Investor Profile: 301 INC — Thesis, Cheque Size & How to Apply

Wondering how to get funding from 301 INC? Read this first: 301 INC is not currently investing. On 6 March 2025, General Mills confirmed it was discontinuing its G-Works incubator and 'pausing additional investments through 301 Inc for the foreseeable future' (Food Business News, quoting spokeswoman Chelcy Walker), as the company realigned incubation and venturing under a new Strategic Growth Office. The existing portfolio is unaffected. This profile covers what 301 INC was — the pioneering food corporate VC launched in 2012 — and what its pause means for founders.

Thesis and sweet spot

301 INC was General Mills' corporate venture capital arm, making early-stage minority investments in emerging food brands. Its historical portfolio spanned plant-based foods, functional snacks, pet food and food-tech — the categories where a legacy food giant sought entrepreneurial energy. Later, the unit also sourced opportunities for the company's Gold Medal Ventures growth-equity fund.

At its peak, the sweet spot was emerging consumer food brands with differentiated products and early traction — companies General Mills could mentor, distribute and eventually learn from. 2016-era reporting put investments in the $1M-$18M range, though no current range applies while the pause is in effect.

Cheque size and fund

301 INC never published a fund size, and with new investments paused, no cheque-size guidance is currently meaningful. The historical $1M-$18M range (2016-era reporting) describes the active era only. Founders should not pitch 301 INC for new investment at this time.

Notable portfolio

Historical investments from the firm's press releases include Beyond Meat, Kite Hill, Farmhouse Culture and Pots & Co (301 INC led a multimillion-dollar investment in the London-based Pots & Co). The current portfolio, per the Gold Medal Ventures website as cited by Food Business News, includes Everything Legendary, Mealogic, Urban Remedy, PetPlate, Smalls, BeeHero and PitPat. The Beyond Meat bet — made when plant-based meat was still contrarian — remains the signature call.

Partners

John Haugen was the founder and managing director of 301 INC, per General Mills press releases — one of the architects of the food-industry corporate VC model.

Programs, credits and perks

301 INC does not run public founder programmes, and with the investment pause in effect, there is no active programming to join. Historically, the unit also backed minority and female entrepreneurs through dedicated investment efforts (per Specialty Food reporting).

How to apply for funding

There is currently no active application route: General Mills paused new investments through 301 INC in March 2025 'for the foreseeable future'. Historically, entrepreneurs could contact the team via 301inc.com (2015). Food founders seeking corporate venture capital today should look to active food CVCs — and watch whether General Mills' Strategic Growth Office revives the mandate.