1st Course Capital Company Profile

Background

1st Course Capital (1CC) is an early-stage venture capital firm founded in 2019 and headquartered in Redwood City, California. The firm is dedicated to investing in innovative entrepreneurs who are transforming the food system. 1CC's mission is to support scalable and capital-efficient business models and technological innovations that positively impact human health, the planet, and communities.

Key Strategic Focus

1CC focuses on early-stage investments, primarily at the Seed and Series A stages, in companies developing innovations across the food supply chain. This includes areas such as inputs and agriculture, processing, distribution, retail, and consumer health. The firm seeks to address challenges in the food system by supporting businesses that offer scalable and capital-efficient solutions.

Financials and Funding

As of 2025, 1CC has made 22 investments, with 20 companies currently in its portfolio. The firm has achieved a company Multiple on Invested Capital (MOIC) ranging from 1x to 14.4x, an Internal Rate of Return (IRR) of 17.3%, and a Total Value to Paid-In (TVPI) multiple of 1.31x.

Pipeline Development

1CC's portfolio includes a diverse range of companies at various stages of development. Notable investments include:

AgriDigital: A commodity trading platform enhancing supply chain traceability and margins for farmers.

Bobbie: An infant formula company producing products with clean and transparent ingredients.

Dispatch Goods: A reverse logistics company offering reusable packaging for restaurant delivery and takeout.

Pathwater: The first certified refillable and recyclable bottled water packaged in a sleek aluminum container.

Technological Platform and Innovation

1CC invests in companies leveraging innovative technologies to transform the food system. This includes advancements in agricultural technology, food processing, distribution logistics, and consumer health products. The firm supports businesses that utilize proprietary technologies and scientific methodologies to create sustainable and efficient solutions within the food industry.

Leadership Team

Peter Herz, General Partner: A serial entrepreneur with a background in electrical engineering and mathematics from Carnegie Mellon University. He serves as a board member and advisor to early-stage companies.

Renske Lynde, General Partner: A veteran leader in food, agriculture, and nutrition policy and regulatory arenas. She holds a BA from Boston University and an MPP from the University of California, Berkeley.

Doug Koob, General Partner: Founder of Circle Alliances, a growth strategist for scaling innovative brands. He has held senior leadership roles in several leading U.S. restaurant concepts and spent 23 years in various U.S. and international roles at Starbucks.

Michiel Bakker, Advisor: President of the Culinary Institute of America with global leadership roles at Google and Starwood Hotels & Resorts. He holds an MBA from the University of Bradford, UK; an Executive MSc from the University of Denver; and an MS HOA from UNLV.

Leadership Changes

As of July 2025, there have been no recent significant changes or appointments within 1CC's leadership team.

Competitor Profile

Market Insights and Dynamics

The venture capital landscape in the food and agriculture sector is experiencing significant growth, driven by increasing consumer demand for sustainable and health-conscious products. Innovations in food technology, supply chain optimization, and alternative proteins are attracting substantial investments.

Competitor Analysis

Key competitors in the early-stage venture capital space focusing on food system innovations include:

S2G Ventures: Invests in companies across the food, agriculture, and seafood markets, emphasizing sustainability and health.

Blue Horizon: Focuses on investments in plant-based and cell-based food companies, aiming to transform the global food system.

AgFunder: A venture capital firm investing in agrifood technology companies at various stages, from seed to growth.

These firms share a common goal with 1CC in supporting innovations that address challenges in the food system, though each has its unique investment strategies and focus areas.

Strategic Collaborations and Partnerships

1CC collaborates with a network of investors, corporations, and other stakeholders to support its portfolio companies. These partnerships provide resources for strategy, marketing, sales, operations, finance, and other areas essential for entrepreneurial success.

Operational Insights

1CC's strategic considerations include:

Market Position: Establishing a strong presence in the early-stage venture capital market focused on food system innovations.

Competitive Advantages: Leveraging the deep industry expertise of its leadership team and a robust network of stakeholders to support portfolio companies effectively.

Differentiators: Emphasizing investments in scalable and capital-efficient business models and technologies that address significant challenges in the food system.

Strategic Opportunities and Future Directions

1CC aims to continue identifying and investing in exceptional entrepreneurs who are developing innovative solutions to transform the food system. Future directions include:

Expansion of Investment Portfolio: Broadening the range of investments to encompass emerging technologies and business models within the food and agriculture sectors.

Strengthening Partnerships: Enhancing collaborations with industry stakeholders to provide comprehensive support to portfolio companies.

Focus on Sustainability: Prioritizing investments that contribute to a sustainable and health-conscious food system, aligning with global trends and consumer preferences.