TORONTO — District Ventures Capital, a venture capital fund investing in the food and beverage and health and wellness sectors, has closed an equity investment with OHi Food Co., Costa Mesa, Calif. Financial terms of the investment, which is expected to boost OHi’s growth through marketing support, business development and commercialization services, were not disclosed.
Founded in 2013 in Maui, Hawaii, by Dawn Anderson, OHi offers a line of refrigerated plant-based bars. The company’s products include five bar varieties: coconut macadamia, almond crunch, Super Green, double chocolate, and soon-to-launch peanut butter.
All of OHi’s products are Non-GMO Project verified, certified grain- and gluten-free, vegan, low-glycemic and free of soy, dairy, artificial ingredients and refined sugars.
“We are excited to have created an innovative superfood bar that offers consumers something unique in the expanding refrigerated fresh snacking category,” Ms. Anderson said. “We are thrilled about our partnership with District Ventures, as we have already witnessed growth tied directly to their investment.”
Arlene Dickinson, general partner at District Ventures, added, “Today’s consumer is much more sophisticated and educated than they have ever been. They seek products which not only satisfy their taste buds but have health benefits — both qualities that OHi superfood bars possess. OHi’s superfood bars are one of the very few ‘real’ innovations we’ve seen from the energy bar category in a long time, and we are thrilled to be able to aid their growth.”
In addition to OHi, District Ventures also has investments in Chickapea, Maze Bar and Prairie Fava.