Rihanna Invests In Black Female-Founded Snack Company “Partake Foods”
Black female-founded snack company Partake Foods is starting the new year with a bang! With the help of celebrity investors such as singer/entrepreneur Rihanna, the allergy-friendly/vegan food brand closed a $4.8 million series A funding which will help contribute to operations, product manufacturing, marketing, distributing and more.
This investment by Rihanna marks her first investment beyond her own personal ventures, which include make-up line Fenty Beauty, lingerie line, Savage x Fenty, and a Fenty fashion line. Reportedly, over half of Partake Food’s funding came from black investors which was done intentionally, according to CEO and Founder Denise Woodward. She says,
“That was very deliberate. I feel very passionate about continuing to increase wealth in the Black community wherever possible and so having investors on board that understand those missions and goals is really important to me.”
According to Forbes, other celebrity investors include rapper/mogul Jay-Z’s Marcy Ventures Partners (MVP), former NBA player Kevin Johnson’s Black Capital, Seattle Seahawks’ Bobby Wagner, and Grammy Award-winning singer H.E.R.
Denise Woodard is the first woman of color to raise $1 million for a food startup. In 2020, Partake Foods opened approximately 350 stores and plans to grow to 5,500 by the end of 2021.
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