September 8, 2016

Boulder Investment Group Reprise (BIGR) announced the closing of its newest fund, BIGR Ventures LP, at $55 million after its launch in December 2015 with an initial tranche of $18 million.

The company was founded by Carole Buyers, Duane Primozich, and Bill Weiland–three executives that managed an investment unit of Boulder Brands prior to that company being acquired by Pinnacle Foods for $975 million at the end of last year.

BIGR Ventures LP will build upon the success of their last fund, Boulder Brands Investment Group (BBIG) that backed EPIC Bar, which was acquired by General Mills, and Suja Juice, which partnered with Coca-Cola. The new fund will focus on investing in early-stage and startups companies focused on natural and organic foods.

“We’re thrilled to be able to continue the momentum we created with Boulder Brands Investment Group, and carry it forward into Boulder Investment Group Reprise,” BIGR co-founder, Primozich explains. “We’ve had the privilege of partnering with some terrific brands and are humbled by the enthusiasm we have received for this next fund.”

Investors backing BIGR Ventures include “individual investors, natural food luminaries, and institutional investors,” according to Primozich.

The trio of founders told the Daily Camera that the fund will make commitments to companies with revenue of between $1 million and $15 million, and Biz West reports that the fund has invested $6 million in three companies to date: Austin-based fermented drink maker Live Beverages, Louisville-based organic hummus company Hope Foods, and bone broth company Bonafide Provisions.

Although the fund will not constrain its investments to any particular segments, Primozich told the Daily Camera that grain-free businesses and fermented foods have been noted as promising categories with strong growth fundamentals.

“I think of grain free today like we thought of gluten free five years ago,” Primozich told the Denver Post.

The fund’s five-year plan is to build a portfolio of seven to ten companies through Series A rounds and possible capital commitments in subsequent rounds, Primozich told Biz West.

“You can get a pretty good sense—in a relatively small sample size—if folks are buying products hand over fist,” Primozich explained to the Denver Post.

“Between the three of us we’re able to help these companies across every function in the organization in an intimate way,” Primozich said. “The ability to do what we’ve been doing our whole careers, have a lot of fun, and create success among all those stakeholders is really gratifying.”

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Lynda Kiernan