Vegan Cookie Brand Secures $1 Million Investment by Jay-Z’s Venture Firm
A vegan cookie brand called Partake Foods recently secured an investment of $1 Million led by Jay-Z. The plant-based cookie brand was founded in 2016 and creates exclusively allergy-friendly, plant-based snacks. Know more about it here.
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Vegan Cookie Brand ‘Partake’ Secures a $1 Million Investment Led by Jay-Z
American rapper Jay-Z recently extended his investment portfolio by leading a million dollar deal for a vegan cookie making firm. Partake Foods was established in 2016 by a former national Coca-Cola sales director Denise Woodard. After Denise’s baby daughter started taking solids, some of her allergies came to the forefront. Due to the lack of allergy-friendly vegan options on the market, a frustrated Denise went on to establish her own company making allergy-free, plant-based cookies. This is how Partake Foods was born. Now you can grab cookies in multiple varieties like ‘sprouted grain chocolate chip,’ ‘double chocolate chip,’ ‘sweet potato millet,” carrot oat,’ and ‘birthday cake.’
This week, the New Jersey-based vegan cookie brand announced their $1 million deal with Jay-Z’s investment firm – the Jay Brown and Larry Marcus-led venture capital firm called Marcy Venture Partners, as per multiple reports. Speaking on Partake’s inception, Denise Woodard stated she initially used to sell the cookies from her car, and now their product is available in over 300 stores, business media outlet Entrepreneur reports. She further stated they plan to extend their retailing footprint to 1000 stores by this year.
“We are honored to back [Partake Founder] Denise [Woodard] and the team and help grow their business,” stated Larry Marcus: Marcy Venture Partners co-founder and managing director, in a press release, Entrepreneur reports. He added– “Partake has the ingredients to build a mass market brand: compelling values, a great tasting product, and a tenacious and experienced operator.”
“I’m not a businessman, I’m a business, man.”
Jay-Z, born Shawn Carter, recently became the first billionaire rapper according to Forbes. The leading American rapper owns stakes in companies like Uber and other different sectors. He was also one of the stars behind Impossible Foods’ star-studded list of investors in their May Series E-funding, where the plant-based meat alternative company raised $300 million. Serena Williams and Katy Perry were other notable celebrities backing the project.
The vegan food industry is simply soaring. Which is your favorite vegan cookie brand? Let me know your thoughts in comments.