Investor Profile: Supply Change Capital - Thesis, Cheque Size & How to Apply

Supply Change Capital is an early stage venture firm investing in the technology that will rebuild how food is grown, moved, sold and eaten. If you are wondering how to get funding from Supply Change Capital, the test is twofold: does your technology modernise a piece of food infrastructure, and does it deliver a measurable benefit for people or the planet? The firm describes the global food industry as a $10 trillion system that still runs on outdated tools, and it backs the companies replacing them.

The firm is headquartered in Los Angeles and Chicago and is led by two general partners, Noramay Cadena and Shayna Harris. Cadena is an aerospace engineer turned investor who previously ran an early stage fund backing manufacturing and supply chain companies. Harris spent two decades as a food operator and builder, including as chief operating officer of Farmer's Fridge, where she helped build the venture backed fresh food company to tens of millions in revenue, and earlier developing a sustainable commodities programme at Mars.

Thesis: culture, climate and the food supply chain

Supply Change Capital invests at the intersection of food, culture and technology, with a lens for culture and climate. Its current framework focuses on three areas: supply chain, health and nutrition, and workforce. That means automation that improves labour and safety, platforms that predict climate volatility and supply chain risk, nutrition technology that helps people make healthier choices, and tools that help food workers and businesses operate more efficiently.

Fund size and cheque size

Supply Change Capital closed a debut $40 million fund to invest in the future of food. By the time of that close it had deployed more than $13 million across 15 early stage food and agriculture technology companies. Its limited partners included 301 INC, the venture arm of General Mills, MassMutual through its First Fund Initiative, the Illinois Growth and Innovation Fund, Bank of America, Illumen Capital and J.P. Morgan Asset Management. The firm's cheque size for new investments is not publicly disclosed, and any fund raised after the debut fund is not publicly disclosed.

Notable portfolio companies

The portfolio spans the supply chain from diagnostics to distribution. Alveo is a molecular diagnostics platform for early pathogen detection across animal, environmental and human health. Celleste Bio uses plant cell culture to produce chocolate ingredients without trees. FoodHealth Company uses its proprietary FoodHealth Score to guide nutrition choices. Loamy provides AI powered enterprise software for the perishable food supply chain, Terrantic uses AI to turn supply chain data into action for agriculture, and Verve Market is a personalised online supermarket aligned to health needs and values.

Programmes and support

All founders in the portfolio take part in a cohort based signature programme focused on leadership, management and culture, designed to prepare teams for fast growing organisations. The firm also runs the Female Founders in Food Tech Pitch Event (F^3), for early stage food and agriculture technology companies founded and led by women, which has offered equity free capital and a showcase platform for finalists.

How to apply for funding

Founders can reach Supply Change Capital through the contact route on its official website, supplychange.fund, which also hosts its pitch pages for events such as F^3.