IMPACTASSETS 50™
An Annual Showcase of Impact Investment Fund Managers

ImpactAssets 50
An Annual Showcase of Impact Investment Fund Managers

1st Course Capital




Firm Overview
1st Course Capital invests in private companies with robust market potential and strong leadership in the food system that: -- Deliver products, technologies, business model innovations & services to the marketplace that have the potential for significant growth in their verticals. -- Leverage growing secular forces, science and trends designed to support the creation of a food system optimized for security, health and sustainability. 1CC is uniquely positioned to capitalize on the opportunities in the marketplace through our proprietary deal-flow; our deep domain expertise in food, agriculture & health; our established and trusted thought leadership position in the entrepreneurial and investor ecosystems; a strong network of aligned co-investors, follow-on financing, potential customers & acquirers; extensive partnerships with critical players in food production, technology, food distribution, and logistics, the regulatory landscape, government agencies and NGOs required for entrepreneurial success.
Years of Operation: 3 – 4 years
% of Capital from Top 3 Investors: 25% – 49%
The US food system is a $1 Trillion market that is being actively disrupted by entrepreneurs bringing new technologies, business model innovations and consumer products to market to meet growing consumer demand for healthier, more sustainable & traceable food.
Large-scale incumbents in food & agriculture are losing market share as their consumers shift towards an emergent marketplace offering products and services more in line with their social and environmental values, creating a ripe environment for M&A. Consumer demand for these clean, sustainable and healthy products currently outstrips supply enabling a robust startup environment for entrepreneurs delivering solutions. The current industrial food production and distribution system has become fragile over time due to intensified and unsustainable production practices that put our natural resources including air, water and soil at significant risk. The food system contributes to climate change, jeopardizes animal and human welfare and endangers our food security. Innovations are emerging in all these categories.
Renske Lynde and Peter Herz have experience succeeding together and have been active in building the entrepreneurial ecosystem in food & agriculture for a decade. They worked together co-founding the ground-breaking accelerator, Food System 6, and together they have helped launch more than 70 food system successful start-ups. Perhaps the best way to answer is that they have prepared for success not only by studying the food system and building their extensive networks, but also by creating the start-up infrastructure necessary to successfully disrupt this gigantic collection of markets. Also, they cut their teeth starting companies of their own and investing in them directly thus enabling them to offer entrepreneurs the benefit of their substantial personal experiences.
Investment Example
Bobbie is a revolutionary new infant care company currently focused on producing a clean, transparently sourced and healthier infant formula. Bobbie is disrupting a legacy industry dominated by products that have been known to contain heavy metals, lead and other contaminants. Bobbie is also focused on creating a broader and more inclusive conversation around infant feeding to include those parents and caregivers who are unable to breastfeed, or who choose to supplement with formula, who often face stigma for their choices.
Leadership and Team
![]() |
Renske Lynde – General Partner More Info
Veteran leader in food, agriculture and nutrition policy & regulatory arenas Board member & investor in early stage food system companies (angel: Imperfect Foods, Lineage Logistics) BA, Boston University; MPP, University of California, Berkeley |
![]() |
Peter Herz – General Partner More Info
Serial entrepreneur (3Ware) Board member & Advisor to early stage companies BS ECE, Carnegie Mellon University |
Financial Performance
Impact Performance
Percentage of Total Assets Under
Management that are Impact Investments: |
100%
|










Social and environmental impact are integral to the thesis of 1st Course Capital. All companies we invest in are working towards specific end points towards creating a more resilient, healthier and more equitable food system.
As mentioned above, we are developing a metric framework for us to employ given our systems-led approach and the early stage nature of our portfolio companies. This will include an evaluation of how the framework can be integrated into our diligence process.
Impact Tracking and Monitoring


Learn More
541 Jefferson Ave., Suite 100, Redwood City, CA 94063 USA
Apply for the IA 50 2022
The application period to become an ImpactAssets 50 2022 Fund Manager will open in September 2021!
To stay informed on the application process, sign up here.