Renewal2 announced today an investment in Small Potatoes Urban Delivery (SPUD), North America's largest Internet grocer of organic and natural foods, to its portfolio of companies seeking to deliver superior financial, social and environmental returns.
Paul Richardson, President of Renewal2, says, 'We are excited to invest in a Vancouver-based company that offers the rare opportunity to have a scalable business and support local, organic food producers.'
Founded in 1998 and based in Vancouver, B.C., SPUD has grown significantly with operations in Vancouver, Victoria, Calgary, Seattle, Portland, San Francisco and Los Angeles. The company's operations greatly reduce the carbon footprint associated with grocery shopping by replacing hundreds of individual trips that consumers take each week driving to the grocery store with one trip by a truck using optimized delivery routes. The company also has a goal of sourcing 60% of its products from local producers in each of its locations.
As a part of a new round of financing, SPUD has also taken on new management including Peter Van Stolk, former CEO and Founder of Jones Soda Company.
The addition of SPUD brings the Renewal2 portfolio to seven investments in early growth stage companies. They are: Alter Eco Americas, Better Energy Systems, Blue Horizon Foods, Horizon Distributors, Rustic Crust and Seventh Generation.
About Renewal2 Investment Fund
Based in Vancouver, BC, Renewal2 (www.renewal2.ca) is a social venture fund that builds upon 15 years' experience in successful high-impact investing.
Disclaimer: This is not an offer or solicitation to sell securities of, or financial interests in, the Fund. Investment in the Fund is limited to a restricted pool of investors, namely 'Accredited Investors' and others not requiring disclosure by prospectus as defined under applicable securities laws.