Bread and Butter Ventures is an early-stage venture capital firm based in Minnesota, known as the "Bread and Butter State." The firm invests globally, leveraging Minnesota’s strong corporate connections, commercial opportunities, and industry expertise to benefit its portfolio companies. Founded in 2017 as The Syndicate Fund, it rebranded to Bread and Butter Ventures in 2020, expanding its focus to include food technology, digital health, and enterprise software as a service (SaaS). The firm has raised multiple funds, with the most recent being a $40 million Fund IV announced in March 2025, marking a 48% increase from its previous $27 million Fund III raised in 2021.

Bread and Butter Ventures has invested in 66 companies across its first three funds, including TradeVerified, SocialCrowd, Chiyo, and VoiceCareAI. The firm's investment strategy is rooted in the Minnesota homefield advantage, leveraging the state's position at the epicenter of global industries in the food system, healthcare, and a high density of Fortune 500 companies. This local expertise and corporate network help portfolio companies commercialize and scale more quickly.

The team includes Managing Partners Brett Brohl and Mary Grove, with Stephanie Rich serving as Partner, Platform. Rich was promoted to partner in December 2024, after leading post-investment support efforts for four years. Bread and Butter Ventures is committed to being founder-first, offering more than just capital by providing ongoing support through its platform to connect startups with the necessary resources and partners for global scaling.