Califia Farms, the Californian plant-based business best known for its alternative milk products, has raised US$225m in a funding round led by the Qatari government’s investment arm.
The Qatar Investment Authority (QIA) was joined in the funding round by Singapore-headquartered investment company Temasek, Canada-based Claridge, Hong Kong-based Green Monday Ventures, and a Latin America-based family with significant interests in coffee and consumer products.
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The new investor group will take a minority stake in Califia Farms, with representatives from QIA, Temasek, and Claridge joining the company’s board alongside founder Greg Steltenpohl and existing investors Sun Pacific, Stripes and Ambrosia.
Califia described the funding as “of the largest private capital raisings within the natural foods sector”. The company said the investment will help it “build on the success of its oat platform and launch other lines”.
It added that proceeds will also allow it to further invest in increased production capacity, R&D, deeper US penetration and continued global expansion.
Steltenpohl said: “The more than US$1trn global dairy and ready-to-drink coffee industry is ripe for continued disruption, with individuals all over the world seeking to transform their health and wellness through the adoption of minimally processed and nutrient rich foods that are better for both the planet and the animals. Califia’s role is to help plant the future.
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By GlobalData“Speed to market is critical for companies at our stage and we are thrilled that our new partners share our vision to be the leading independent brand in the plant-based sector. Each of our partners brings significant resources and global expertise to accelerate our next stage of our growth.”
QIA has a broad portfolio of investments. It is the largest shareholder in UK supermarket group Sainsbury’s and also owns The Harrods Group, including its flagship store in London’s Knightsbridge.
