TPP Capital Holdings (TPP), a Philadelphia based, Black-led social impact private equity fund manager and urban healthcare and real estate development firm dedicated to improving the health of residents in Black and Brown neighborhoods through improved access to healthy food, has announced the launch of an Urban Agriculture and Food Investment Fund of $20 million. The purpose of the fund is to make direct place-based private equity investments in agribusiness, agriculture, indoor vertical farms/greenhouses, farmland development, health-focused food and beverage enterprises with Black and Brown ownership located in federally qualified opportunity zones throughout the country in order to reduce health disparities and the disparate burdens of chronic medical conditions exposed by COVID-19 that disproportionately impact Black and Brown Americans.
Fund I, a growth capital vehicle, will target family offices, high-net-worth and ultra-high net worth individuals, professional athletes, celebrities, entertainers, and institutional investors. The Fund also expects to be an attractive investment vehicle for women and people of color who are interested in supporting enterprises with Black and Brown ownership participation.
“TPP principals has 25 years of food industry experience in food science, food ingredients, food processing, food technology, packaging, and food marketing. With strong relationships with food ingredient suppliers, food scientists, food companies, and food CEOs, and executives TPP is well position for success,” says Clinton Bush, TPP Capital Holdings Principal, and Co-Founder.
“One the keys to this raise are to align our Fund with patient capital that understands our quadruple bottom line approach of saving money on taxes against ordinary income or a recent capital gains event, sustainable and verifiable social and economic impacts along with financial returns to our investors,” says Anthony B. Miles, TPP Capital Holdings Principal, and Fund Manager of Tioga District Urban Agriculture OZ Fund. “In the middle of today’s public health crisis, our raise will allow us to provide scalable solutions and build back better – prioritizing health through stronger businesses and buildings in food and wellness desserts prevalent in Black and Brown communities in federal qualified opportunity zones.”
“TPP's investment in Vertical Harvest, and their food industry expertise that they bring will greatly expand our footprint and enable us to gain significant market share in a fast-moving vertical farming market that is rooted in our foundational values of inclusivity, sustainability, and community resilience," said Vertical Harvest CEO Nona Yehia.
