The fund will infuse capital into for-profit social enterprises which are working to enhance well being outcomes by means of food-related options. Dohmen is planning to spend money on 5 to 10 food-focused companies by means of the fund, with the final word aim of impacting greater than 5 million customers over the following 5 to 10 years, based on a information launch.
The affect funding fund builds upon an ongoing $75 million dedication to decreasing the morbidity of diet-related illness. Dohmen introduced that pledge in September through the White Home Convention on Starvation, Diet & Well being, when the Biden administration rolled out a nationwide technique to finish starvation, enhance wholesome consuming and bodily exercise, and cut back diet-related illness by 2030.
“Our nation is sick. The usual American weight loss program and its underlying dependency on processed meals is essentially responsible,” Dohmen president and chief govt officer Rachel Curler mentioned in an announcement. “The DCF Affect Funding Fund seeks to advance a more healthy meals system by means of strategic investments in options that align with our mission to reverse and stop diet-related illness.”
Curler participated in a panel dialogue throughout Friday’s White Home occasion, the place she urged others to prioritize investments within the wholesome meals and diet ecosystem.
“Extra funding is required to advertise the wholesome meals business and make unprocessed, entire meals readily and equitably out there. We encourage different foundations, socially acutely aware companies, and traders to hitch us in advancing a wholesome consuming motion by pursuing an identical self-sustaining funding mannequin with a capital and social return,” mentioned Curler.
The fund will prioritize social return on funding over financial beneficial properties on its invested capital. Monetary earnings achieved by means of the fund’s investments will gas the inspiration’s charitable giving actions and public consciousness methods.
In 2019, Dohmen transformed from a six-generation family-owned enterprise right into a foundation-owned philanthropic enterprise. Underneath that construction, the corporate’s earnings are donated to the inspiration for charitable functions. Central to Dohmen’s present technique is the assumption that meals is a key preventative medical intervention.
“We consider that handy entry to wholesome meals for all People is the reply to our nation’s biggest public well being menace,” mentioned board chair Cynthia Dohmen LaConte. “Meals, the very factor that is making us sick, can grow to be our prescription to well being. Our intention is to make entry to wholesome, entire meals as ubiquitous as right this moment’s unhealthy quick meals.”
Whereas Dohmen is seeking to make a nationwide affect by means of its newly launched $60 million fund, the main target of its earlier $75 million pledge has largely focused Wisconsin and the Milwaukee group.
With that funding, the inspiration launched Meals For Well being – a Milwaukee-based public charity that gives contemporary medically tailor-made meals, people-centered well being teaching and diet training to economically deprived populations in Wisconsin – and The Meals Profit Co., a Milwaukee-based social enterprise that contracts with corporations to supply staff with diet teaching, biometric screening and contemporary meals supply.