UK challenger brand JimJams Spreads has received backing from local investment vehicle The Good Food Fund.
The fund, which backs better-for-you brands, has paid GBP200,000 (US$273,515) for a minority stake in the business. It is the fund’s second investment, although the identity of the first company to receive its backing has not been made public.
Early stage venture capital firm Ascension Ventures manages the GBP1.8m fund on behalf of Big Society Capital and Impact on Urban Health, a part of Guy’s & St Thomas’ Charity.
The fund’s accelerator programme is managed by Mission Ventures, which was established by food industry entrepreneurs.
Launched in 2015 by parents Kevin and Kellie Bath, JimJams, based in Essex, north of London, makes chocolate and hazelnut spreads with no added sugar. They are sold via major supermarket chains including Sainsbury’s, Morrisons and Asda.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataSee Also:
JimJams’ product range, which also includes chocolate dippers, fits with the fund manager and Mission Ventures’ stated intent of backing “market-led solutions” to childhood obesity with equity and business support.
Kevin Bath said: “The investment from Good Food Fund is a massive boost for our growth. The additional support from Mission Ventures will help us immeasurably in shaping the business and continuing to offer parents healthier options to everyday snacks and store cupboard staples.”
JimJams will receive 12 months of free business acceleration support provided by Mission Ventures as part of the investment package.
Mission Ventures CEO, Paddy Willis said: “We’re delighted to continue to support Jim Jams in providing healthier alternatives for families without compromising on taste. Our accelerator programme is run by entrepreneurs for entrepreneurs and designed to optimise their chances of scaling successfully.”
Mission Ventures was launched last March by Willis, co-founder of the Plum Baby brand, alongside John Stapleton, co-founder of New Covent Garden Soup and Little Dish and Nigel Parrott, co-founder of Ape Snacks.
It announced its first accelerator cohort in June.
