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In Session

Patient capital: Taking the slow road

In this Natural Products Expo East 2018 discussion moderated by New Hope Network’s Carlotta Mast, Bias & Blind Spots’ Douglas Raggio and The FRESHGLOW Co.’s Kavita Shukla share their insights into an alternative approach for funding long-lasting iconic brands.

“As a founder, get to know what you want as a company…if you want to have some longevity—I call it integrity of ‘people, product and community’—it’s going to take longer than five years to do something meaningful.”

— Douglas Raggio, Bias & Blind Spots

Part 1: Introduction and backgrounds


  • Doug: I believe we should have independent food companies.
  • Doug: There are thousands of founders who don’t want to sell their businesses in 3-5 years.
  • Kavita: I feel like an accidental entrepreneur who had a lifelong obsession with spices and botanicals.
  • Kavita: We lose more than one-third of our world’s entire food supply to spoilage.


Part 2: Doug—Family offices and equity lines


  • Every investor is looking at risk and return, and they all look at it differently.
  • Private equity and venture capital are playing a portfolio strategy; family offices have a different strategy: no exit required.
  • It’s shocking how little track record is needed to get the tide to turn.
  • A family will look at things like a bank.


Part 3: Kavita—the funding journey and end goal


  • We’ve been fortunate to have tremendous grassroots traction; we’re still 100% privately owned.
  • We relied heavily on retail partners to help us out; the market right now is really conducive to that, everyone wants innovation.
  • The Internet is an incredibly powerful tool for raising cash really quickly (Shopify example).
  • It’s not immediately a barrier if you can’t raise tons of funding.


Part 4: Q&A


  • How to bring on a co-founder and share your vision.
  • Questions to ask potential funders.
  • Advice for types of multiples.

This session—The Funding Forum: Growing a Healthy Brand - Funding Alternatives That Create Iconic, Independent Brands —was recorded at Natural Products Expo East 2018.

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