PHILADELPHIA, PA & MINNEAPOLIS, MN — SEMCAP Food & Nutrition has closed its inaugural Food & Nutrition fund with $125 million in commitments, marking a significant entry into a fast-evolving segment of the food industry shaped by health, sustainability, and changing consumer demand.
The debut fund attracted a mix of strategic investors and industry participants, including Fresh Del Monte, Farm Credit Canada, and Securian Financial through its Minnesota Life subsidiary, alongside food brokers and executives from SEMCAP-backed companies. The breadth of the investor base reflects growing confidence in the firm’s cross-border strategy and its focus on scaling established food and nutrition brands across North America.
Managing Partner John Haugen said the close was driven by momentum across SEMCAP’s existing portfolio and by investor alignment around the firm’s operating model. He pointed to strong brand performance as evidence that demand for better-for-you and sustainably positioned food products is translating into measurable growth.
With the fund’s close, SEMCAP Food & Nutrition’s assets under management now exceed $500 million. The firm has already invested in several recognizable food brands, including ALOHA, Fresh Prep, Good Culture, Kite Hill, and Purely Elizabeth. The new capital is expected to support additional investments in U.S. and Canadian companies, with an emphasis on expanding distribution and accelerating scale.
SEMCAP’s Food & Nutrition group is led by Haugen alongside partners Kate Storey and Ryan Newcom, operating from offices in both the United States and Canada. The strategy targets companies with at least $25 million in revenue that have demonstrated product-market fit and the ability to scale, particularly in categories aligned with health, wellness, and sustainability trends.
SEMCAP co-founders and co-chief investment officers Walter “Buck” Buckley and Cyrus Vandrevala sit on the investment committee, reinforcing a framework centered on operational involvement and long-term value creation. Buckley said the fund was created in response to what he described as overlapping food and health challenges in North America, creating an opportunity for investors and operators to back companies positioned to address those pressures.
As competition intensifies for high-growth food assets, the successful close of SEMCAP’s first dedicated Food & Nutrition fund signals continued investor appetite for platforms that combine sector specialization with operational depth, even amid broader uncertainty in private markets.
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