ImpactAlpha, May 5 — Oakland, Calif.-based Something Better Foods aims to make plant-based food affordable and accessible, particularly Black and Brown communities.
The Black-owned company develops plant-based proteins, including meatballs, steak, fried fish and chicken for chefs and restaurants under the Better Chew brand.
It has secured $500,000 from ICA to “provide meaningful employment opportunities for the local community,” says Chef GW Chew.
Oakland’s ICA is a community development financier that invests in companies working to close the racial and gender wealth gap.
The investment in Something Better Foods was made via the nonprofit’s ICA’s Growth Fund, which makes growth equity investments within the range of $100,000 to $1 million in the Bay Area.