Fundraising Fox

SUPPLY CHANGE CAPITAL

Venture capitalActively deploying

Chicago · Pre-Seed–Series A · 90 people tracked

Also known as SUPPLY CHANGE CAPITAL MANAGEMENT LLC

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Investment thesis

Supply Change Capital backs foundational technology reshaping the food systems of tomorrow, targeting an industry it views as overdue for modernization. The firm invests early across the food supply chain — from logistics and automation to predictive tools and ingredient intelligence — funding systems that improve how food moves, scales, and nourishes. Its team draws on operational and technical experience ranging from scaling startups to leading supply chain transformation within Fortune 100 companies, and it seeks opportunities in areas of complexity where it can help founders gain traction more quickly and efficiently.

Source: firm website, verified Aug 7, 2026.

Stage
Pre-Seed–Series A
Check
$200K – $1M
HQ
Chicago, California, US
Leads rounds
Follows
Instruments
Equity
Founded
2020
Last 12 months
1 investment
AUM
$40M
VC funds
3
Tracked investments
65

Team · 90 people

from the firm's website
Alice Wangin
Aliya Lakhanin
Ben Steingoldin

Supply Change Capital Fellow; affiliated with University of Chicago Booth School of Business.

Chassitty Saldana· Marketingin

Handles marketing at Supply Change Capital.

Grace Weinstock· Operations and Impactin

Works on operations and impact at Supply Change Capital.

Jeff Zhengin
Karen Shiin

Supply Change Capital Fellow; affiliated with MIT Sloan School of Management.

Lori DeLuca· Chief Financial Officerin

Chief Financial Officer at Supply Change Capital.

Maria Juurin

Supply Change Capital Fellow; affiliated with UCLA Anderson School of Management.

Mike Brennan· Board Member, Advisor, COOin

Advisor and President at Farmer's Fridge and former COO of Peapod.

Nisha Patelin
Nissa Zafar-Khanin
Olivia Mattain

Supply Change Capital Fellow; affiliated with University of Southern California.

Rachel Stinebaugh· Investment Teamin

Member of the investment team at Supply Change Capital.

Sara Duganin

Supply Change Capital Fellow; affiliated with MIT.

Sushmita Mukherjeein
Vanessa Rasanen· Executive Assistantin

Executive Assistant at Supply Change Capital.

Xinlei Baiin

What they invest in

from 13 of 65 portfolio companies

FoodTech ×5AgTech ×3Fintech ×3Logistics & Supply Chain ×3SaaS ×3Biotech ×2Circular Economy ×2Cleantech ×2

HQs:United States×12

Investments · 65 tracked

founders shown can be your intro path

By year:2026 · 12024 · 12023 · 24 dated

PartnerSlatepartnerslate.cominJun 2023

Encinitas, US

Matthew Suggs(President, Treasurer, Secretary, Chairman of the Board)Vincent Tseng(CEO)

Board seatShayna Harris· per SEC Form D

Peltier Technology Inc.Mar 2026SEC filingmedium confidence

San Francisco, US

Hanson Li(Executive Officer, Director)

BoardJoseph Hei(Director)

Board seatNoramay Cadena· per SEC Form D · $7.9M raise · filed Mar 2026

Terranticterrantic.comJun 2024

Seattle, US

Shruti Gandhi(Director)

BoardTrevor Cox(Director)Krishna Srinivasan(Executive Officer, Director)

Board seatNoramay Cadena· per SEC Form D

99 Counties99counties.com𝕏

99 Counties sells regeneratively farmed meats — grass-fed and grass-finished beef, bison, and lamb, plus pasture-raised pork, chicken, and turkey — sourced from small family farms in the Midwest.

Direct to ConsumerE-commerceFoodTechKeystone, US

MICHAEL ADKINS(Executive Officer, Director)MICHAEL YANG(Director)NICHOLAS WALLACE(Executive Officer, Director)

BoardCHRISTIAN EBERSOL(Executive Officer, Director)

Akash Nandi
Alveoalveotechnologies.comin

Alveo Technologies develops a portable molecular testing platform that delivers rapid pathogen detection in under one hour at the point of need, with initial focus on avian influenza testing for poultry farms and agricultural operations.

AgTechBiotechHealthtechMedical DevicesAlameda, US

Isaac Blech(Director)Robin Steele(Director)Michael Aicher(Executive Officer, Director)Ron Chiarello(Executive Officer, Director)Lawrence Blatt(Director)

Andee Wallace

Unlocking revenue for businesses with an upgraded checkout, allowing for same-day, scheduled, and recurring orders all in one seamless menu experience.

Andrés Ornelas Vargas
Anthony Prats

SaaS platform harnessing AI to transform supply chain data into actionable insights for the agriculture industry.

AquaCultured Foodsaquaculturedfoods.com

Creates whole-muscle cut seafood alternatives including calamari, shrimp, scallops, and tuna.

Chicago, US

Anne Palermo(Executive Officer, Director)Brittany Chibe(Executive Officer, Director)

BoardJohnny Ream(Director)

Belinda Tan
Cargologikcargologik.comin𝕏

Cargologik offers a logistics software platform for supply chain visibility, freight forwarding, and operations management, serving logistics service providers (LSPs), freight forwarders, and beneficial cargo owners (BCOs).

Cloud ComputingEnterprise SoftwareLogistics & Supply ChainSaaS

Celleste Biocelleste-bio.com
Charles Julius
Christian Ebersol

Changing agricultural methods by building vertically-integrated platforms for regenerative farmers, entrepreneurs, and consumers – to produce healthy nutrient-dense foods.

Compound

Recreates coffee without coffee beans, delivering the same taste, aroma and effects with a fraction of the environmental footprint.

Compound Foodscompound-foods.comin

Compound Foods develops alternative coffee and cocoa ingredients made from upcycled, climate-resilient sources to address supply chain volatility and environmental impact of traditional coffee and cocoa production.

Climate TechFoodTech

Maricel Saenz(Founder)in

Dávid Pardavi
Denise Woodard
Dr. Hanne Volpin
Eden Canlilar
Erik Tyrell-Knott
Food Healthfoodhealth.co
Food Ready

Food safety automation and accessible software for food and beverage companies of all sizes.

Chicago, US

Gerald Galloway(Executive Officer, Director)William Metz(Executive Officer, Director)David Seddon(Director)

Francisco Martin-Rayo
Gabriel de Godoy

Supply chain platform providing end-to-end visibility and collaboration for cargo logistics providers.

Gerry Galloway
Helioshelios.scin

Aggregates billions of data points to give the food industry a real-time view into climate, economic, and political risks affecting suppliers, using AI.

Hyfefoodshyfefoods.comin
Jason Kim

Personalized online supermarket empowering people to make food choices that align with their health needs and values.

Jason Pesek
Joinlassojoinlasso.comin

Lasso is a platform that helps farmers find, apply for, and receive grant funding for on-farm projects by scanning federal, state, regional, and local funding sources and managing the application process.

AgTechFintech

Jon Carter

Clinical research platform that generates health impact evidence of better-for-you products through fast, regulatory-grade studies.

Jorge Ayala
Kadeyakadeya.comin𝕏

Kadeya operates a closed-loop beverage dispensing system that bottles drinks on demand in workplace settings and collects bottles for cleaning and reuse, eliminating single-use plastic waste.

Circular EconomyCleantechClimate TechConsumerFoodTechImpact & Social GoodChicago, US

Manuela ZoninseininAli Rose van OverbekeinAndrew Dunn(Director)

BoardZachary Smith(Director)

Krishna Srinivasan

A workforce optimization platform for labor-intensive industries, unlocking mobility & earnings potential for frontline workers while providing traceability & predictability for operators.

Mahendra Rajan
Manuela Zoninsein
Maricel Saenz

Recreating coffee minus coffee beans, with the same taste, aromas and effects but a fraction of the environmental footprint.

Matt Suggs
Michal Beressi Golomb

A cocoa technology company that has developed a plant cell culture platform to produce chocolate ingredients without trees.

Michelle Ruiz

Transforming food processing wastewater into feedstocks for biomanufacturing and clean water.

Michromamichroma.coin𝕏

Produces natural ingredients such as food colorants from fungi biofactories using upcycled agricultural waste.

Nicole Rojas
Noah Craft
Oskyin𝕏

Bitly provides a unified platform for URL shortening, QR code generation, and landing page creation with advanced analytics and tracking capabilities.

FintechMarketing TechSaaSBrooklyn, US

Partake

Offers allergy-friendly, better-for-you foods made in allergen-free facilities; founded by a Black woman.

Partake Foodspartakefoods.com

Partake Foods makes allergy-friendly cookies and snacks designed for people with dietary restrictions including common allergens like peanuts, tree nuts, and shellfish.

Direct to ConsumerFoodTechNew York, US

Denise Woodard(Sole manager.)

Peltierpeltierpro.com

Peltier builds solid-state, refrigerant-free cold storage units (the Peltier Tote) with tri-temperature control down to -22°C, connected to a cloud platform for real-time monitoring of each unit.

CleantechHardwareLogistics & Supply Chain

People Sciencepeoplescience.healthin
Pradogetprado.comin

All-in-one checkout and inventory platform enabling same-day, scheduled, and recurring orders to bring fresh, produce-rich food to diverse communities.

Ricky Cassini
Robigorobigo.bioin

Robigo develops engineered microbes that target plant pathogens to protect crops from pest and disease damage.

AgTechBiotech

Sam Citro Alexander

A nutrition technology company leveraging its proprietary FoodHealth Score to empower individual nutrition choices for improved health outcomes.

Shaun Holt

Molecular diagnostics platform for early pathogen detection across animal, environmental, and human health applications.

Slava Elagin
Supplypaysupplypay.io

Supply Pay offers a platform for cross-border supply chains that combines shipment coordination among buyers, sellers, brokers, and carriers, invoice and order financing, and multi-currency accounts.

FintechLogistics & Supply ChainSaaS

Tendreltendrel.ioOct 2023

Tendrel is a manufacturing operations platform that connects existing plant systems (MES, CMMS, historians, quality systems) and uses AI to answer operational questions and flag production issues before they cost the business.

Advanced ManufacturingAI & Machine LearningData & InfrastructureSammamish, US

Esteban Reyes(Director)Karsten Kell(Executive Officer)Mark Keller(Executive Officer, Director)

BoardAkash Nandi(Executive Officer, Director)

Trevor Cox
Upcycled Food Associationupcycledfood.orgin

Upcycled Food Association (UFA) is a global membership-based trade association that supports companies, nonprofits, academics, and individuals across the food supply chain working to prevent food waste by growing the upcycled food economy.

Circular EconomyFoodTechImpact & Social Good

Rows marked “SEC filing” are inferred from directors named on the company's SEC Form D — public regulatory data, not a portfolio list published by the firm.

Portfolio news

latest coverage across their companies

Frequently asked questions

What stage does SUPPLY CHANGE CAPITAL invest at?
SUPPLY CHANGE CAPITAL invests at the Pre-Seed, Seed, Series A stages.
What is SUPPLY CHANGE CAPITAL's typical check size?
SUPPLY CHANGE CAPITAL typically writes checks of $200K – $1M.
What sectors does SUPPLY CHANGE CAPITAL focus on?
SUPPLY CHANGE CAPITAL focuses on AgTech, AI & Machine Learning, Biotech, Climate Tech, Consumer, FoodTech, Impact & Social Good, Logistics & Supply Chain, SaaS.
Where is SUPPLY CHANGE CAPITAL located?
SUPPLY CHANGE CAPITAL is headquartered in Chicago, US.
Does SUPPLY CHANGE CAPITAL lead rounds?
SUPPLY CHANGE CAPITAL typically participates in rounds rather than leading them.

Media · Podcasts & interviews

featuring the team

Noramay Cadena. Managing Partner en Supply Change Capital #ftalks23LATAM

KM ZERO Food Innovation Hub · Noramay Cadena

Let's Build Live: App Building in Interfaces

Airtable

Get Started in Airtable

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Warner Music Group: How AI Agents Are Transforming Creative Operations at Scale

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Live Build: Deploying a Real AI Agent for People, Inc. — On Stage, Start to Finish

Airtable

Daily Mail: Deploying Editorial AI Agents in a Live Newsroom

Airtable

Images

SUPPLY CHANGE CAPITAL photo

Co-investors · 29

Backstage Capital

Backstage Capital is a venture capital firm focused on supporting underrepresented founders.

Both backed · 1
$50K
Chingona Ventures

Chingona Ventures is an early-stage venture firm backing founders building businesses in rapidly changing, often overlooked growth markets.

Both backed · 1
$250K – $2M
Sequoia Capital

Sequoia Capital is a venture capital firm that partners with founders to build technology companies, with a strong current focus on artificial intelligence.

$4.4M – $214M
Everywhere Ventures

Everywhere Ventures is an early-stage venture firm that backs founders globally, supported by a community of founders and operators as LPs.

$250K
Spark Capital

Spark Capital is a venture capital firm that backs founders across technology and consumer companies; it notably led Twitter's Series B in 2008.

$500K – $25M
SOSV

SOSV is a deep tech venture capital firm that makes first-check pre-seed investments and follow-on rounds in startups focused on human and planetary health, providing lab space and hands-on support at its US locations.

$30K – $550K
Liquid Ventures

Liquid 2 is an early- and growth-stage venture capital firm that invests in founders across all sectors of technology, providing capital along with support from a network of operators.

$250K – $5M
Oak HC/FT

Oak HC/FT is a growth equity firm that partners with founders building companies in healthcare and financial services, with a focus on enterprise technology and AI.

Precursor Ventures

Precursor Ventures is a venture capital firm that invests in founders at the earliest stages, focusing on people over product.

$250K – $4M
Kapor Capital

Kapor Capital is an investment firm backing startups that create economic opportunity and address inequality across sectors such as education, work, finance, justice, food, and health.

$100K – $1M
Revolution

Revolution is an investment firm that has backed founders, communities, and ideas for over two decades, spanning venture capital, entrepreneurship advocacy, and real estate and hospitality investments.

$100K – $1M
75 & Sunny

75 & Sunny operates as both a venture fund and startup studio where Zillow co-founder Spencer Rascoff directly incubates companies like Queue while leveraging his media presence as a CNBC contributor and podcast host to give portfolio companies exposure that few small funds can match. The LA-based fund concentrates heavily on proptech and "future of living" investments while co-creating companies with unconventional capital structures like SPACs and fractional home-ownership models, drawing on Rascoff's experience navigating public markets.

$100K – $5M
17 more co-investors

GSV Acceleration23andMeBBG VenturesGE VenturesBand of AngelsGanas VenturesOVO FundVamosVenturesBlack Jays VenturesMotley Fool Ventures125 VenturesZeal Capital PartnersAstiaL'ATTITUDE VenturesVista Equity PartnersGenNx360 Capital PartnersTechNexus Venture Collaborative

Firms observed investing alongside SUPPLY CHANGE CAPITAL, from public investor directories. Shared companies are the overlap with SUPPLY CHANGE CAPITAL's recorded portfolio.

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