Participated · Equity · Nov 2025

GoodLeaf Farms, originally founded in 2010 as TruLeaf, operates a network of indoor vertical farms that grow pesticide-free baby greens, microgreens and custom blends for Canadian retailers and consumers. Headquartered in Guelph, Ontario, the company runs commercial farms in Alberta, Quebec and Ontario and positions itself as the country’s sole coast-to-coast vertical-farming brand. CEO Andy O’Brien reports that demand for GoodLeaf’s produce nearly doubled by April 2025, prompting plans to double the capacity of its two largest farms in 2026. The firm is also building an Agricultural Centre of Excellence in Guelph to research technologies that improve yield, efficiency and sustainability across its facilities. Capital efficiency and local production are central to the model, which McCain Foods—its largest shareholder—describes as transformative for sustainable agriculture. GoodLeaf intends to expand further into Western and Central Canada while refining new growing technologies through its forthcoming R&D centre. The company’s momentum is supported by both strategic and financial investors committed to domestic food security and sustainable farming.

Led · Equity · Dec 2021

Strong Roots produces plant-based frozen food products sold in existing markets including the UK and the US. The company has entered a strategic partnership with McCain Foods, which will provide distribution reach and resources to expand into additional retailers. The deal also opens entry into the foodservice/out-of-home channel via McCain’s network. Strong Roots will continue to operate in an independent capacity, according to the company. The transaction includes a $55 million minority investment from McCain Foods and signals an exit for Series A lead investor Goode Partners. The partnership is positioned to broaden Strong Roots’ market presence and ‘fix the freezer aisle’ with more plant-based options. Strong Roots produces vegetarian and plant-based frozen foods — including premium root vegetables, veggie burgers and items like Cauliflower Hash Browns — sold in major U.K. and U.S. retailers. The company is stocked in U.S. retailers such as Target, Wegmans and Whole Foods and in the U.K. at Tesco, Asda, Sainsbury’s and Marks and Spencer. It is not a direct-to-consumer business or a novel technology developer; instead it focuses on branded frozen CPG sold through retail channels. Strong Roots began selling frozen foods in 2015 and is led by CEO Samuel Dennigan. The company says it is on track to move $50 million worth of frozen vegan food in the current calendar year and expects sales to more than quadruple over the next four years. Management plans to use new financing to expand its U.S. presence and to build R&D and technological capabilities, including product fortification and other IP development to broaden categories.

Participated · Equity · Jul 2020

Simulate (formerly Nuggs) makes Nuggs, a plant-based chicken-nugget alternative that launched DTC in Summer 2019. The company rebranded from Nuggs to Simulate and has pushed aggressively into retail over the past six months. Today the product is available in roughly 5,000 retail locations, including Walmart/Sam’s Club, Target, and Whole Foods, and the majority of sales now come from retail rather than DTC. Simulate has begun international expansion with a recent Canada launch and says it is preparing to enter restaurants and fast food. The company will use new funding to expand headcount from about 20 employees to roughly 50 by 2022, with over half of hires focused on engineering. Its total funding is now north of $60 million and the company is valued at $260 million. Simulate, formerly Nuggs, builds direct-to-consumer frozen chicken nugget replacements and iteratively refines formulations via public "release notes." Since launch a bit over a year ago the company has sold 1 million pounds of nuggets and is beginning retail distribution, with frozen nuggets debuting in about 30 Gelson's supermarkets in California. It plans to expand its lineup with spicy nuggets, a chicken patty expected in the next few months, and a hot dog product called DOGGS slated for the fourth quarter. Founder Ben Pasternak has discussed potential sales options such as a beta-testing subscription for highly engaged customers. The company rebranded to Simulate to reflect broader product ambitions and recently hired Thierry Saint-Denis, formerly senior director of research and innovation at Danone, as CTO. Saint-Denis brings technical experience and more than 14 patents related to functional ingredients, probiotics and enzymes, and the business has attracted both food-industry and venture investors.