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Yellow Point Completes Investment in Fresh Prep

AUGUST 25, 2021 – Yellow Point Equity Partners (“Yellow Point”) is pleased to announce the closing of an investment in Fresh Prep Foods Inc. (“Fresh Prep” or the “Company”).

Fresh Prep, headquartered in Vancouver, is the largest meal kit delivery service company in BC. The Company provides everything needed to make healthy and delicious meals at home in 30 minutes or less using fresh, locally-sourced ingredients. Fresh Prep’s first-to-market zero waste kit and commitment to carbon neutrality have established it as among the most innovative and sustainable meal kit companies in North America. The Company has grown rapidly to become a local market leader, completing tens of thousands of deliveries each week.

Co-CEO of Fresh Prep Dhruv Sood said, “We are enthusiastic about our partnership with Yellow Point and see a strong alignment of culture and values. Yellow Point’s strategic guidance and network of value-add advisors across the country will be instrumental through our next phase of growth. With this recently raised capital, we look forward to expanding our services into Alberta later this year.”

“Fresh Prep is a uniquely innovative player in the meal kit delivery space,” said Dave Chapman, Managing Partner of Yellow Point. “Its substantial growth to date has been underpinned by the management team’s commitment to sustainability and perpetually increasing customer value. We believe these values, exemplified by the company’s innovative zero waste kit and carbon neutrality commitment, will increasingly resonate with customers across the country.”

This is Yellow Point’s second investment in its fifth fund, which had its first close in May 2021.

About Yellow Point

Yellow Point Equity Partners has been actively helping its management partners build better businesses for over 17 years. The firm invests in outstanding management teams of later-stage growth companies based primarily in western Canada and aims to be the long-term partner of choice for Canada’s leading mid-market companies. Yellow Point’s approach is supportive, hands-off with respect to day-to-day operations and active when it comes to strategic decisions and board work.

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Dave Chapman