INCREASING FOOD SYSTEM RESILIENCE BY Unleashing THE POTENTIAL OF ENTREPRENEURS
Supporting Emerging Canadian Food Entrepreneurs
First Bite Fund is an innovative social impact fund designed to catalyze growth in Canada’s food processing sector. The fund focuses on supporting scaling food processing entrepreneurs aimed at growing strong Canadian-owned food businesses led by women and intersectional founders.
If you are a potential food founder, community/ecosystem member, or investor, get involved with First Bite Fund by clicking the button below.
Strategic Capital for Diverse Founders
Provide the right type of capital at the right time to help founders grow their business and meet consumer demand for healthy Canadian made food
A Smarter Way to Invest in Food
OUR INVESTMENT FOCUS
Stage
Growth Stage
Areas
We specialize in food system investments that have impact ingrained in their business models, including nutritious food production and processing, and sustainable packaging and transportation solutions.
Geographic Focus
Regionalization across Canada
INFRASTRUCTURE
FOOD & BEV. CPG
PROCESSORS
SUPPLIERS
Investment Strategy
Equity
- Higher risk investment where the investor is purchasing a stake in the company.
- Investment is paid out when there is an acquisition or IPO.
Convertible Notes / SAFEs
- Can provide the security of debt (fixed return) while offering the upside of equity by converting into shares in the business.
- Often have a valuation cap and / or discount at the point of conversion.
Revenue Based Loans-Shared Earnings
- Repayment is based on the performance of the business (revenue share loan) or earning of the owners (shared earnings).
- Provides higher risk-based returns than debt and built-in exit.
Revenue Based Loan Example
- $500,000 loan
- 10% topline revenue (revenues are currently at $500,000)
- 1.5x multiple
- 5 year term
Over the next 5 years, the investee will pay the fund 5% of their revenues (paid annually or semi annually). This will continue to be paid until a total of $750k is repaid to the fund. In the event it is not repaid in 5 years, the deal will be reviewed to reassess the %, multiple, and timeline to align with the realities of the business.
Fund Terms
Fund Structure: LP/GP
Holding Period: 10 years + 2
Minimum Investment: $250,000 (Institutional), $50,000 (Accredited)
Management Fee: 2.5%
Hurdle: 7%
Carry: 20%
Contact Us
Sandy Mark, SSFPA wi@ssfpa.net
Kevin Taylor, SVX kevin.taylor@svx.ca
laura@delicata.ca
