Little Leaf Farms has raised $300 million in new capital to support the growth and expansion of farms and distribution. Immediate expansion and a doubling of acreage come with the opening of a new greenhouse in McAdoo, Pennsylvania, this summer.
The Rise Fund, founded in 2016 by TPG in partnership with Bono and Jeff Skoll, brings an unrivaled ability to help businesses grow and achieve long-term success. With its focus on investing in mission-driven companies with measurable social and environmental impact, The Rise Fund's investment in Little Leaf Farms underscores the increased consumer interest and demand for sustainably grown produce and supports Little Leaf Farms' mission of fresh, leafy greens for all. As part of this transaction, Maya Chorengel, Co-Managing Partner of The Rise Funds, will join Little Leaf Farms' Board of Directors.
Little Leaf Farms' greenhouse
"This funding from our partners at The Rise Funds and Bank of America marks a pivotal moment in Little Leaf Farms' growth story," said Paul Sellew, Founder and CEO of Little Leaf Farms. "We've seen, especially in recent years, how important locally grown food is to communities, and we're proud to bring customers the freshest leafy greens that are harvested with 90% less water than conventional lettuces and shipped in less than 24 hours. With this funding, we're transforming the way millions of Americans eat and enjoy leafy greens, no longer relying on choices that have traveled thousands of miles across the country to reach them."
"Little Leaf Farms is driving significant efficiency improvements in the growing process for leafy greens by meaningfully reducing water usage and greenhouse gas emissions at scale. The company's mission to deliver local and sustainably grown lettuce year-round is well-aligned with The Rise Funds' goal to accelerate the growth of companies that are meeting large-scale environmental and social problems with innovative solutions," said Ms. Chorengel. "With this investment, we're proud to extend Little Leaf Farms' leadership in the market as it scales its business and continues to offer the best quality, reliability, and consistency to a growing customer base."
Little Leaf Farms' varieties in Baby Crispy Green Leaf, Baby Red & Green Leaf, & Baby Spring Mix
"Little Leaf Farms is not only providing fresh, sustainable regional produce, but it is also redefining local agriculture and building more sustainable solutions in our local communities and in the industry," said Randy Mitchell, Sr. Relationship Manager for Bank of America. "By investing in companies like Little Leaf, we're helping to scale more low-carbon solutions."
For more information:
Little Leaf Farms
P.O. Box 2069
Devens, MA 01434
844-LIL-LEAF (844-545-5323)
[email protected]
www.littleleaffarms.com