Supply Change Capital
Chicago and Los Angeles
What it is: Founded in August 2020, Supply Change Capital is a pre-seed and seed stage fund that is focused on 2045, the tipping point when minorities become the majority of U.S. consumers. The firm is investing in companies that are the “changing face of food” via technology, the use of sustainable ingredients and brands that have cultural appeal. It also looks for food brands made by and for specific segments such as women, people of color, diaspora – all verticals that can achieve mass market appeal. The fund thesis was catalyzed by an angel investment in OmSom, a New York-based food company that sells Asian spices and was started by Vanessa Pham and Kim Pham, sisters and co-founders who are children of Vietnamese refugees.
Leadership: Founded by Noramay Cadena, a former managing partner at MiLA Capital, an early-stage venture capital firm she co-founded in Los Angeles that invested in tech you can touch and also led investments for Portfolia’s Rising America Fund, a micro fund investing in Latinx, Black and LGBTQIA founders; and Shayna Harris, former chief growth officer of Farmer’s Fridge who has advised brands such as Mars, Stonyfield, Unilever and Starbucks on how to implement strategic sourcing and sustainability programs within their businesses.
Investment style/track record: The firm makes average investments of $500,000 to pre-seed and seed stage companies. Over 75% of companies in Supply Change Capital’s pipeline in the past 90 days were founded by women and/or people of color.
Quote: “Women and people of color who have historically created our food and flavors will play an incredible role in building the next generation of iconic brands at the supermarket,” said Cadena. “We see this wave already building.”