Boulder Food Group closes new $100 million fund

BOULDER —  Boulder Food Group, the investment firm that partners with innovative and socially conscious food and beverage companies, closed its second fund at more than $100 million.

The fund, BFG Fund II, came in oversubscribed and required no placement agents.

“Fund II will give us the opportunity to invest deeper in a set of brands while staying focused on innovative early-stage food and beverage companies,” said Tom Spier, founder of Boulder Food Group, in a prepared statement. “We’re exploring investments in a variety of categories with compelling value propositions for today’s changing consumer landscape.”

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Boulder Food Group was founded in 2014. Its first fund, which had more than $50 million, included the sale of Austin-based Chameleon Cold Brew to Nestle in 2017 after just two years. Boulder Food Group has offices in Boulder and Los Angeles and provides hands-on support to its portfolio companies.

The initial investment from BFG Fund II will go to Olipop, the first clinically-backed flavored-tonic beverage that benefits the microbiome and digestive health.

“We feel that Olipop is well-positioned at the intersection of great taste and true functionality, with nothing like it on the market,” Dayton Miller, managing partner of BFG in Los Angeles, said in a prepared statement.

Olipop joins BFG’s portfolio, which includes Barnana, Caulipower, 4th and Heart, Birch Benders and other food brands.