Vail investment firm Manna Tree Partners today announced it has raised $141.5 million for its first fund to invest in companies focused on human health and wellbeing.
Manna Tree was founded in 2018 by Gabrielle Rubenstein, Ross Iverson and Brent Drever, and has made four investments to date.
The Manna Tree Partners Fund I will support startups in the health and wellbeing space, especially those focusing on nutrition, research and functional health.
"Demand for healthy food is rising dramatically. This fund will enable us to support and grow companies that produce, process and distribute healthy food," CEO Gabrielle "Ellie" Rubenstein said in a statement. "We are grateful to our investors for their confidence and commitment. We are proud to partner with sophisticated investors from around the world who agree that now is a great time to invest in companies that promote nutrition and the concept of food as medicine."
In total, 131 investors in 18 countries from around the world committed capital to Fund I, including private wealth managers, corporate venture partners, family offices and high net worth individuals. Women represent 30% of the investors in the fund.
The company plans on making an additional six to eight investments in this first fund, Chief Investment Officer Ross Iverson said.
"We are pleased with our investments to date, four companies focused on nutrition and a healthy food supply chain," Iverson said in a statement. "We see significant on-going opportunity in the health and wellbeing sector as consumers are becoming more educated on the pillars of optimal health and longevity."
Manna Tree Partners has invested in four companies to date as part of the fund:
Vital Farms: A brand of pasture-raised eggs that support small farmers and the healthiest animal welfare standards in the industry.
MycoTechnology: Sugar inhibitor ingredient company using mushroom protein to create healthier consumer products.
Nutriati: A developer and manufacturer of proprietary plant-based ingredients, including protein, flour and oil to elevate protein levels through a gluten/allergy free product.
Verde Farms: A provider of industry leading environmental practices, and healthy 100% grass-fed, 100% pasture-raised, organic beef for retail, club and foodservice customers.
