Little Leaf Farms Announces Equity Financing Led by TPG
Gunderson Dettmer represented client Little Leaf Farms, a producer of sustainably grown lettuce through controlled environment agriculture, in equity financing led by The Rise Fund, TPG's multi-sector global impact investing strategy. Little Leaf Farms uses advanced technologies to grow lettuce in greenhouses which utilizes solar-powered energy for soil-less hydroponic farming. The new capital will support Little Leaf Farms’s plans for expansion in order to make its product more accessible.
In the announcement of the transaction, Founder and CEO of Little Leaf Farms Paul Sellew said, "This funding from our partners at The Rise Funds and Bank of America marks a pivotal moment in Little Leaf Farms' growth story. We've seen, especially in recent years, how important locally grown food is to communities, and we're proud to bring customers the freshest leafy greens that are harvested with 90% less water than conventional lettuces and shipped in less than 24 hours. With this funding, we're transforming the way millions of Americans eat and enjoy leafy greens, no longer relying on choices that have traveled thousands of miles across the country to reach them."
The Gunderson deal team was co-led by Jay Hachigian and Laura Stoffel.