Newly formed CAVU Venture Partners has surpassed its intentions to raise $100 million for its first fund and announced a $156 million rais within four months. The fund will focus on packaged consumer goods with a concentration on both mature and startups in the food and beverage sectors.

 

CAVU was formed in the autumn of 2015, when after his Sweet Leaf Tea Co. had been acquired by Nestlé, and his Deep Eddy Vodka business was sold to a distiller for $400 million, beverage entrepreneur, Clayton Christopher, partnered with former Coca-Cola executive Rohan Oza, and former managing member at Thematic Capital Partners Brett Thomas, according to Fortune. Oza, formerly of Coca-Cola, had gone on to found Vitaminwater, which later sold to Coca-Cola.

 

Some companies in the CAVU portfolio include antioxidant drink producer, Bai Brands, which Food Dive reports secured a nationwide distribution deal, and 18 months later sold a minority stake to Dr. Pepper Snapple for $15 million. Another is super-premium pet food brand, Nulo, which is currently being sold at PetSmart retail stores.

 

CAVU will also be building brands from the ground-up. Christopher told Fortune that the first in the pipeline will be an “all-natural fresh juice-based sparking cocktail in a can,” that will be sold under the brand name, Mighty Swell.

 

Ozo told Fortune that he doesn’t believe that after 40 years, Pepsi or Coke will see a spike in growth in their core brands, creating an opportunity to find and create innovative, new products. “There’s a revolution going on in food and beverage at the moment where everyone wants to feel better about themselves,” says Ozo.