Growth equity fund providing firm, BIGR Ventures, known for betting their money on the organic foods market, has decided that their next venture would be to explore the CBD market reports Business Insider. As it turns out, they’ve invested a year’s time in the industry and have decided to lead a $3 million Series A round for RE Botanicals, a firm offering organic foods.
According to a Partner at BIGR Ventures, Carole Buyers, the decision not only stems from having conducted research, but also since the passing of the 2018 Farm Bill. Buyers together with partners, Bill Weiland and Duane Primozich have a select number of investments in their portfolio including High Brew Coffee, Hope Foods and Suzy’s to name a few.
One common interest that supposedly stemmed from consumers is that of organic CBD supplements. This led the partners to seek for a brand that has a traceable supply chain and has been certified organic. Here’s as per her quotes:
“We wanted no product from China. We wanted no extractions from hexane, butane or propane. And last, we wanted the product to be organic and non-GMO.”
Prior to going with RE Botanicals, the team at BIGR supposedly provided an overview of what they thought of the CBD industry altogether, with emphasis on regulation to their limited partners. This process supposedly entailed educating said individuals, while advising them that they knew of the “certain things that needed to happen on the regulatory side to de-risk the investment.”