March 14, 2024

By Lynda Kiernan-Stone, Global AgInvesting Media

Founded by Tom Spier (co-founder of EVOL) in 2014 in Boulder, Colorado, BFG is a food and beverage-focused venture centered on backing disruptive, better-for-you, innovative, and socially-conscious food beverage and supplement brands.

Following the success of their first Fund, which closed at $54 million, and Fund II, which closed at more than $100 million in 2019, the firm announced the launch of BFG Fund III with a target of $125 million. 

Operating out of offices in Boulder, Colorado, and Los Angeles, California, the BFG team is composed of former founders and CEOs with more than 30 years of industry experience in consumer goods. 

“We’re fortunate to have the opportunity to continue to support the health and wellness ecosystem with Fund III,” said Tom Spier, founder and managing partner, BFG Partners. 

“We know first-hand what a difference growth capital can make for young companies competing for market share, and we’re honored to share our learnings from the past decade with the founders that we partner with in the future.”

This experience is evident in the firm’s track record, having made savvy investments including early support for some of today’s top trending consumer packaged goods such as OLIPOP (the first investment made through Fund II), Mid-Day Squares, Athletic Greens, and Vacation.

The team also has successfully negotiated and navigated multiple exits, including the acquisition of Chameleon Cold Brew by Nestle, the acquisition of Birch Benders by Sovos Brands, and Curlsmith by Helen of Troy. 

With the dual mission of profit and purpose, BFG Partners explained that its mission is to drive positive change by working closely with exceptional founders to foster performance by going beyond financial backing to support operational strategy, tactical marketing, channel development, organizational design, and capital planning. 

“Fund III will help us provide hands-on strategic support while staying focused on innovative early-stage companies,” said Dayton Miller, managing partner, BFG Partners. “We’re currently exploring investments in a variety of categories with compelling value propositions for today’s evolving consumer.”

~ Lynda Kiernan-Stone is editor in chief with GAI Media, and is managing editor and daily contributor for Global AgInvesting’s AgInvesting Weekly News and  Agtech Intel News, as well as HighQuest Group’s Unconventional Ag. She can be reached at lkiernan-stone@globalaginvesting.com.

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