ADM Capital’s Cibus Enterprise Fund has made an investment in Aliso Viejo, California-based Adroit Worldwide Media Inc, a retail tech provider. No financial terms were disclosed.
17 May 2021, London, UK: ADM Capital Europe LLP, the London-based private equity advisory firm, is pleased to announce that the Cibus Enterprise Fund (‘Cibus’) has invested into the U.S. based retail technology provider Adroit Worldwide Media, Inc., (‘AWM’).
Technology has reached the point where supermarkets can retrofit their stores with cameras, smart shelves and sensors which provide sufficient data for more efficient shelf stacking, checkout-free shopping, optimising inventory levels and logistics which improve waste reduction. This so-called “frictionless retailing” also enables new formats of stores such as small “hyper-local” stores in a college campus or office building. According to a recent report by Google Cloud, application areas for AI and Machine Learning in physical retail have the potential to drive between USD 280-650bn in value within 3 years.
AWM, based in Aliso Viejo, California, provides a suite of products for retailers that includes AWM Frictionless™, a check-out free technology that enables shoppers to walk into a store, remove products off the shelves and leave the store without any need to either scan purchases or go through a checkout line. Digital weight-sensing shelves also enable targeted advertising and dynamic pricing.
Commenting, Alastair Cooper, Head of Venture Investing at ADM Capital Europe said: “Physical retailers are coming under renewed pressure that requires digital transformation to compete better with online players. With recent advancements in machine learning and computer vision, the retail sector is set to undergo monumental disruption. We are thrilled to partner with Kevin and his team at AWM who have developed a number of technologies that can be implemented in a wide range of store sizes and formats, from micro-markets to convenience stores and larger-format retailers.”
Commenting, Kevin Howard, CEO of AWM, said: “Food and fast-moving goods waste has always been top of mind for me. At AWM we set out to build an entire eco-system of technologies that will reinvent retail as we know it today. Our team of leading developers, engineers and data scientists have created solutions that yield higher returns and streamline communication, while reducing waste and helping retailers become more efficient. We are honoured to receive investment and partnership from the ADM Capital advised Cibus Enterprise Fund, a fund in which its core values and mission correlate directly with our own. Their global reach will assist AWM greatly as we take the next step in our journey.”
About ADM Capital
ADM Capital is a Hong Kong and London-based private credit and private equity fund manager and adviser. Founded in 1998, ADM Capital manages or advises USD 2.6bn across a range of funds. With over 45 people operating out of 4 international offices, ADM Capital manages closed-ended and open-ended funds as well as a number of managed accounts. With its long track record and expertise in Asia, ADM Capital focuses on off-market private transactions accessed via its extensive, proprietary network. ADM Capital Europe launched the Cibus Fund in 2017 and the Cibus Enterprise Fund in 2019 (the ‘Cibus Funds’).
About the Cibus Fund and the Cibus Enterprise Fund
The Cibus Fund focusses on mid-market investment opportunities in sustainable food processing and production companies, primarily in North America, Europe and Australasia with a ten percent allocation to early stage high growth agritech investments. The Cibus Enterprise Fund has a global mandate to invest in late-stage venture companies disrupting the agritech sector. Both Funds take advantage of the significant investment opportunities presented by global demographic changes, shifting trade and consumption patterns and the inability of the world’s fastest growing economies to meet rapidly increasing regional demand for high-value foods driven by burgeoning middle classes. In addition, the Cibus Funds target companies with strong management teams that are active in one or more stages of high-value food chains and looks for companies that are established category champions with a demonstrable technological advantage. Investments are evaluated on their environmental sustainability as a key determinant of value creation.
In October 2018, The Cibus Fund was the first fund to be given ‘Guernsey Green Fund’ status by the Guernsey Financial Services Commission. The Guernsey Financial Services Commission launched the Guernsey Green Fund in July 2018 and it is only awarded to those funds which meet strict eligibility criteria designed to reassure investors that funds are invested in line with appropriate environmental standards. Cibus has been granted this status in recognition of the fact it regards environmental sustainability as a key determinant of value creation.
For more information: www.cibusfund.com