CPG Funding Trends: Capital Gets More Targeted - FABID by Northhall Q1 2026 Report

The Q1 2026 funding report from Northhall paints a picture of a funding environment that is cooling, but not collapsing. Total investment in food, beverage, and CPG brands reached approximately $340M, marking a 13% decline quarter-over-quarter as deal volume also pulled back. Yet beneath the slowdown, stability is emerging: average check sizes held steady and median investment actually increased, signaling that while fewer deals are getting done, capital is still flowing to certain opportunities.

More notably, the data reveals a shift in where that capital is going. Investment is concentrating in growth-stage rounds, with Series A and B deals accounting for a significant share of funding, while early-stage activity remains more constrained. At the same time, deal sizes are clustering in the mid-range, and standout transactions, from functional foods to better-for-you beverages, highlight continued investor interest in brands with clear traction and differentiation. The takeaway: this is a more selective, disciplined market, where capital isn’t disappearing, it’s becoming more targeted.

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