NEW YORK, November 30, 2022 - New Fare Partners (New Fare), a new investment fund serving the modern eater, is pleased to announce that it has raised $20 million to date in its inaugural Fund 1. A specialist venture fund, New Fare invests exclusively in early stage food and beverage businesses with distinct value propositions.

Taking place during a time of market uncertainty, the successful fundraise is evidence that investors continue to see the opportunity in early-stage food and beverage companies, particularly those supported by funds with high-conviction teams and a hands-on approach.

Launched in Spring 2022, New Fare has made 8 investments in an expanding portfolio of businesses redefining how we eat, access and experience food. Investments include the first-of-its-kind retailer, Foxtrot, the world’s first and only cat-crafted cat food brand, Made by Nacho, uniquely authentic Mexican omni-channel brand, Tacombi, Japanese Barbecue sauce company, Bachan’s, and the first functional chocolate bar, Mid-Day Squares. Omsom, Ark Foods, and Actual Veggies round out the current portfolio.

New Fare’s investor group consists of prominent LPs, many of whom are former founders themselves, including Walter Robb, former Co-CEO of Whole Foods Market; Bobby Flay, Chef/Restaurateur and Entrepreneur; Kathleen King, Founder of Tate’s Bakeshop; Gary Hirshberg, Founder of Stonyfield Organic; Andrew Abraham, Founder of Orgain; Gabi Lewis, Founder of Magic Spoon; Charlie Sweat, Former CEO of Earthbound Organics; David Barber, Partner at Astanor Ventures, Co-Owner/Founder of Blue Hill and Almanac, and Nick McCoy, Founder and Managing Director of Whipstitch Capital. Advisors include Michael Dubin, Founder and Former CEO of Dollar Shave Club; Lily Chang, PE Industry Executive; and Christina Minardi, Global EVP, Growth & Development atWhole Foods Market.

New Fare is built on the track record and expertise of Founder & Managing Partner, Elly Truesdell. Widely recognized as a tastemaker of the U.S. Consumer Packaged Goods (CPG) industry, she brings 15 years of unmatched experience at the center of Natural Food, influencing trends, defining categories, and accelerating growth for thousands of brands and “better for you” food products.

Truesdell is especially well known for spending nearly a decade at Whole Foods Market where she oversaw the $300 million business unit responsible for the company's innovation strategy, as Global Director of Local Brands & Product Innovation. During her Whole Foods tenure, Truesdell seeded hundreds of today’s most iconic disruptor brands - including RX Bar (acquired for $600 million by Kellogg’s in 2017), Sir Kensington’s (acquired for $140 million by Unilever in 2017) and Hu Kitchen (acquired for $340 million by Mondelez in 2021). She later operated manufacturing business, Canopy Foods, Co-Founded the omni-channel pet brand, Made by Nacho and served as Partner at Almanac before founding New Fare.