Get to Know Cultivian Sandbox’s Newest Associate: Luis Garcia
Luis Garcia joins Cultivian Sandbox as an Associate. Previously, Luis was an analyst at J.P. Morgan in the Corporate Client Banking / Leveraged Finance group, where he focused on executing debt capital markets transactions for large corporate and institutional clients. He worked closely with management teams spanning diversified industrial manufacturers to global CPG companies, advising on solutions for refinancings, M&A and leveraged buyouts.
What draws you to food and agriculture / how did you end up in this industry?
In my previous role at J.P. Morgan, I assisted with philanthropy efforts for my team. While planning an event, I came across a book by philosopher Peter Singer called The Life You Can Save, which presents an ethical argument for effective charitable giving. I enjoyed Singer’s writing and decided to pick up another book of his, Animal Liberation. This 1975 work contributed extensively to the animal rights movement and many consider it to be a definitive outline of the ideas behind veganism as an ethic.
The book made me think more critically about food — where it comes from, how it gets to us, why we eat what we eat, and what the future of food looks like. It is one of our basic needs, and is a major factor in several pressing and divisive issues (health, sustainability, animal rights, population growth and more). I knew that as I took the next step in my career, I wanted my efforts to help further the advancement of our food and agricultural system.
(P.S. I always say that I will purchase Animal Liberation for anyone who is interested if they agree to read even just one chapter!)
What types of investment opportunities are you excited to look at in this role?
Food and agriculture has garnered impressive mainstream interest in recent years (thanks in no small part to media coverage of sustainability, alternative proteins and other trends), which is helping drive investor appetite and the number of investment opportunities in the space. However, with an abundance of innovation taking place, it can become increasingly difficult to determine whether an investment is compelling as compared to peers also looking to scale. Because of this, I’m excited to speak with entrepreneurs who are building the enabling technologies that will allow companies to innovate and grow while utilizing these valuable platforms.
What trends in the food and agriculture industry do you find most pressing / do you have any perspectives on the sector long-term?
Although sustainability has become an increasingly important consideration for consumers, I believe that health will continue to be the highest-priority concern given the focus on wellness from younger persons (and especially as analytics around health become a bigger part of their lives). The COVID-19 pandemic has also caused consumers globally to consider their health more acutely. Consumers generally consider products which are plant-based to be healthier than their animal-derived counterparts (or maybe less unhealthy, e.g. Impossible Whopper vs the Whopper). Whether or not this is true in all cases, this collective mindset is an incredible tailwind for plant-based protein and we are already seeing interesting new formulations for chicken, eggs, fish and more starting to enter the mainstream. Again, companies offering enabling technologies for these trends will be of great interest.
Thinking very long-term, I believe we are headed toward a vegan future, or close to it. Plant-based products will continue to take share and cultured meat will become widely available. There will be fantastic combinations of meat (kangaroo-salmon, anyone?) that are developed and enjoyed, cruelty-free through cell culture. It’s interesting to think about farm animals in a scenario like this — it reminds me of Philip K. Dick’s Do Androids Dream of Electric Sheep? (but hopefully not as dystopian).
Is there a particular Cultivian Sandbox investment that you really like or think is particularly exciting/interesting?
When I was initially looking into Cultivian Sandbox, one investment that caught my eye was Culture Biosciences, particularly for reasons mentioned in question #2 above. They offer an enabling technology to help companies optimize R&D and free up time to design and analyze experiments.
Also, the recent investment in Copper Cow Coffee is exciting as I think it represents that Cultivian Sandbox truly does look across the food and agriculture value chain for promising companies and entrepreneurs. We have expertise in executing deals and supporting portfolio companies spanning from up-stream on-farm technology all the way down to your morning cup of coffee.
Why are you excited to join Cultivian Sandbox?
Even prior to seeing the open Associate position, I followed Cultivian Sandbox on social media and was intrigued by the backgrounds of the team and thought pieces published. Throughout the hiring process, it was evident (even virtually) that the culture was just as impressive, and I felt the team would challenge me in the right ways. I was motivated by the level of responsibility I would be taking on both externally and internally immediately upon starting. The team is very egalitarian, collaborating consistently across all levels and always encouraging independent thinking. Also, several areas of interest within the food and agriculture sector are just in their infancy, and to work with entrepreneurs at the bleeding edge of innovation behind a fantastic and established team is thrilling.
What are two fun facts about you?
“Fun” is a strong word for this first one. I played chess competitively growing up, and even had a coach for a time. There were rated tournaments nearly every other week, so I got to meet a lot of interesting people and play some very tough matches, sometimes hours long. Being a part of the chess community was a great experience. It taught me a lot about how to win and lose, and learn from both. (Yes, I did play the Queen’s Gambit sometimes.)
To finish, I have to mention that I live with two amazing dogs, Toby (poodle mix — 6 years) and Luna (standard poodle — 7 months). Alternatively, they are yin and yang. They are noble work-from-home companions, fight at least a few times a day, and enjoy long walks on the beach (see below).
