n. an investment firm run by the founders of Innocent smoothies has launched a £ 100 million fund to support new consumer brands.
“We’ll do everything from fintech to dog food,” said Richard Reed, JamJar partner and co-founder of Innocent Drinks.
This is the first fund with institutional support raised by JamJar. The British Business BankThe UK-run investment bank, is one of the largest backers with commitments of £ 48 million.
“This British taxpayer money will be used to create start-up prosperity and make money for taxpayers,” Reed said. “We have to do it right because it’s taxpayer money.”
Innocent co-founders Adam Baylon, John Wright and Richard Reed started their cocktail business from a kiosk in 1999, before becoming a global brand worth many millions of pounds.
The trio created JamJar after selling a majority stake in Innocent to Coca-Cola in 2013 for more than £ 500 million.
Since its launch, JamJar has been an early investor in several popular consumer brands, including DeliveryOatly and Tony’s Chocoloney.
Reed said: “We have created more consumer brands than any fund in London.
“When we sit in front of the founder, they start working with someone who has been there and done it. We really get involved in how things taste and smell. ”
“Some founders just want to call once a year. I whispered to others in my wardrobe on the phone at midnight on Saturday to talk to them about the idea. ”
JamJar boasts a 50:50 gender balance in its investment team and manages the share of profits for all team members.
Women occupy 51% of the highest paid jobs in Innocent, according to government data on the gender pay gap.
The founders of Innocent smoothie launch a new startup fund for 100 million pounds
Source link The founders of Innocent smoothie launch a new startup fund for 100 million pounds