Fund Investments

Fair Food Fund has committed more than $2 million in financing to good food entrepreneurs since its 2012 launch. These businesses are catalyzing change that reaches farmers and eaters as we work together build more vibrant local food systems.

Pemaquid Mussel Farms

Investment:
Up to $250,000 Convertible Debt
Enterprise:
Since 2007, Pemaquid Mussel Farms has been growing high-quality, rope-grown mussels on floating rafts off the coast of Maine. Pemaquid uses sustainable and innovative aquaculture techniques to produce its mussels, which it distributes to Maine restaurants and regional wholesalers. Pemaquid is currently expanding its fleet with patent-pending submersible mussel rafts with the goal to produce a million pounds of mussels annually.
Financing Purpose & Date:
August 2017 financing is supporting Pemaquid's plans to grow its fleet up to nine submersible mussel rafts over the coming years.
Update:
In addition to growing production, jobs, and regional seafood sourcing, this investment is also providing Fair Food Fund the opportunity to be part of the world’s fastest growing part of the food system: aquaculture.

DAHlicious

Investment:
Up to $350,000 Royalty Financing
Enterprise:
Founded in 2007, DAHlicious makes lassi—Indian style drinkable yogurt—prepared with milk from Northeastern grass-based dairies. It currently operates a state of the art processing facility in Leominster, Massachusetts.
Financing Purpose & Date:
A June 2015 Fair Food Fund investment supported DAHlicious’ sales, marketing, and working capital needs to expand production in their new facility. A June 2017 follow on investment supported working capital and product development. DAHlicious also received Consulting Corps business assistance to compile historical financial statements.
Update:
With Fair Food Fund support, DAHlicious launched its new state-of-the-art processing facility, rolled out its new branding, and is launching new non-dairy products.
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Fair Food Fund Announces New Loan to DAHlicious

Fresh Food Generation

Investment:
$96,000 Convertible Note
Enterprise:
Fresh Food Generation is a farm-to-table catering service, food truck, and community café in Boston. It serves up healthy and affordable Latin American and Caribbean food sourced from local farms with a focus on reaching underserved Boston neighborhoods.
Financing Purpose & Date:
The March 2018 convertible note is supporting Fresh Food Generation's continued growth by enabling it to hire more employees and professionalize its website to include an improved online ordering platform and greater focus on its catering work.
Update:
Fresh Food Generation was the winner of our 2015 Fair Food Business Boot Camp. As its prize, it received additional consulting support focused on financial planning. In March 2017, Fair Food Fund provided Fresh Food Generation a bridge loan of $11,000, laying the foundation for the subsequent 2018 convertible note investment in collaboration with Boston Impact Initiative. Such business and financial support has helped Fresh Food Generation mature from a small start-up to a growing business. In the coming years, Fresh Food Generation is focused on expanding its catering business leading to even greater positive impact on eaters and growers in Boston and beyond.
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The Compost Plant

Investment:
$75,000 Debt Financing
Enterprise:
Rhode Island-based The Compost Plant collects food scraps and other waste products from area restaurants and institutions, turning them into compost and soil mixes available to area growers. Since its 2014 launch, it has diverted nearly 400 tons of food waste from going to the state’s landfill. Next up, The Compost Plant is launching a bagged compost product line in partnership with an area farm that specializes in compost production.
Financing Purpose & Date:
April 2017 financing is helping The Compost Plant purchase equipment and providing working capital to launch its bagged compost product line.

New York Distilling Company

Investment:
$300,000 Debt and Equity Financing
Enterprise:
The New York Distilling Company (NYDC) is one of the nation's premier craft distilleries. Based in Brooklyn, New York, NYDC sources rye from upstate New York farmers with more than half of it organically grown. The results are high quality gins and rye whiskeys that are filling a niche in distilled spirits and supporting growers in the region including a growing organic grain market.
Financing Purpose & Date:
The April 2017 equity investment is providing working capital for sales and marketing of NYDC's rye whiskey. Debt financing is increasing its whiskey inventory through the purchase of additional rye and aging barrels.

Five Acre Farms

Investment:
$350,000 Equity Financing with additional $50,000 Convertible Debt Investment
Enterprise:
Five Acre Farms markets local milk, egg, and apple products with each product fully traceable to the land and farm that produced it. Founded in 2010, Five Acre Farms' mission is to find sustainable farmers within a 275-mile radius of its Brooklyn, New York headquarters, pay them fairly, and make their products accessible to average Americans. Five Acre Farms currently distributes its goods to more than 350 retail outlets, restaurants, cafes, and hotels across New York, New Jersey, and Connecticut. Since 2014, it has paid a total of more than $1,000,000 above market price back to its network of 25 partner farms.
Financing Purpose & Date:
November 2016 financing helped Five Acre Farms launch new yogurt and kefir products and expand its staff to 14 full time employees. Follow-on February 2018 financing is helping Five Acre Farms to continue to grow and scale the business.
Update:
These investments will have a ripple effect of benefits: more jobs at Five Acre Farms, increased sales for its growing farmer network, and more healthy, locally grown food for area consumers. In 2017, Five Acre Farms purchased more than $2 million in products grown by Northeast farmers. Its Buttermilk was recently featured on Martha Stewart’s Baked.

Radicle Farm Company

Investment:
$226,000 Convertible Debt
Enterprise:
Launched in Newark, New Jersey in 2014, Radicle Farm Company grows and distributes cut salad greens and “living salads” in its New Jersey and upstate New York greenhouses.
Financing Purpose & Date:
A July 2015 investment of $200,000 supported Radicle in purchasing new equipment, building inventory, and marketing its products. Fair Food Fund also assisted Radicle in establishing an advisory board. An additional investment of $26,000 in May 2017 is helping Radicle accelerate its growth.
Update:
With Fair Food Fund financing, Radicle and its greens are growing fast. Radicle has upgraded its processing equipment, infrastructure, and purchased a distribution vehicle to support growing sales to restaurants, meal kit companies, and multi-farm CSAs across New York.
Related News & Resources
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New Fair Food Fund Investment in Radicle Farm Company

Urban Farm Fermentory

Investment:
$250,000 Convertible Debt
Enterprise:
Launched in 2010, Urban Farm Fermentory (UFF) produces kombucha, hard cider, and meads featuring ingredients sourced from small and mid-size New England farms. UFF distributes its products in Maine, Massachusetts, and Vermont and sells seasonal products at its Portland, Maine tasting room.
Financing Purpose & Date:
Executed in May 2015, this financing assisted UFF in purchasing equipment, increasing marketing and distribution, and building inventory. UFF also received Consulting Corps business assistance to develop a cash flow forecast ahead of financing. Fair Food Fund also assisted UFF in establishing an advisory board.
Update:
UFF launched new branding for its kombuchas and ciders and opened a new, expanded tasting room.
Related News & Resources
FROM THE FIELD BLOG

Creating Change and Locally-Sourced Brews in Portland, Maine