Our focus is on profitable growth and legacy companies — advising family offices and middle-market acquirers through the fallout of short-sighted VC and PE investments in food & beverage.
After taking VC and Private Equity capital, many founders find themselves looking to buyout these same investors within a few years.
However, making the transition from a growth/exit strategy to a suitable/profit-driven company, isn’t easy — this is where we operate.
For family offices, we focus on building sustainable cash flow — generating returns for decades that align with the goals of investors who seek sustainable, long-term returns and a positive impact on our food supply.
By aligning with founders’ long-term interests, we gain access to companies other investors can’t reach — at a risk profile that looks a lot more like debt.
“Recapitalizations and divestitures are the real opportunity for family offices in food & beverage.”
— Douglas Raggio, managing Partner
We choose to no longer participate in a system that sacrifices the many for the few and contributes to a negative ripple effect throughout our industry — thus, Bias & Blind Spots’ focus on profitability and value retention.
Bias & Blind Spots was born from an early-stage VC fund, Gastronome Ventures, which was the 3rd venture fund to address the financing gap in food & beverage (that we’re aware of). This was nearly a decade ago, before a few large acquisitions resulted in capital flooding the industry and driving valuations to problematic levels.
Turns out, consolidation sucks (i.e. exits). Visionary founders need capital to sustain and grow. Too often, by taking VC or Private Equity, their businesses wind up in the hands of the multinationals these founders set out to eliminate in the first place.
When these short-term investments fail (98% of the time) the companies are sadly written off. It doesn’t have to be this way.
of founders prefer long-term investment, but are uncertain how to attract family offices.
of VC/PE investments fail to reach meaningful exit, thus creating opportunities to pick up early divestitures.
current opportunities for recapitalizations driven by founders looking to adjust for profitability.