LunaCap Ventures invests in leading wholesale and retail bakery Ovenly
NEW YORK, NY (August 16, 2016) – LunaCap Ventures is pleased to announce an investment in Greenpoint, NY-based Ovenly. It is the fourth investment from LunaCap’s first investment fund.
Ovenly is a leading wholesale and retail bakery servicing the New-York metro area. Ovenly provides artisanal baked goods to grocers, coffee shops, restaurants, hotels and ecommerce platforms. Retail operations consist of six permanent and pop-up locations in Brooklyn and Manhattan.
The Company has paired the creation of award-winning product with effective scaling of wholesale distribution capability to deliver an array of high-quality baked goods across diverse channels. Ovenly’s significant customer and product information resources well position the business for new organic opportunities.
LunaCap’s investment refinances existing capital and supports the continued growth of Ovenly’s retail operations throughout the New York metro area.
“We are excited about our new partnership with LunaCap,” said Ovenly CEO Erin Patinkin. “LunaCap’s flexible capital and broad operational experience provides us support on many levels as we focus on growth opportunities.”
LunaCap Ventures’ Managing Partner Paul Capon added, “Ovenly’s team has built an incredible platform in a short amount of time. We believe in the team’s vision to augment its successful wholesale business and reach more customers through direct channels.”
For more information about Ovenly, please visit www.oven.ly
For Lunacap’s recent article on Venture Lending, see www.lending-times.com/2016/08/15/venture-debt-vs-preferred-equity/
About LunaCap Ventures
LunaCap Ventures, LLC is a New York, NY-based private investment firm that provides growth capital to startups and small growing businesses (between $250,000 and $5 million of revenue). LunaCap invests in companies across all sectors, providing debt, equity and flexible financing. LunaCap partners with strong management teams or experienced industry entrepreneurs to facilitate growth and new opportunities. For more information about LunaCap Ventures, please visit www.lunacapventures.com.