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§ Venture Capital · CO, USA
Venture capital firm investing in and supporting early-stage, better-for-you food, beverage, and CPG companies.
Boulder Food Group (BFG) is a venture capital firm based in Boulder, Colorado, and Los Angeles, California, that invests in early-stage consumer packaged goods, food, and beverage companies. The firm focuses on providing capital, channel development, and operational strategy to disruptive and socially conscious brands operating within the better-for-you supplement and consumer sectors. BFG manages significant capital across its investment vehicles, having closed its inaugural fund at $50 million and subsequently raising an oversubscribed second fund totaling $103.3 million. The investment team leverages decades of food industry experience to support entrepreneurs in achieving sustainable growth and scaling their retail operations. The firm's portfolio includes notable consumer brands such as Bobo's, Caulipower, and Birch Benders, alongside successful strategic exits like the sale of Chameleon Cold Brew to Nestlé. Boulder Food Group was founded in 2014 by Tom Spier.
Key people at Boulder Food Group (BFG).
Boulder Food Group (BFG) has 3 tracked investments across 3 companies. The latest tracked deal is $10.0M Series B in Quinn Snacks in July 2021.
| Date | Company | Round | Lead Investor(s) | Co-Investor(s) |
|---|---|---|---|---|
| Jul 1, 2021 | Quinn Snacks | $10.0M Series B | Christopher Ladd | Sunil Thakor, CFA, Echo Capital |
| Apr 1, 2020 | Fat Snax | $5.0M Series A | Boulder Food Group (bfg), Duane Primozich | — |
| Jul 1, 2019 | Bobo’s Oat Bars | $6.0M Series B | Boulder Food Group (bfg) | — |
Boulder Food Group (BFG) is a venture capital firm based in Boulder, Colorado, specializing in early-stage investments in high-growth consumer product companies focused on health and environmental sustainability. Founded in 2014, BFG partners with entrepreneurs building disruptive brands in the food, beverage, and consumer products sectors that prioritize better-for-you and better-for-the-planet products. The firm provides not only capital but also hands-on strategic support in operational strategy, marketing, channel development, organizational design, and capital planning to help portfolio companies achieve sustainable growth and market outperformance. Notable portfolio companies include Birch Benders, CAULIPOWER, and OLIPOP, reflecting BFG’s commitment to fostering innovation in natural and sustainable consumer products[1][2][3].
BFG was founded in 2014 by Tom Spier, leveraging over 40 years of combined experience in the natural products industry among its leadership team. The firm emerged from a deep understanding of the challenges in building differentiated consumer brands that deliver both financial returns and positive social/environmental impact. Over time, BFG has evolved to focus exclusively on early-stage consumer product companies that demonstrate a clear path to $1 million in trailing 12-month sales and align with its mission of sustainability and health. The firm’s evolution includes building strategic partnerships with major players in food and agriculture, such as Continental Grain Company and Rabobank, to enhance its network and support capabilities[1][3].
BFG rides the growing consumer trend toward health-conscious, environmentally sustainable products, a market force driven by increasing consumer demand for transparency, clean ingredients, and ethical sourcing. The timing is favorable as regulatory and social pressures push brands toward sustainability, and consumers increasingly favor better-for-you food and beverage options. By focusing on early-stage companies in this space, BFG influences the broader ecosystem by accelerating innovation and scaling brands that might otherwise struggle to access capital and expertise. Their involvement helps shape the future of consumer products toward sustainability and health, contributing to a more responsible food and beverage industry[1][3].
Looking ahead, BFG is well-positioned to capitalize on continued growth in the better-for-you and sustainable consumer products market. Trends such as plant-based foods, functional beverages, and clean-label products will likely shape their investment focus. As consumer preferences evolve, BFG’s hands-on approach and strong industry network will be critical in helping portfolio companies scale efficiently and sustainably. Their influence is expected to grow as they continue to back innovative brands that align with environmental and health priorities, potentially expanding their strategic partnerships and geographic reach to further impact the natural products ecosystem[1][3].
Key people at Boulder Food Group (BFG).
