#United States #digital health #Minnesota #Food Technology #Bread & Butter Ventures

Bread & Butter Ventures Launches $40 Million Fund IV

Bread & Butter Ventures, a pioneering early-stage venture capital firm established in Minnesota, has successfully closed its fourth fund with an impressive capital of $40 million. This fund aims to transform investment strategies and accelerate growth in innovative seed-stage companies focused on the fields of food technology, digital health, and enterprise Software as a Service (SaaS).

According to Managing Partner Mary Grove, the firm's strategic positioning in Minnesota – often dubbed the 'bread and butter state' – provides a unique advantage. This region is not only at the center of the global food system but is also home to a high density of leading healthcare organizations and Fortune 500 companies. Grove emphasized how this local expertise can be instrumental in helping startups scale efficiently and effectively.

With this new fund, Bread & Butter Ventures continues to follow a successful investment trajectory that began in 2017. To date, the firm has funded 66 companies through its previous three funds, cultivating a diverse portfolio that highlights the potential for groundbreaking advancements in relevant sectors.

Brett Brohl, another Managing Partner at the firm, articulated the venture’s founder-first philosophy, reflecting a deep understanding of both successes and challenges in the startup landscape. Brohl's experience includes being on the front lines of launching and managing three companies, while Grove brings a rich background from 14 years with Google, paired with Stephanie's experience in startup operations and journalism. Together, this diverse expertise not only enriches the firm's insight but also reinforces their commitment to supporting portfolio companies with hands-on guidance.

The funding sources for Fund IV include various leading institutional investors, such as Allina Health System, Bernick's, Fifth Third Bank, F.R. Bigelow Foundation, MSP Equity Fund, and the Shakopee Mdewakanton Sioux Community, underlining the growing interest in collaboration within the investment community.

A key part of the venture's strategy is manifested through the Bread & Butter Innovation Circle, comprising Minnesota-based firms focused on innovation. This private consortium fosters collaboration and strengthens connections between established industry leaders and nascent startups. Participants in this circle include notable names like 3M, Cargill, General Mills, and Mayo Clinic, collectively contributing to a thriving ecosystem for innovation.

Over the last three funds, Bread & Butter Ventures has invested in groundbreaking companies such as Hungry, Delfina, and Clean Crop Technologies. Their proactive approach to deploying capital is already evident in Fund IV, with recent investments in companies like Tradeverifyd, SocialCrowd, Chiyo, and VoicecareAI, strategically selected for their contributions to food technology, digital health, and enterprise SaaS.

In summary, Bread & Butter Ventures is not merely reflecting on past successes but is also shaping the future of vital industries through decisive investment strategies. With Fund IV, the firm is poised to play an essential role in promoting transformative innovations that can change not just businesses but society as a whole.