ICA Fund invests in B.T.R. Nation

ICA Fund Invests in BTR Nation: Supporting Bold, Tenacious, and Resilient Female Entrepreneurship

We are thrilled to announce that ICA Fund has invested in BTR Nation, a trailblazing, plant-based, low-sugar, and gluten-free protein bar and confectionery brand on a mission to redefine healthy snacking. BTR Nation is making waves by offering nutrient-dense superfoods and adaptogen-based snacks that not only taste great but also deliver powerful health benefits.

Founded in 2020 by Ashley Nickelsen, BTR Nation was born out of her personal experience. As a primary caretaker for both of her parents during their cancer diagnoses, Ashley saw firsthand the unhealthy, sugar-laden options available in hospital vending machines. Motivated to create something better for those constantly on the go, she developed snacks that meet her high standards for clean, functional ingredients. With a focus on improving America's food system, BTR Nation aims to deliver snacks that fuel families with real, nutritious, and delicious options.

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"My father was the one who knew that I had something here. Before he passed away, he incorporated the company, and told me to "do something with this one day." He was an entrepreneur at heart and always empowered me to be BOLD, TENACIOUS & RESILIENT, our family mantra aka B.T.R." - Ashley Nickelsen, CEO BTR Nation

With the new investment, BTR Nation is already making big moves. The funds will be used to:

• - Hire new talent, including a VP of Sales & Marketing
• - Support new points of distribution, with launches in Whole Foods, Giant Foods, and Paradies in Q4 2024, while gearing up for even bigger expansion in 2025
• - Double down on new product innovation and brand collaborations, including the development of a high-protein line, candy bars, and nut butter cups.
• - Double e-commerce sales year-over-year for 2025 and 2026.

"We've seen Ashley's incredible growth and passion firsthand," said ICA Fund Chief Investment Officer, John Gough. "Her vision to create healthier snacks for families while staying true to her values of clean, transparent ingredients resonates deeply with ICA's mission to empower diverse founders to build wealth for their communities."

"ICA has been the best container for me to strategize and plan out the next 5 years for my business," said BTR Nation CEO Ashley Nickelsen, "Between financial modeling and developing an intentional hiring strategy, ICA prepared me for the next big high level decisions I needed to make to move my business forward."

BTR Nation's innovative product line is already winning customers across the country, with over 3.5 million bars sold and distribution in over 600 points of distribution. Their products, including protein bars and superfood nut butter cups, have earned rave reviews from Delish, Good Housekeeping, and Vanity Fair and are set to expand further with new product launches in 2024. The company is primed to scale into a household name, partnering with key retailers like Costco.

With ICA's investment and strategic guidance, BTR Nation is poised to lead the healthy snacking revolution, delivering on its promise of functional snacks that taste great and support a healthier lifestyle.

About ICA Fund:
ICA Fund accelerates great businesses through mentoring and investments to uncover value in missed markets and transform communities. Through our support of small businesses throughout the San Francisco Bay Area, we catalyze business growth and help entrepreneurs create wealth for themselves and their employees, driving towards our vision for an economy that works for all.