MINNEAPOLIS, Nov. 4, 2015 /PRNewswire/ -- 301 INC, the new
business development and venturing unit at General Mills, today
launched a new multi-million dollar capital fund through the
CircleUp marketplace to seed emerging consumer food brands.
CircleUp connects consumer and retail brand entrepreneurs to
accredited investors through its online platform. By using powerful
technology and a team of experienced private equity professionals,
CircleUp identifies promising brands early in their lifecycles and
posts profiles on their site for investors to discover, research
and potentially make an investment. General Mills is the first
Fortune 500 company to launch an investment fund through this
platform.
"We are very pleased to join CircleUp as an active, hands-on
investor," said John Haugen, vice
president and general manager of 301 INC. "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."
Through the new fund, 301 INC will have a strategic funnel for
sourcing the most attractive emerging consumer food brands. In
addition to capital, 301 INC will also give its portfolio companies
access to General Mills' extensive capabilities and expertise
across supply chain, research and development, finance and
marketing to accelerate their businesses.
Since 2012, CircleUp has helped more than 120 companies raise
more than $135 million. Beyond
capital, CircleUp helps brands accelerate growth by tapping into
its robust retailer and distributor partnerships. Companies that
have raised money on the CircleUp platform average 86 percent
year-over-year revenue increase following their raise.
"General Mills has been a valued partner since CircleUp's
inception, and we're excited to deepen our relationship through
this investment fund—which marks the first time a major consumer
packaged goods company has used an online marketplace to find
consumer brands," said Ryan
Caldbeck, CircleUp's CEO and co-founder. "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."
About General Mills
General Mills is one of the
world's leading food companies, operating in more than 100
countries around the world. Its brands include Cheerios, Fiber One,
Häagen-Dazs, Nature Valley, Yoplait, Betty
Crocker, Pillsbury, Green Giant, Old El Paso, Wanchai Ferry, Yoki and more. Headquartered
in Minneapolis, Minn., USA, General Mills had fiscal 2015
worldwide sales of US $18.7 billion, including the company's
US $1.1 billion proportionate share of joint-venture net
sales.
About CircleUp
CircleUp (www.circleup.com) is an
online marketplace that matches accredited investors with consumer
products and retail companies. Accredited investors find free
access to select private investments, easy tools to identify and
diligence companies and online transaction capability to make
investments. CircleUp offers an efficient way to access a network
of sophisticated investors as well as value added partners. For
more information, visit CircleUp.com.
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SOURCE General Mills