Supply Change Capital, a Los Angeles, CA- and Chicago, IL-based venture capital firm that invests in the future of food, closed its inaugural $40M fund.
Limited Partners included 301 INC, MassMutual through its First Fund Initiative, the Office of the Illinois Treasurer through the Illinois Growth and Innovation Fund, Bank of America, Illumen Capital’s Catalyst Fund, and J.P. Morgan Asset Management.
Led by Noramay Cadena and Shayna Harris, Supply Change Capital invests in early-stage food and agriculture technology companies.
The firm has deployed over $13M across 15 since June 2021. Investments include deep tech food, agriculture and ingredient companies, supply chain technology, and enterprise software. Latinx, Black, and/or Female Founder/CEOs comprise 80% of the portfolio.
Noramay Cadena and Shayna Harris are two industry veterans who met in business school at MIT Sloan in 2009. With four degrees from MIT and a Fulbright Scholarship between them, the partners have made more than 100 investments to date. Cadena is a mechanical engineer who spent over a decade bringing complex space programs to market at Boeing and then pivoted to venture capital in 2015, investing across sectors and stages. Harris is a sought-after food industry expert, with C-Suite executive leadership and strategy experience in fast-growth food and software startups, and a tenure as a global lead for sourcing and impact at Mars.
FinSMEs
24/07/2023