A Dohmen Co. Foundation’s investment fund has provided $15 million to a Los Angeles company with a mission of making healthy food more accessible.
That represents the first funding pledge under the Milwaukee-based foundation’s Dohmen Impact Investment Fund. It fits into Dohmen Co. Foundation’s broader push to improve public health and address health disparities by making nutritious food more available. The foundation in September pledged $75 million toward that effort.
Dohmen’s fund launched in March, and on Wednesday it announced the $15 million capital investment into Everytable. The Los Angeles company founded in 2016 sells fresh-prepared foods through stores and delivery services, pricing products based on the neighborhoods in which they are sold.
“We encourage other foundations, socially conscious businesses, and investors to join us in prioritizing investments in healthy food solutions, such as Everytable, to address the growing diet-related disease epidemic,” said Rachel Roller, Dohmen president and CEO.
Everytable has nearly 50 retail locations, with plans to open 25 more by the end of 2023. Dohmen's investment led a $25 million Series C-2 preferred stock offering to expand its retail presence in southern California, the Bay Area and New York City.
Everytable founder and CEO Sam Polk said the investment points to Dohmen's "shared mission to make nutritious food accessible to everyone, everywhere. The continued commitment from our investors, despite a steep decline in venture funding overall, speaks volumes about their confidence in our ability to address one of the most pressing and persistent issues of our time."
Other investors contributing to Everytable are international investment company Creadev with an office in New York City, for-profit investor Gullspång Re:foods with offices in Stockholm and San Francisco, and health care venture investor Kaiser Permanente Ventures of Oakland.
