Gordon Food Service invests in $595 million food and retail venture fund

WYOMING — Foodservice Distributor Gordon Food Service Inc. is among returning investors in a Chicago-based venture capital fund that invests in the grocery and retail industries.

Wyoming-based Gordon Food Service participated in Valor Equity Partners’ recent $595 million fundraising round for Valor Siren Ventures II LP, an early-stage venture capital fund.

The new fund, which exceeded its $400 million goal, follows in the footsteps of Valor Siren Ventures I, which Chicago-based Valor Equity formed in 2019 in partnership with Seattle-based Starbucks Corp.

Strategic anchor investors Starbucks and Swiss company Nestlé SA both participated in the second fund. In addition to Gordon Foods, other returning investors included Marriott International Inc., Kuwait-based multinational retail franchise operator Alshaya Group, and Mexico City-based restaurant operator and holding company Alsea SAB de CV.

Valor Siren Ventures targets investments in early-stage companies in food, food technology, retail, retail technology and sustainability in food markets and retail.

Valor Equity Partners manages both funds.

“Our world-class strategic and financial partners in VSV I have joined us in our oversubscribed VSV II fundraising round,” Valor Siren Ventures fund manager Jon Shulkin said in a statement. “VSV II will continue to partner with and serve exceptional entrepreneurs and businesses that are driving innovation and leadership in our industry focus areas with an increased focus on sustainability.”

Valor Equity Partners closed fundraising for the second fund in early April, but just announced fundraising results this week.

Gordon Food Service has been active in the venture capital industry in recent years. The company formed the Chicago-based company in 2017 relish works corporate venture capital funds to invest in companies that are modernizing the restaurant industry.

Previous investments have included 86 Repairs Inc.a Grand Rapids-based company that streamlines the end-to-end repair and maintenance process for restaurants.

Gordon Food Service, Relish Works and the Chicago-based nonprofit 1871 have also partnered to create The Food Foundry, a Chicago-based start-up accelerator focused on growing businesses in the food industry. food and drink.

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