Atlas Provisions


Atlas Provisions is a social business that aims to raise the standard of living of historically disenfranchised, low-income farmers from around the world by introducing new international foods to US consumers and creating new export markets for its partner farmers. The company works to purchase from farmers as directly as possible, eliminating middlemen, paying farmers a price premium above the going market rate, and over time helping their communities secure access to education, basic medical care, and clean water.

Venn’s PRI will help Atlas launch its first initiative with popped lotus seeds. Grown in India, popped lotus seeds are similar in taste to popcorn but without the hull. They are naturally anti-inflammatory and high in antioxidants, magnesium, and potassium. The supply chain for popped lotus seeds is ripe for disruption. Today, farmers and processors who do the majority of the labor see the fewest financial benefits and are pushed into a cycle of debt through the seed purchasing process. Atlas aims to change that with its first four products, which are already in sale in 60 retail locations around the US.


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Recipient Name:  Atlas Provisions, SBC
Corporate Form:  Minnesota Specific Benefit Corporation
Entrepreneur:  Sarah Pritzker

Investment Sought:  $60k - $150k
Overview of Preliminary Investment Terms:

  • Convertible Note

  • Accrues simple interest at 3% annually before conversion

  • Trigger Scenarios…

    Maturity: Optional conversion to common equity in four years at a set pre-money valuation.

    Qualified Financing: Automatic conversion to equity at a X% discount to the stock price negotiated in qualified financing. Set valuation cap.

    Change of Control before Qualified Financing: No conversion. Venn will receive 1.5 times the principal and accrued interest then outstanding.


WHAT'S NEXT?

  1. Learn more
    - Contact the company for additional materials and with questions. Sarah Pritzker, CEO, can be reached at sarah@atlasprovisions.co.
    - Read the Venn Donor FAQ.

  2. Pledge your support
    - Contact Venn staff to pledge and join this PRI.