Bhakti Chai lands $3M investment from Colorado Impact Fund

BOULDER — The Colorado Impact Fund is investing $3 million in Boulder-based Bhakti Chai, a manufacturer of craft-brewed chai tea.

A portion of the investment will be used to help Bhakti Chai build a larger manufacturing facility in Longmont, support the company’s sales and marketing efforts, and expand distribution nationwide.

As a part of the transaction, John Foraker, president of Annie’s Inc. and a prior angel investor in Bhakti Chai, will be joining the company’s board.

The Colorado Impact Fund, a private-equity firm based in Denver, was founded last year by Jim Kelley and Ryan Heckman. Kelley is a co-founder of Vestar Capital…