WEBVTT 1 00:00:00.130 --> 00:00:03.530 Elly Truesdell, partner at Almanac Insights. 2 00:00:03.530 --> 00:00:07.500 So, Almanac is a $30 million venture fund. 3 00:00:07.500 --> 00:00:10.510 line:15% We look across the food and beverage landscape 4 00:00:10.510 --> 00:00:13.810 line:15% and look to invest in consumer brands, 5 00:00:13.810 --> 00:00:17.790 line:15% in agricultural companies, technology companies 6 00:00:17.790 --> 00:00:20.110 line:15% that are supporting and, hopefully, transforming 7 00:00:20.110 --> 00:00:22.560 line:15% the food system in a positive way. 8 00:00:22.560 --> 00:00:25.560 line:15% My role in my job is to access new, 9 00:00:25.560 --> 00:00:28.290 line:15% interesting opportunities and find deal flow. 10 00:00:28.290 --> 00:00:30.760 It's also supporting our current portfolio 11 00:00:30.760 --> 00:00:33.940 with any number of operational, 12 00:00:33.940 --> 00:00:37.123 network resource, hands-on benefits. 13 00:00:38.969 --> 00:00:40.020 On the other hand, it's also 14 00:00:40.020 --> 00:00:41.390 just doing a ton of diligence 15 00:00:41.390 --> 00:00:43.593 on the investments we are looking at. 16 00:00:44.980 --> 00:00:46.620 I think it's been really interesting, 17 00:00:46.620 --> 00:00:48.590 line:15% because we certainly have a financial 18 00:00:48.590 --> 00:00:50.750 line:15% half to our team, and I bring more 19 00:00:50.750 --> 00:00:53.340 line:15% of a strategic background, purchasing, 20 00:00:53.340 --> 00:00:56.970 line:15% an overall food trends background to the mix. 21 00:00:56.970 --> 00:00:59.290 We look earlier-stage, 22 00:00:59.290 --> 00:01:03.090 but we are a bit of generalists. 23 00:01:03.090 --> 00:01:05.160 We're a small fund, especially in the scheme 24 00:01:05.160 --> 00:01:08.890 of investment funds in New York and in the world. 25 00:01:08.890 --> 00:01:11.560 But, we find ourselves looking 26 00:01:11.560 --> 00:01:13.383 at seed deals, so very small companies. 27 00:01:13.383 --> 00:01:14.850 They can be pre-revenue 28 00:01:14.850 --> 00:01:17.140 or having just, just launched. 29 00:01:17.140 --> 00:01:19.080 We look at growth-stage companies 30 00:01:19.080 --> 00:01:21.930 that are much later and are looking 31 00:01:21.930 --> 00:01:24.750 line:15% to probably take us on as a strategic investor 32 00:01:24.750 --> 00:01:26.840 line:15% rather than for our capital. 33 00:01:26.840 --> 00:01:30.720 line:15% Very often we're taken on as operational partners 34 00:01:30.720 --> 00:01:33.290 line:15% where we can really dig in, provide our network, 35 00:01:33.290 --> 00:01:35.080 and support companies that way. 36 00:01:35.080 --> 00:01:38.100 But, for considering a consumer product good 37 00:01:38.100 --> 00:01:42.550 for a CPG food brand, which is mainly what I look at, 38 00:01:42.550 --> 00:01:44.630 that could be Siggi's Yogurt, 39 00:01:44.630 --> 00:01:46.510 that could be KIND Bar, 40 00:01:46.510 --> 00:01:48.520 any sort of food products like that, 41 00:01:48.520 --> 00:01:51.350 we have a number of criteria, but I would say 42 00:01:51.350 --> 00:01:54.130 some really, really big ones are team, 43 00:01:54.130 --> 00:01:58.630 experience, level of integrity, trust, track record. 44 00:01:58.630 --> 00:02:00.940 We look at product itself and the brand. 45 00:02:00.940 --> 00:02:02.400 We look at the addressable market 46 00:02:02.400 --> 00:02:05.090 line:15% and how big we feel the product 47 00:02:05.090 --> 00:02:07.980 line:15% and product category is to meet. 48 00:02:07.980 --> 00:02:09.550 line:15% Then, based on our backgrounds 49 00:02:09.550 --> 00:02:12.570 line:15% and my own food philosophy or ideology, 50 00:02:12.570 --> 00:02:14.760 we really are looking for brands that are 51 00:02:14.760 --> 00:02:17.650 providing some sort of meaningful solution, 52 00:02:17.650 --> 00:02:19.510 meaningful alternative, or transforming 53 00:02:19.510 --> 00:02:20.943 the food system in some way.