DMG Ventures backs ‘mindful drinks’ with TRIP and Blue Stripes as it sets up two new £25m funds
- DMGT venture capital arm focuses on growing consumer companies in the US and Europe
DMG Ventures has launched two new £25m funds targeting high-growth start-ups in Europe and the US.
The venture capital investor, whose parent company is MailOnline and This is Money owner DMGT, plans to make up to ten investments a year, reflecting growing confidence in the consumer sector start-up.
DMG Ventures’ Headline fund will support the investor’s existing strategy of taking small companies from Seed, a company’s first fundraising round, to Series A, a more advanced stage but still an early investment round.
The £25m Scale Fund will enable established consumer brands to accelerate growth by working with DMGT’s media titles including This is Money, MailOnline, the Ny Breaking and Mail on Sunday, i, Metro and the New Scientist.
And the Scale fund has already transferred investments to CBD-infused mindful drinks group TRIP and cocoa brand Blue Stripes.
Mindful drinks: TRIP is in a fast-growing sector and has seen turnover grow by 50% per year
Within a £166 million ‘functional drinks market’, where drinks with health benefits are sold, TRIP has seen sales grow by more than 50 percent per year since its launch, becoming the largest UK brand in its category.
New York-based Blue Stripes, which has products in more than 1,500 U.S. stores, is tackling waste in the chocolate industry by upcycling discarded cocoa fruit into new products such as drinks, snacks and granola.
Rachel Muzyczka, partner at DMG Ventures, said TRIP and Blue Stripes represent “two of the best emerging food and beverage brands globally.”
She added: “TRIP is one of the most notable start-ups we’ve seen, while the Blue Stripes team is second to none.
“We will put the full weight of our media brands – and their vast global audiences – behind TRIP and Blue Stripes.”
DMG Ventures aims to capitalize on a “radical shift in consumer behavior, fueled by the rise of generative AI, the push for environmental sustainability and consumers’ growing desire for memorable experiences.”
Since launching in 2018, it has backed 29 consumer-facing startups, including toothbrush brand SURI, racing simulator concept F1 Arcade and investing and savings app Plum.
Manuel Lopo de Carvalho, managing partner of DMG Ventures, said: “Our unique investment strategy makes us ideally placed to seize opportunities from what we believe will be a transformational shift in the consumer sector.”
TRIP and Blue Stripes welcome investments
Blue Stripes tackles waste in the chocolate industry
James Edmunds, managing director of TRIP, said: ‘We are delighted to be working with dmg ventures and DMGT’s news titles, with their colossal global readership of 160 million per month.
“We can’t wait to bring TRIP’s unique products to even more consumers in Britain and expand our footprint elsewhere.”
Oded Brenner, Founder and CEO of Blue Stripes, said: “We are excited to partner with dmg ventures and look forward to leveraging its media partner’s massive US reach of 60 million consumers per month.
“DMG Ventures brings a unique proposition to the table around its media expertise and reach, and we are excited to add them to our mix of key, strategic investors.”
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