population growth—while offering what we believe is tremendous financial opportunity to our collective stakeholders.”. Mr. Strumwasser has been an investment professional for over thirty years and a vegetarian for over forty.

Green Circle’s first foray into principal investing was to co-lead in 2019 the Seed round of The Better Meat Co., a leader in the production of mycelium-based protein. That experience laid the groundwork for the Fund. “GCFV will focus on certain segments of the Foodtech ecosystem including but not limited to alternative protein, fermentation, food safety, shelf-life extension, food production automation, bioplastics and sustainable packaging, and plant-based ingredients,” said Graham Anderson, Co-Managing Partner of the new venture capital division of Green Circle. GCFV will remain fully independent in terms of decision-making authority and investment methodology.

With a target of $25 million in committed capital, GCFV is currently considering Seed stage and Series A investments. The fund invests in companies providing disruptive technologies to the Foodtech ecosystem and anticipates providing capital to approximately a dozen sustainable, technology-enabled Foodtech enterprises for whom GCFV will provide expert advice and assistance in growing their businesses.

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About Hormel Foods – Inspired People. Inspired Food.

Hormel Foods Corporation, based in Austin, Minn., is a global branded food company with over $11 billion in annual revenues across 75 countries worldwide. Its brands include Planters®, SKIPPY®, SPAM®, Hormel® Natural Choice®, Applegate®, Justin’s®, Columbus®, Wholly®, Hormel® Black Label® and more than 30 other beloved brands. The company is a member of the S&P 500 Index and the S&P 500 Dividend Aristocrats, was named on the “Global 2000 World’s Best Employers” list by Forbes magazine for three years, is one of Fortune magazine’s most admired companies, has appeared on Corporate Responsibility Magazine’s “The 100 Best Corporate Citizens” list for the 12 years, and has received numerous other awards and accolades for its corporate responsibility and community service efforts. The company lives by its purpose statement — Inspired People. Inspired Food.™ — to bring some of the world’s most trusted and iconic brands to tables across the globe. For more information, visit and