ReFED and Closed Loop Partners Announce $100M Funding Platform to Scale Food Waste Solutions with Funding from Google and The Betsy and Jesse Fink Family Foundation
NEW YORK, June 1, 2022 /PRNewswire/ -- ReFED and Closed Loop Partners are excited to partner on a new $100M Circular Food Solutions Funding Platform, a first-of-its-kind, blended finance investment and innovation platform to scale food waste reduction solutions by mobilizing critical capital into the sector. With an emphasis on catalytic funding, the platform is designed to provide private and philanthropic financing and other support for organizations, municipalities, and innovators that are developing solutions to help reduce the 35% of food that goes unsold or uneaten each year in the United States.
- The $100M Circular Food Solutions Funding Platform consists of three cross-cutting verticals an $80M investment fund, a $10M grant fund [the ReFED Catalytic Grant Fund ], and a$10M innovation program.
- The Platform has already attracted seed funders including Google and The Betsy and Jesse Fink Family Foundation.
- At the recent 2022 Food Waste Solutions Summit presented by ReFED, the first grantees in the ReFED Catalytic Grant Fund were announced.
- Leveraging ReFED's expertise on food waste data and solutions in the food waste space and Closed Loop Partners's experience as a circular economy-focused investment and innovation firm, the Funding Platform will drive much needed capital to develop and scale food waste solutions.