VGC Partners have invested a £4.8 million into Sproud. A huge step forward!
Here’s what our co-founder and Chairman of the Board, Nicklas Jungberg had to say!
“We are really pleased to have the backing of VGC on our mission to create the best tasting, and most sustainable plant-based offering on the market. We have reached a stage where most people are now aware of the positive impacts that swapping dairy for vegan substitutes would have on our planet and health.”
“What’s left is for consumers to truly act on this, but we don’t think forcing people to change their food preferences is the way forward. By matching the tastes that they are used to, and the nutritional content typically provided through dairy products, we know that we can make a huge impact, and with the support of Parminder and his incredible team, we feel confident that positive change can now be achieved faster, and on a much greater scale.”
Who are VGC Partners?
Founded in 2011 by its Managing Partner, Parminder Basran, London-based VGC Partners is a growth capital investor specialising in innovative early-stage consumer, media and tech companies. The firm has seen enormous potential for investing in the next generation food and beverages space in recent years, with portfolio companies including JUST a plant-based alternative to eggs, and Ugly Drinks, a producer of zero-sugar sparkling water and energy drinks.
This is what Parminder Basran, Founder and Managing Partner at VGC Partners said:
“Through our experience of backing innovative food and drink brands, we have a deep understanding of the plant-based market, including from the perspective of evolving consumer demands and the cutting-edge product innovation that is catering to this. We believe Sproud has the potential to become a global leader in the huge and growing dairy alternative market, owing not only to its superior taste and nutrition profile, but also due to its positive environmental and sustainability credentials.”
A Great moment for Sproud!
As you can imagine everyone in the company is over the moon at this exciting news. Since our creation in 2018 we have set out to achieve a simple goal: to create the best tasting, most sustainable and nutritious plant-based alternative. As you can imagine taking on a task of that enormity comes with a multitude of different challenges and difficulties but is something we, at Sproud, are always working towards. This investment represents the fantastic effort put in and highlights the continued growth and progression towards achieving that goal over the last few years.
It’s a true testament to the incredible work done by our founders and everyone else who has worked for, followed and supported our journey. Especially our customers who we are extremely grateful for and without whom none of this would be possible. We hope to look back at this moment as one of the defining moments in the story of Sproud, and we can now really propel ourselves to the next level!
By Alex Forbes and Amanda Wirhed