NextFoods announces strategic investment from venture capital firm Maveron LLC


span style="font-size: 10pt; font-family: "Tahoma","sans-serif";">Boulder, CO, August 5,
2008 – NextFoods, the new functional food company formed by Organic and
Natural Products industry pioneer Steve Demos (Founder and former President of
WhiteWave, Inc., makers of Silk® soymilk) and seasoned industry and former
WhiteWave veteran Todd Beckman, today announced a $16 million investment,
led by Seattle-based venture capital firm Maveron LLC. Maveron,
co-founded by Dan Levitan and Starbucks CEO Howard Schultz, is investing in NextFoods
and its new GoodBelly™ brand of probiotic fruit drinks to enable the
company to cement its leadership position in the fast growing probiotics market
through a variety of consumer marketing programs designed to build awareness
and drive increased sales and distribution.  Various investors, highly
experienced in the natural products industry, also participated.
GoodBelly is the first fruit-based, dairy-free probiotic product of its
kind in the United States.  Licensed from Probi AB, a Swedish biotech
company and a leading player in the field of probiotic research and development
of effective and well-documented probiotics, the patented and proprietary
probiotic Lp299v has been clinically tested and proven for 15 years to
improve overall digestive regularity and promote immunity.  With exclusive
North American rights to Lp299v, NextFoods plans on continuing to work
with Probi to expand the offerings in its NextFoods portfolio.
GoodBelly is currently available in two product lines – GoodBelly
Probiotic Fruit Drink and GoodBelly Multi – and is distributed
nationwide at 1,500 stores, including Whole Foods Market and grocery chains
such as HEB, Publix, Wegmans and Giant Eagle.
NextFoods was formed earlier this year with a mission of developing and
marketing world-class, functional foods and products with scientifically proven
nutritional benefits.  Probiotics – which are ‘healthy bacteria’ that help
maintain the natural balance of organisms (microflora) in the intestinal tract
– are an $11 billion global product category and one of the hottest domestic
food trends for 2008.  Probi AB, patent-holder for the proprietary Lp299v
probiotic strain, is the dominant biotech company licensing unique and
highly effective strains of these healthy bacteria to food and supplement manufacturers
“Maveron’s stellar reputation and strong branding philosophy made them an ideal
investment partner for us,” said Steve Demos, CEO and Founder of NextFoods.
“It’s our vision to create a strong portfolio of world-class, “next generation”
food and beverage brands that are nutritionally superior, appealing and also
accessible to modern, health-conscious consumers everywhere.  The
advancement of human health and nutrition is our new frontier, and Maveron’s
partnership with us will help make this vision a reality for the 40% of
Americans with occasional or chronic digestive issues.”
“Maveron believes that the health benefits of probiotics will make them an
ubiquitous consumer product domestically, and that Steve and Todd have the
vision and execution ability to make NextFoods a market leader,” said Maveron
LLC Co-Founder Dan Levitan. “We have seen the tremendous success which they
created with the soymilk category and Silk® and believe that NextFoods has the
opportunity to achieve even greater success in the probiotic category today.” 
About NextFoods
NextFoods is the new nutrition venture for Steve Demos, Natural Foods
pioneer and the Founder and former President of WhiteWave Inc., and Todd
Beckman, former Vice President of Business Development and Operations at
WhiteWave, the largest producer and marketer of soy-based products (Silk®
brand) in the United States.  Based in Boulder, Colorado, NextFoods
adheres to a mission which fosters the continuous improvement of human nutrition
while demonstrating the values of “Right Livelihood” for responsible and
conscious capitalism. The team at NextFoods is comprised of seasoned and
passionate industry pros committed to developing a series of world-class,
highly nutritious, functional, “next generation” foods while using sustainable,
socially responsible organic practices whenever possible.  GoodBelly
Probiotic Fruit Drinks – the first brand in NextFoods’ portfolio – features GoodBelly,
quart-sized fruit drink line designed for modern, health-conscious
families, and GoodBelly Multi, a line of single serving fruit drinks
featuring concentrated probiotics, vital minerals and a 100 percent daily value
of 9 essential vitamins. GoodBelly products are dairy-free, soy-free,
wheat-free and vegan, and available nationwide at Whole Foods Market and select
top-tier grocery chains across the country.  To learn more about NextFoods
and GoodBelly products, please visit us at
<> .
About Maveron
Maveron is a leading venture capital firm based in Seattle, Washington.
  Dan Levitan and Howard Schultz founded Maveron in January 1998 with
the goal of building a firm that would be recognized as the premier financial
and strategic partner to leading consumer-based businesses.
Maveron’s mission is to partner with entrepreneurs in the creation of
extraordinary companies in order to generate outstanding financial returns.
 Current representative Maveron investments include fast-growing consumer
companies, such as Potbelly Sandwich Works, Pinkberry and KidZui and monetized
investments, such as eBay (NASDAQ: EBAY), Capella Education Company
(NASDAQ:CPLA), Shutterfly (NASDAQ:SFLY), Cranium (acquired by Hasbro
NASDAQ:HAS), Qsent (acquired by TransUnion), Quellos (acquired by Blackrock
NASDAQ:BLK), Good Technology (acquired by Motorola NASDAQ:MOT) and lucy
activewear (acquired by VF Corporation NASDAQ:VFC).   
Maveron has approximately $850 million under management and 23 active portfolio
companies nationwide.  Maveron invests up to approximately $20 million in
our portfolio companies and look to partner with a small number of new
companies each year.  For more information about Maveron, visit <> .
About Probi
Probi is a leading player in probiotic research and development. The
company’s research is carried out using living micro-organisms with
scientifically proven health effects. The main research areas are: stomach and
gastrointestinal tracts, immune defense, metabolic
disorders as well as stress and recovery. Probi’s business concept is based on
offering efficient and well-documented probiotic product concepts with
comprehensive patent protection, which result in the possibility of
considerably higher royalty levels than for the sector as a whole. Probi’s
customers include leading companies in the functional foods and  dietary
supplements marketing areas. Since the middle of the 1990s, the Company has had
continuous income from commercialized products. The global market for probiotic
products shows a favorable underlying growth. New insight into the advantages
of probiotics, an increasingly greater health interest and authorities’
increasing documentation demands and regulations are the primary trends that
support Probi.  Probi’s shares are listed on the Nordic Exchange. For
further information, visit