Campbell Soup sells Acre Venture Partners fund stake

Jul 24, 2020 • Jordan Williams

Campbell Soup has divested its stake in the agriculture-focused investment vehicle, for which it was the sole limited partner, to StepStone Group.

US-based food product producer Campbell Soup has sold its stake in Acre Venture Partners, the venture capital firm it formed in 2016, to investment firm StepStone Group, AgFunderNews reported yesterday.

Campbell launched the vehicle with $125m of capital to invest in food and agriculture technology developers, and was its sole limited partner. It had invested $85m of at the time of the sale to StepStone, in May 2020, according to a regulatory filing.

Stepstone paid about $40m for Campbell’s…

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