JamJar boasts a 50:50 gender balance in its investment team and operates a profit-share for all team members.
(Picture: JamJar)An investment firm run by the founders of Innocent smoothies has launched a £100 million fund to back new consumer brands.
London-based venture capital firm JamJar will make early-stage investments of £500,000 to £3 million to help European start-ups launch new consumer products.
“We’ll do everything from fintech to dog food,” said Richard Reed, JamJar partner and co-founder of Innocent Drinks.
It is the first institutionally-backed fund raised by JamJar. The British Business Bank, the UK government-run investment bank, is among the largest backers with a £48 million commitment.
“It’s British tax payer money that’s going to be used to create a flourishing of start-ups and make money for the tax payer,” Reed said. “We’ve got to get this right because it’s taxpayers money.”
Innocent co-founders Adam Balon, Jon Wright and Richard Reed launched their smoothie business from a market stall in 1999 before growing it into a global, multi-million pound brand.
The trio set up JamJar after selling a majority stake in Innocent to Coca Cola in 2013 for over £500 million.
Since its launch, JamJar has been an early stage investor in several popular consumer brands including Deliveroo, Oatly and Tony’s Chocoloney.
Reed said: “We’ve done more consumer brands start-ups than any fund in London.
“When we’re sat in front of a founder they get to work with someone that’s been there and done it. We really get involved with how things taste and smell.”
“Some founders just want to have a call once a year. With others I have been in my wardrobe whispering over the phone at midnight on a Saturday to chat through an idea with them.”
JamJar boasts a 50:50 gender balance in its investment team and operates a profit-share for all team members.
Women occupy 51% of the highest-paid jobs at Innocent, according to government gender pay gap data.
