It is with great pleasure that we can announce that FARE Capital has invested in The Good Spice.
The investment was pursued in conjunction with inventory finance provided by Invest International.
So far, the spice trade has been somewhat of an uncharted territory, in particular as far as sustainability is concerned. Lengthy, opaque supply chains and razor thin margins for local farmers are typical for this type of trade. As a result, many farmers turn to the use of pesticides and monoculture, in order to create sufficient volume and try to make ends meet on the short-term.
Subsequently, many spices are spending 2 years or more at sea or in storage, before making it to our kitchens. Given all the industrial treatment involved to extend that shelve life, you can imagine what this process does for the quality, the flavour.
Iona Mulder envisioned a need for chance and founded The Good Spice.
The Good Spice goes out there, sources the most flavourful and responsibly grown spices. The Good Spice engages directly with farmers, paying a fair price, thereby effectively eliminating the middlemen, saving time, preserving quality and flavour.
FARE Capital and The Good Spice have joined hands in developing a roadmap for setting specific impact goals and embedding this roadmap in the terms and conditions for the duration of the investment. As a result, the interests of both the investor and corporate are aligned and both are committed to stay the course as far as sustainability is concerned. If you are interested in learning more about this process, please let us know.
Matthijs Snijder (FARE Capital): “At FARE Capital we are looking for small, inspiring, yet sustainable businesses. When it comes to food-related investments, it is not just about the end product, we try to take the entire supply chain into consideration. Iona Mulder, Claudia Brown and Charis Heising make an excellent team. That, in combination with an honest (and flavourful) product and tremendous dedication, makes for a very relevant, yet appealing investment.”
Iona (Founder TGS): “It’s been two years since I first met with Matthijs and FARE Capital. This was in a very early stage of The Good Spice, however they saw the potential of it and my determination to make it happen. It was soon decided that FARE Capital would sponsor my trip to Hungary in search of the best paprika powder. This early confidence has been a huge help in building The Good Spice, which is why I’m so happy we’re taking the next step in our partnership!”