The Startup CPG Podcast

In this episode of the Startup CPG Podcast, host Hannah Dittman sits down with Elly Truesdell, founder and Managing Partner at New Fare Partners — a seed and Series A venture fund investing exclusively in food and beverage across the value chain. Elly brings one of the most distinctive full-stack perspectives in consumer investing: she spent nearly a decade at Whole Foods leading local brands and product innovation across the Northeast region and then globally, ran a co-manufacturing facility for 18 months, and co-founded Made by Nacho — a premium cat food brand launched with Bobby Flay that recently closed a successful acquisition. That rare combination of retail buying, operating, and founding experience is the backbone of what New Fare brings to its portfolio.New Fare Fund 1 is a $20M vehicle (plus a couple of SPVs, bringing total AUM to around $25M), and the fund writes first checks of $500K to $1M at seed and Series A, with the intention of getting to know founders for months — and often years — before investing.Hannah and Elly dig into what the Venn diagram between retail buying diligence and investor diligence actually looks like, how founders should adjust their pitch when moving from buyer conversations to investor conversations, and what the right team structure looks like when gearing up for a fundraise. They also tackle the question straight from the Startup CPG Slack community: what matters more — sales growth or profitability?Listen in as they cover:Elly's path from Whole Foods local brands and innovation to co-manufacturing to co-founding Made by Nacho with Bobby Flay to launching New Fare PartnersNew Fare's fund structure, check size, stage focus, and investment thesis around the modern eater and premiumizationThe Venn diagram between retail buyer diligence and investor diligence — where they overlap and where they divergeHow founders should adjust their pitch when moving from buyer conversations to investor conversationsThe power dynamic difference: why your investor relationship should not look like your retailer relationshipWhat Elly looks for in founders — motivation, conviction, and why she wants to see a little pushback in term sheet negotiationsPortfolio spotlights: Lucille (senior nutrition), NARA Organics (infant formula), and Bachan's (Japanese BBQ sauce)Team structure advice: two paths to building — formidable infrastructure from day one vs. lean and fractional with finance as the non-negotiable first hireThe Slack community case study question answered: sales growth vs. profitability — and why it's life stage dependentWhy the overcorrection toward profitability has not lowered growth expectations — the bar is just higher nowConsumer behavior and macro trends driving New Fare's thesis: premiumization, time collapse, and the shift in how people receive foodWhether you're a founder preparing for your first fundraise, an operator navigating the retail-to-investor pivot, or someone building in food and bev who wants to understand how the smartest investors in the room are actually thinking — this episode is a must listen.Episode Links: New Fare Partners: https://www.newfarepartners.comElly Truesdell on LinkedIn: https://www.linkedin.com/in/elly-truesdell-5106b65b/ New Fare Partners on LinkedIn: https://www.linkedin.com/company/new-fare/ Don't forget to leave a five-star review on Apple Podcasts or Spotify if you enjoyed this episode. For potential sponsorship opportunities or to join the Startup CPG community, visit http://www.startupcpg.com.Show Links:Transcripts of each episode are available on the Transistor platform that hosts our podcast here (click on the episode and toggle to “Transcript” at the top)Join the Startup CPG Slack community (35K+ members and growing!)Follow @startupcpgVisit host Hannah's Linkedin Questions or comments about the episode? Email Daniel at [email protected] music by Super Fantastics If you’re interested in learning more about the science behind Cognizin,Head to www.cognizin.com to learn more.

In this episode of the Startup CPG Podcast, host Caitlin Bricker sits down with Hannah Pollack, founder and CEO of Nightingale Ice Cream Sandwiches—a high-quality ice cream novelty brand celebrating its 10th anniversary. Nightingale crafts elevated ice cream sandwiches using non-GMO, sustainably sourced ingredients in flavors like key lime pie, banana pudding, and caramel churro that melt the way real ice cream should.Hannah shares how leaving the Marine Corps led her to culinary school, where she met her husband—a classically trained Belgian chef she lovingly calls Belgian Santa Claus—and how a dessert on their restaurant menu became the foundation of a nationally distributed brand. Caitlin shares how she first encountered Nightingale at the UNFI trade show in June 2025, courtesy of a very enthusiastic fellow exhibitor, and has been a devoted fan ever since.Together, they dig into what real ice cream actually is (and what frozen dairy desserts are trying to get away with), the strict temperature logistics of scaling a frozen novelty from Richmond, Virginia to California, and why doing site visits with distribution partners is non-negotiable. Plus, Hannah shares breaking news about Nightingale's expansion into 175 Whole Foods center store locations.Listen in as they cover:How a restaurant dessert became a nationally recognized ice cream sandwich brandThe real difference between ice cream and frozen dairy desserts—and why it mattersWhy Nightingale's ice cream melts like ice cream should, and the challenge of keeping it that way through distributionThe red flags and green flags Hannah looks for when vetting distribution partnersHow a culinary background and mise en place mentality shaped the way they run their facilitySeasonality in frozen: what April through August looks like for a brand like NightingaleThe breaking news on their Whole Foods center store expansion into 175 locationsWhat 10 years of growth looks like—from hand-stamped packages at farmers markets to Food Network and Food & Wine recognitionWhether you're a founder navigating the frozen aisle, a buyer looking for the next standout novelty brand, or someone who's been burned by a frozen dairy dessert pretending to be ice cream, this episode is for you.Episode Links:Nightingale Ice Cream Website: https://www.nightingaleicecream.com Instagram: https://www.instagram.com/nightingaleicecream/ Hannah Pollack on LinkedIn: https://www.linkedin.com/in/hannah-pollack-a231b12b2/ Nightingale Ice Cream on LinkedIn: https://www.linkedin.com/company/nightingale-ice-cream-sandwiches/Don't forget to leave a five-star review on Apple Podcasts or Spotify if you enjoyed this episode. For potential sponsorship opportunities or to join the Startup CPG community, visit http://www.startupcpg.com.Show Links:Transcripts of each episode are available on the Transistor platform that hosts our podcast here (click on the episode and toggle to “Transcript” at the top)Join the Startup CPG Slack community (35K+ members and growing!)Follow @startupcpgVisit host Caitlin's Linkedin Questions or comments about the episode? Email Daniel at [email protected] music by Super Fantastics If you’re interested in learning more about the science behind Cognizin,Head to www.cognizin.com to learn more.