A black female-founded vegan cookie company has raised $4.8 million in funding from investors that include Rihanna, Jay Z’s Marcy Venture Partners and Seattle Seahawks’ Bobby Wagner. Other investors include Kevin Johnson’s Black Capital, Black Star Fund, John Foraker, CircleUp Growth Partners and FF2032.
Over half of the funding is from black investors; the funding will contribute to product manufacturing, marketing, distributing, operations and help expand Partake into over 5000 Target stores by the end of 2021.
Partake Foods Founder and CEO Denise Woodard said in a statement: “I feel very passionate about continuing to increase wealth in the Black community wherever possible and so having investors on board that understand those missions and goals is really important to me.”
Speaking about the journey to her success, Denise said, “I sold cookies out of my car up and down the street in New York every single day. I drove to natural food stores and did demos every single day.
” There’s so much of a longer grind. I say that to say that if I can figure this out and get here, anyone can.”
This investment is also Rihanna’s first investment outside her personal ventures of Fenty Beauty, Savage x Fenty, and a Fenty fashion.