September 9, 2019

By Lynda Kiernan

New York-based Cooks Venture, a next generation food company rooted in regenerative agriculture and transparency, has raised $12 million in funding from Amerra Capital. 

“Regenerative Agriculture” refers to a holistic method of production that rebuilds soil health and organic matter, restores biodiversity, improves the nutritional profile and resilience of crops, improves the water-holding capacity of soil, and sequesters carbon to draw down atmospheric CO2 levels.

Cooks Venture was launched earlier this year by Matthew Wakiak, founder and former COO of Blue Apron. At the time, and in connection with its launch, the startup also announced its acquisition of an 800-acre farm in Arkansas and two processing facilities in Oklahoma. Included on its 800-acre, wooded farm is a hatchery, pedigree chickens with unrestricted access to the outdoors, barns, and the country’s only biodiverse vertically integrated poultry operation, making Cooks Venture the only independent genetics company of scale in the world. 

One of the founding principles driving this startup is the knowledge that sequestering just 1 percent more carbon on agricultural land can reverse climate change. Through its business, the company aims to improve the agricultural supply chain through the integration of crop science, genetic IP, and regenerative production methods at all stages, for a superior, transparent food system.

“In order to feed the population and reverse climate change, we must move to regenerative systems,” said Wadiak in March of this year. “I’ve spent ten years partnering with thought leaders and scientists to perfect farming methodology and working diligently to regenerate the sources of food consumption.”

After more than a decade in development, the company’s first products will be pasture-raised, slow-growth, heirloom chickens raised with a focus on better animal welfare, and regenerative farming methods supported by proprietary poultry genetics and crop science technology developed by Cooks Venture and its acquisitions.

“Our goal is to use crop science and state-of-the-art technology to build regenerative processes and change our current food system while mitigating climate change. We’re starting with the most impactful and prolifically eaten food in the world – poultry,” said Wadiak.

New Chains of Opportunity

Founded in 2009, AMERRA Capital Management is a New York-based agribusiness asset manager with more than $2 billion in assets under management. Focusing on both private equity and private debt strategies, the company targets upstream and midstream agribusinesses and aquaculture operations in the Americas and Western Europe, and since its launch, has completed more than 330 transactions with cumulative invested capital of $5 billion. 

This investment in Cooks Venture is the second partnership for Amerra with a company that is working to establish a new supply chain, more aligned with today’s consumer demands. In February 2017, the firm joined forces with Pipeline Opportunity Partners to launch Pipeline Foods – a developer of sustainable supply chains in global agriculture that will have an initial focus on filling the need to meet demand for organic and non-GMO grain and oilseed ingredients.

After launching earlier this year, Cooks Venture rapidly forged relationships in support of the scaling and commercialization of its business model and products. The company partnered with FreshDirect to make its slow-growth, heirloom chickens available across the U.S. Northeast, and two months later, partnered with fourth generation meat distributor Gold Gate Meat Company, which expanded its reach to customers, restaurants, and food retailers across Northern California.

“We strongly support Cooks Venture and its dedication to improving the agriculture ecosystem through scientifically proven regenerative practices and innovation,” said Chris Chapman, managing director, AMERRA. “Matthew’s impressive background in the food and technology industries, combined with his drive to create lasting change in the agriculture space, will surely solidify Cooks Venture as a household name.”

With the capital gained through this round, Cooks Venture opened a completely renovated state-of-the-art air-chilled processing facility which would enable the company to produce up to 700,000 slow-growth, heirloom chickens per week.

“AMERRA was an ideal partner for us and their provided financing will help us achieve our near-term growth objectives and allow us to expand our capacity to serve B2B and direct consumers nationally,” said Wadiak.

“Most importantly, this financing will give us the opportunity to further shape how regenerative farming is used within the larger agriculture space and help farmers who are looking to get more involved, .all while providing consumers with responsible food choices driven by our proprietary systems.”

– Lynda Kiernan is Editor with GAI Media and daily contributor to GAI News. If you would like to submit a contribution for consideration, please contact Ms. Kiernan at lkiernan@globalaginvesting.com.