The first Fortune 500 company to launch an investment fund through CircleUp - which connects CPG entrepreneurs to accredited investors via its online marketplace – General Mills said the move would enable it to identify and invest in promising emerging food brands earlier.
In addition to capital, 301 Inc will also give its portfolio companies access to General Mills' capabilities and expertise in supply chain, research and development, finance and marketing, said CircleUp founder Ryan Caldbeck.
“This is the first time a major consumer packaged goods company has used an online marketplace to find consumer brands.
"From the beginning, we've been committed to helping our brands access capital and resources to help them scale, and now they will benefit from more access to General Mills."
Since 2012, CircleUp has helped 120+ companies raise more than $135m. Companies that have raised money on the CircleUp platform average an 86% year-over-year revenue increase following their raise, said Caldbeck.
Click HERE to read more about 301 Inc.
Click HERE to read more about CircleUp, which has helped scores of promising consumer brands raise growth capital, from Smári Organics to Peeled Snacks, Barnana, tarte Asian Yogurt and World Peas.