Tiger Brands’ Venture Capital Fund Announces Its Investment In Cape Town Based Start-Up ‘Herbivore Earthfoods’
Tiger Brands’ Venture Capital Fund Announces Its Investment In Cape Town Based Start-Up ‘Herbivore Earthfoods’. Tiger Brands’ Venture Capital Fund has announced its first investment in Herbivore Earthfoods, this is a startup based in Cape Town, South Africa.
“In line with global trends, consumers in South Africa and across the continent are driving increased interest and desire for a wide range of plant-based products. Herbivore’s innovative and tasty meat and dairy alternatives have gained significant traction, with scope to scale and drive further penetration. This is a compelling opportunity, where we are very proud to back innovative entrepreneurs and we are inspired by the team’s underlying desire to improve eating habits and change the current food system for the better. said Barati Mahloele, Venture Capital Fund Director of Tiger Brands in a statement.
“Our partnership with the Herbivore team will involve leveraging each other’s combined strengths to achieve their growth strategy and to push the boundaries of an affordable and healthy alternative product offering to consumers.” Mahloele continued. Together with co-investor, Secha Capital, an early-stage impact private equity firm, the Tiger Brands Venture Capital Fund has become a minority shareholder in the business, which is co-run by Founder, Chanel Grantham and Davey du Plessis, Herbivore Earthfoods Director.
Tiger Brands and Secha Capital will use their considerable experience in the food and beverage sector to help grow and scale Herbivore Earthfoods with one of its objectives being to make plant-based foods more accessible and affordable for the South African consumer. The Tiger Brands’ Venture Capital Fund will be actively involved in supporting Herbivore’s growth ambitions through improved governance and strategic guidance, as well as leveraging the Group’s route-to-market and research and development expertise.
Secha Capital brings considerable expertise in the FMCG market, investing in established SMEs across Africa, and Tiger Brands recognised the added value they would help to unlock in Herbivore.
