Blueberry Ventures

Blueberry Ventures is a food and beverage-focused venture capital fund based in Tiburon, California, in the San Francisco Bay Area. Founded in 2015 by Arif Fazal, who holds an MBA from Stanford Graduate School of Business, the firm invests in innovative brands and business models across the food and beverage category, partnering with entrepreneurs building next-generation nutrition and consumer food companies. The fund has approximately $22 million in committed capital and targets a three-to-five-year investment horizon per position. Blueberry Ventures typically invests $1 million to $5 million per deal at seed and Series A stages. With 13 portfolio companies and 4 exits, the firm has backed some of the consumer packaged goods sector's most recognized emerging brands: Biena Snacks, Rhythm Superfoods, Ripple Foods, Revive Kombucha, Sufferfest Beer Company, Vive Organic, Fourth & Heart, Pique Tea, RightRice, Rae Wellness, Fish+People, Nutriati, and Austin Eastciders. Exits include Flying Embers in March 2024. The most recent investment was Austin Eastciders' Series F in December 2022. Blueberry Ventures combines early-stage capital with operational support for founders building consumer food and beverage brands in North America. Fazal's focus on innovative brands reflects a thesis that the most durable food companies are built around genuine product differentiation and category creation rather than incremental line extensions. The firm's concentrated, specialized portfolio allows it to bring category-specific expertise and a network of relevant retail, distribution, and strategic acquirer relationships to each investment.