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Venture capital firm hungers for health-foods startups
Santa Barbara-based venture capital firm NGEN Partners has a new investing focus on a somewhat unlikely sector: healthy, environmentally friendly food.
Since its founding in 2001, NGEN has had a focus on funding sustainability-oriented companies. Its early focus was on energy and materials. Catalytic Solutions, a nanotechnology firm spun out of UC Santa Barbara that made emissions scrubbing cheaper and more effective in automobiles, was an early investment. Soraa, an LED lighting firm created by several UCSB professors that has gone on to receive big money from Khosla Ventures and others, remains active in the firm’s portfolio.