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达利欧投资“农产品独角兽”:销售的蓝莓接近高尔夫球大小

财富中文网 2025-11-10 00:21:26

达利欧投资“农产品独角兽”:销售的蓝莓接近高尔夫球大小
图片来源:Courtesy of Fruitist

当史蒂夫·马加米(Steve Magami)描述他的蓝莓时,他的口气听起来不那么像农学家,反而更像豪车销售。

Fruitist首席执行官马加米告诉《财富》:“咬下去真的会‘噗哧'爆汁。它们非常紧实脆爽,你得亲自尝尝才能明白我的意思,因为我们从未在浆果中见过这样的品质。”

马加米的公司Fruitist销售的蓝莓个头大到近乎不真实——他澄清说“没有高尔夫球那么大,但很接近了”。该公司新推出的超巨型“Legends”系列产品一炮而红,在乔氏超市(Trader Joe's)、全食超市(Whole Foods)、Sprouts超市,甚至明星钟爱的Erewhon超市都迅速售罄。

这一增长造就了一个价值十亿美元的浆果品牌,其背后得到了瑞·达利欧(Ray Dalio)的家族办公室和摩根大通资产管理公司(J.P. Morgan Asset Management)的支持,后者刚刚领投了该公司1.5亿美元的融资轮。马加米不想对达利欧的投资发表评论,但指出该家族办公室“并不经常公开进行这么多投资,所以这当然是我们深感自豪的事情。”

马加米引以为傲的另一位合作伙伴是芝加哥熊队(Chicago Bears)的四分卫卡勒布·威廉姆斯(Caleb Williams)。在11月2日熊队以47比42战胜辛辛那提猛虎队的比赛中,他成为NFL历史上首位在同一场比赛中完成多次传球达阵、完成多次接球并接球达阵得分的球员。今年初秋,威廉姆斯与Fruitist的合作关系已对外公布。

“那对他而言是一场载入史册的比赛,”马加米笑着说。“简直难以置信。所以我们很高兴他能帮助我们传递品牌信息。”

这个信息清晰而简单:拿一种普通的东西——蓝莓——并对其进行重新设计,以实现品质稳定。

“我们想终结‘浆果轮盘赌',”马加米说。“今天你买一包,味道很好。第二天买的可能就软烂、发霉或寡淡无味。我们想打造一个能保证每次都有绝佳体验的品牌。”

这一追求始于私募股权领域。马加米职业生涯的头十年致力于为生物燃料项目融资,之后他意识到同样的优化逻辑可以应用于食品领域,并看到了释放“精英新品种潜力”的机会:即培育出风味和硬度最大化的蓝莓。马加米强调,注重健康的人无需担心:培育巨型蓝莓与像一些流行食品品牌可能做的那样,给蓝莓注入大量转基因成分是完全不同的。

马加米说,典型的蓝莓生产和运输都很随意,无人对质量负责。在传统模式下,小农户将水果运给包装商,包装商卖给分销商,分销商再卖给零售商,这意味着各方利益不一致;马加米说,包装商和分销商“并不承担实际风险”。

“这扼杀了创新,”他补充道。“这一直是一个死气沉沉、利润微薄的行业。”

Fruitist的模式颠覆了这种层级结构。该公司拥有完整的价值链,从专利品种(特定黑莓的专利)到全球农场,再到数据驱动的物流。

对于一家痴迷于完美的公司来说,其物流体系复杂得令人眼花缭乱。Fruitist在八个国家经营农场,从秘鲁的“天然温室”海岸到俄勒冈州、摩洛哥、埃及以及中国的云南省。其目标是提供无缝的全年供应。

“我们建立了基础设施、数据基础,现在甚至有了能帮助预测最佳质量和产量的算法,”马加米说。

这是2025年一个非AI初创公司成功的罕见景象。AI初创公司在2025年吞噬了63%的风险投资资金,造成了一个两极分化的市场,传统初创公司必须奋力争夺残羹冷炙。但华尔街相信,Fruitist所依赖的技术、农业和营销相结合的模式意味着它有可能超越农产品货架,实现规模化扩张。

该公司目前在全球40多个国家的超过12,000家商店有售,但摩根大通的投资将用于在其中八个国家扩大业务,建设冷藏基础设施,并实现采收和分销流程的自动化。

“全世界的零食趋势一度不健康”

Fruitist的蓝莓看起来像是农产品,但马加米坚持认为它们是一场零食革命的一部分。

“全世界的零食趋势一度不健康,”他说。“我们看到了提供更好产品的机会。它营养密集、美味可口,而且便于随身食用。”

为此,Fruitist最近推出了即拿即走的“零食杯”,这是一种独立包装的新鲜蓝莓。该公司的内部研究表明,在8000亿美元的全球零食市场中,健康零食领域可能达到1000亿美元。

甚至当前GLP-1药物的热潮也对Fruitist有利。

“数据显示,GLP-1使用者几乎对所有食物的摄入量都减少了,除了水果和蔬菜,”马加米说。“他们希望外表更美,感觉更好。”

这种高端化伴随着一个价格标签:该公司的大号盒装蓝莓售价约5至8美元,超巨型 Legends系列售价10至12美元。根据美国农业部(USDA)的数据,2024年蓝莓的平均价格约为每磅4美元。

但马加米认为,驱动消费者忠诚度的是品质稳定性,而非奢华感,人们愿意支付更多以避免玩“浆果轮盘赌”。

“我们希望消费者感觉这是一年四季每周都可靠的产品,”马加米说。(*)

译者:刘进龙

审校:汪皓

当史蒂夫·马加米(Steve Magami)描述他的蓝莓时,他的口气听起来不那么像农学家,反而更像豪车销售。

Fruitist首席执行官马加米告诉《财富》:“咬下去真的会‘噗哧'爆汁。它们非常紧实脆爽,你得亲自尝尝才能明白我的意思,因为我们从未在浆果中见过这样的品质。”

马加米的公司Fruitist销售的蓝莓个头大到近乎不真实——他澄清说“没有高尔夫球那么大,但很接近了”。该公司新推出的超巨型“Legends”系列产品一炮而红,在乔氏超市(Trader Joe's)、全食超市(Whole Foods)、Sprouts超市,甚至明星钟爱的Erewhon超市都迅速售罄。

这一增长造就了一个价值十亿美元的浆果品牌,其背后得到了瑞·达利欧(Ray Dalio)的家族办公室和摩根大通资产管理公司(J.P. Morgan Asset Management)的支持,后者刚刚领投了该公司1.5亿美元的融资轮。马加米不想对达利欧的投资发表评论,但指出该家族办公室“并不经常公开进行这么多投资,所以这当然是我们深感自豪的事情。”

马加米引以为傲的另一位合作伙伴是芝加哥熊队(Chicago Bears)的四分卫卡勒布·威廉姆斯(Caleb Williams)。在11月2日熊队以47比42战胜辛辛那提猛虎队的比赛中,他成为NFL历史上首位在同一场比赛中完成多次传球达阵、完成多次接球并接球达阵得分的球员。今年初秋,威廉姆斯与Fruitist的合作关系已对外公布。

“那对他而言是一场载入史册的比赛,”马加米笑着说。“简直难以置信。所以我们很高兴他能帮助我们传递品牌信息。”

这个信息清晰而简单:拿一种普通的东西——蓝莓——并对其进行重新设计,以实现品质稳定。

“我们想终结‘浆果轮盘赌',”马加米说。“今天你买一包,味道很好。第二天买的可能就软烂、发霉或寡淡无味。我们想打造一个能保证每次都有绝佳体验的品牌。”

这一追求始于私募股权领域。马加米职业生涯的头十年致力于为生物燃料项目融资,之后他意识到同样的优化逻辑可以应用于食品领域,并看到了释放“精英新品种潜力”的机会:即培育出风味和硬度最大化的蓝莓。马加米强调,注重健康的人无需担心:培育巨型蓝莓与像一些流行食品品牌可能做的那样,给蓝莓注入大量转基因成分是完全不同的。

马加米说,典型的蓝莓生产和运输都很随意,无人对质量负责。在传统模式下,小农户将水果运给包装商,包装商卖给分销商,分销商再卖给零售商,这意味着各方利益不一致;马加米说,包装商和分销商“并不承担实际风险”。

“这扼杀了创新,”他补充道。“这一直是一个死气沉沉、利润微薄的行业。”

Fruitist的模式颠覆了这种层级结构。该公司拥有完整的价值链,从专利品种(特定黑莓的专利)到全球农场,再到数据驱动的物流。

对于一家痴迷于完美的公司来说,其物流体系复杂得令人眼花缭乱。Fruitist在八个国家经营农场,从秘鲁的“天然温室”海岸到俄勒冈州、摩洛哥、埃及以及中国的云南省。其目标是提供无缝的全年供应。

“我们建立了基础设施、数据基础,现在甚至有了能帮助预测最佳质量和产量的算法,”马加米说。

这是2025年一个非AI初创公司成功的罕见景象。AI初创公司在2025年吞噬了63%的风险投资资金,造成了一个两极分化的市场,传统初创公司必须奋力争夺残羹冷炙。但华尔街相信,Fruitist所依赖的技术、农业和营销相结合的模式意味着它有可能超越农产品货架,实现规模化扩张。

该公司目前在全球40多个国家的超过12,000家商店有售,但摩根大通的投资将用于在其中八个国家扩大业务,建设冷藏基础设施,并实现采收和分销流程的自动化。

“全世界的零食趋势一度不健康”

Fruitist的蓝莓看起来像是农产品,但马加米坚持认为它们是一场零食革命的一部分。

“全世界的零食趋势一度不健康,”他说。“我们看到了提供更好产品的机会。它营养密集、美味可口,而且便于随身食用。”

为此,Fruitist最近推出了即拿即走的“零食杯”,这是一种独立包装的新鲜蓝莓。该公司的内部研究表明,在8000亿美元的全球零食市场中,健康零食领域可能达到1000亿美元。

甚至当前GLP-1药物的热潮也对Fruitist有利。

“数据显示,GLP-1使用者几乎对所有食物的摄入量都减少了,除了水果和蔬菜,”马加米说。“他们希望外表更美,感觉更好。”

这种高端化伴随着一个价格标签:该公司的大号盒装蓝莓售价约5至8美元,超巨型 Legends系列售价10至12美元。根据美国农业部(USDA)的数据,2024年蓝莓的平均价格约为每磅4美元。

但马加米认为,驱动消费者忠诚度的是品质稳定性,而非奢华感,人们愿意支付更多以避免玩“浆果轮盘赌”。

“我们希望消费者感觉这是一年四季每周都可靠的产品,”马加米说。(*)

译者:刘进龙

审校:汪皓

When Steve Magami describes his blueberries, he sounds less like an agriculturist and more like a luxury car salesman.

“They actually pop when you bite into them,” the Fruitist (Fruitist) CEO told Fortune. “They're so firm and crispy, you've got to try it to know what I mean, because we've never seen anything like this in berries.”

Magami's company, Fruitist, sells blueberries so large that they border on surreal—“not quite as big as golf balls,” he clarifies, “but close.” The company's new super jumbo “Legends” line has become a runaway hit, flying off shelves at Trader Joe's, Whole Foods, Sprouts, and even celebrity-beloved Erewhon.

The growth has created a billion-dollar berry brand, backed by Ray Dalio 's family office and J.P. Morgan Asset Management, which just led a $150 million funding round in the company. Magami didn't want to comment on Dalio's investment, but noted the office “isn't out there making investments in so many things publicly, and so this is certainly something we take a lot of pride in.”

Another partner Magami is proud of: Chicago Bears quarterback Caleb Williams, who recently became the first NFL player ever to throw multiple touchdowns, catch multiple passes, and score a receiving touchdown in a single game during the Bears' 47–42 win over the Bengals on Nov. 2. Williams's partnership with Fruitist was announced earlier this fall.

“That was a legacy game for him,” Magami said with a smile. “It was unbelievable. So we're excited for him to help us get the message out.”

That message is clear but simple: Take something ordinary—blueberries—and reengineer it for consistency.

“We wanted to put an end to berry roulette,” Magami said. “One day you buy a pack, and it's great. The next day it's mushy or moldy or bland. We wanted to build a brand that guaranteed a great experience every time.”

That quest began in private equity. Magami spent the first decade of his career financing biofuel projects before realizing the same logic around optimization could apply to food, seeing an opportunity to unlock “the potential of elite new varietals”: blueberries bred to maximize flavor and firmness. The health-conscious need not worry, Magami emphasized: Breeding giant blueberries is quite different from injecting them chock-full of GMOs, like popular grocery brands might do.

Typical blueberries are made and shipped haphazardly, Magami said, with no accountability for quality. In the classic model, small farmers ship fruit to packers, who sell to distributors, who sell to retailers, meaning there is no alignment; packers and distributors “don't have skin in the game,” Magami said.

“That stifles innovation,” he added. “This has been a sleepy industry with low margins.”

Fruitist's model flips that hierarchy. The company owns the full value chain, from proprietary varietals—patents on particular blackberries—to global farms to data-driven logistics.

For a company obsessed with perfection, the logistics are dizzying. Fruitist operates farms in eight countries, from Peru's “natural greenhouse” coast to Oregon, Morocco, Egypt, and China's Yunnan province. The goal is to offer seamless, year-round supply.

“We built the infrastructure, the data foundation, and now even algorithms that help predict optimal quality and yield,” Magami said.

It's a rare picture of a non-AI startup succeeding in 2025. AI startups gobbled up 63% of venture-capital funding in 2025, creating a bifurcated market where more traditional startups must run to catch scraps. But Wall Street is convinced the mix of tech, agriculture, and marketing that Fruitist is built on means it could scale beyond the produce aisle.

The company currently sells in over 12,000 stores and more than 40 countries, but J.P. Morgan's investment will go toward expanding operations in eight of those countries, building cold-storage infrastructure and automating processes around harvesting and distribution.

'The world was snacking unhealthy'

Fruitist's blueberries may look like produce, but Magami insists they're part of a snacking revolution.

“The world was snacking unhealthy,” he said. “We saw an opportunity to bring something better. It's nutrient-dense, enjoyable, and easy to eat on the go.”

To that end, Fruitist recently launched grab-and-go “snack cups,” which are individual packs of fresh blueberries. The company's internal research suggests the healthy snacking sector could reach $100 billion in an $800 billion global snack market.

Even the current GLP-1 drug boom is working in Fruitist's favor.

“The data shows GLP-1 users are eating virtually less of everything except fruits and vegetables,” Magami said. “They want to look better and feel better.”

That premiumization comes with a price tag: about $5 to $8 for the company's jumbo clamshells, and $10 to $12 for the super jumbo Legends. The average price for blueberries in 2024 was around $4 per pound, according to USDA data.

But Magami argues consistency, not luxury, drives consumer loyalty, and that people are willing to pay more not to have to play “berry roulette.”

“We want consumers to feel like this is a reliable product every week of the year,” Magami said.

*