Paris Hilton went viral earlier this week with reports that she was having a baby with her fiancé, Carter Reum. Turns out, they are going to get married first, and the rumor may have just been an elaborate way to launch the trailer for Hilton's new Netflix cooking show, Cooking With Paris.
The pair are quite the food power couple, and if that statement is turning your head sideways, here’s a breakdown for you. Aside from Hilton's return to reality screens debuting Aug. 4, Reum is a longtime backer of startups at the intersection of healthy eating and tech hype. But before you go saying that's hot, let's dig into his track record.
Reum cofounded Santa Monica based venture firm M13 in 2016, and it has quickly become one of the most active venture investors in the future of food. In five years, it has made more than 100 investments, including in tech heavyweights Slack, Lyft, Pinterest. But M13 also backed Shake Shack early, and has maintained a food investing division ever since. It has funded food startups including Daily Harvest, Tender Greens, Chomps, Ancient Nutrition, Foodstirs, Kite Hill, Shef, Urban Remedy and Thrive Market, to name a few. It has also exited beverage brands like Blue Bottle Coffee, KeVita and Suja, which was acquired by private equity firm Paine Schwartz Partners earlier this month.
Reum has explained how he would boil down his investing strategy: "Everyone has to wake up every single day and out-execute their competitors. The thing today is, you're not just competing with brands or products that are like yours. You're competing for share of voice."
By The Numbers: M13
Assets Under Management: $450 million
Food Investments Total: nearly 30
Source of Deals: most have been headquartered in California
Type of Deal: mostly early stage
Bad Decision: JUUL
Forbes Fresh Take Spotlight: mushroom growing kit startup Back To The Roots
Years Investing: 5
Could Daily Harvest be M13’s next exit? The $250 million (sales) startup may be eyeing an IPO.
This article was originally published in Chloe Sorvino’s newsletter, Forbes Fresh Take, which is all about big ideas changing the future of food. Subscribe here.
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Paris Hilton And Her Fiancé Carter Reum Think Food Is Hot - Forbes
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