Why we invested in 99 Counties
We are thrilled to announce our latest investment in Chicago-based 99 Counties, a direct to consumer e-commerce platform rooted in regenerative agriculture. We invested alongside OMERs, Google Ventures, and Union Labs.
Here’s why we invested:
Regenerative agricultural systems — those where animals are raised in harmony with nature — drastically reduce greenhouse gas emissions, rebuild top soil, reduce the harmful impacts of nitrogen runoff into water systems, increase biodiversity, and so much more.
The U.S. based market for meat is $170BN and growing. We need multiple paths to address the climate and environmental crisis in our food system. This will realistically require regenerative solutions alongside innovations in meat-alternatives and the transition to a more plant centric diet.
The re-regionalization of food systems is critical for a number of socio-economic issues including increasing food security, assuring supply chain integrity, and building intergenerational wealth. 99 Counties is starting in Iowa, where they aim to support regenerative farmers in each of the 99 counties in the state. Midwest bred and raised meat will be sold in the Midwest only, and as the model expands, so will the regional supply chain.
The founding team is top notch. 99 Counties builds its supply chain on 7th generation Iowan farmer Nick Wallace’s visionary work to transition his own family farm to regenerative methods after his own personal health crisis with cancer. Nick’s deep farming roots, combined with CEO Christian Ebersoll and CTO Mike Adkin’s venture and tech backgrounds, make for a potent founding team.
Read more about 99 Counties in TechCrunch: 99 Counties taps regenerative agriculture trend for meat marketplace