Fund III
Vertically Integrated Supply Chain
Vertically integrated supply chain and production: direct-trade sourcing, roasting, chocolate manufacture, and warehousing.
Fund Size
$1.740B
Target Net IRR
13-18%
5-Yr MOIC
1.98x
Term
12-15yr
Strategy
The physical infrastructure that protects craft and margin from origin to cafe.
Fund III is deployed against the ChocoJava operating plan through disciplined underwriting, direct sourcing, and standardized build-outs. Capital is drawn as opportunities meet the fund’s underwriting standards.
Discipline
How we underwrite
Every investment is measured against unit-level cash-on-cash, cohort maturation curves, and platform-level margin discipline. Nothing is deployed without a documented operating standard already in place.
Focus Areas
What Fund III funds
Origin partnershipsDirect sourcing relationships across six origin countries.
Roasting & blendingCentral roastery, tea blending, and QA infrastructure.
Chocolate manufactureBean-to-bar and bonbon production facility.
Warehousing & logisticsRegional distribution and cold-chain for pastry and juice.
Fund Terms
Key terms
Structure
Delaware LP with parallel vehicles.
Waterfall
European (whole-fund) with clawback.
Preferred Return
8% compounded.
Term
12-15 years, with two 1-year GP extensions.
GP Commitment
2% of committed capital.
Minimum LP
$2,000,000.
Investor Relations