Angeles Investors Announces Funding For Latino-Owned MasPanadas

Last updated on March 13th, 2023 02:31 pm
Angeles Investors Announces Funding For Latino-Owned MasPanadas

Angeles Investors, the angel investor community finding, funding and growing the most promising Hispanic and Latino/a ventures, announced its recent seed investment in MasPanadas, a Rockville, Maryland-based business that makes a modern, American-palate-friendly empanada. Angeles Investors co-led the investment with Union Kitchen Ventures. The deal was led by Angeles Investors member, Louis Caldera, an experienced corporate director.

MasPanadas was founded by Margarita Womack, Ph.D. in 2020. While the business started as a food services operation, it more recently has emerged as a booming frozen packaged food line expanding rapidly into 1,000+ natural and organic retailers, including Whole Foods Market, as well as in hotels, country clubs, and event venues. Margarita was recognized in 2022 as Ernst and Young Entrepreneur of the Year (Mid-Atlantic region) and was named Top CEO of the Year (small business leader) by the Washington Business Journal.

Nearly 50 percent of Angeles Investors portfolio companies are founded by women or have a female CEO.

This investment is a monumental moment for Angeles Investors as it accomplishes two goals: 1) giving more Latina founders access to venture capital, and 2) creating more opportunities for Latinas to join corporate boards.

“I founded Latin Goodness Foods/MASPANADAS with a mission to offer better food for working families and also to provide better jobs that enable better lives for our employees, the majority of whom are fellow immigrants from Latin America,” says Margarita Womack Ph.D., MasPanadas founder. “I am thrilled to partner with Angeles Investors, Inc., who offer the resources, experience, and unique insight needed to continue to grow our business and who share my commitment to engaging and positively impacting Hispanic/LatinX communities. Together, mas is better!”

Monica Hernandez, founder of Mas Global Consulting, a provider of agile software development and technology services with teams in the United States and LATAM, and recognized as a top 3 percent women-owned business per American Express, will be serving on MasPanadas’ Board of Directors.

“I couldn’t be more excited to join the MasPanadas Board. MAS Global and MasPanadas have more than a name in common. Our company missions go beyond making a financial impact and extend deeply into impacting our communities,” says Hernandez. “Our higher purpose and sense of community have brought us together by way of Angeles Investors. By combining the knowledge, ganas and connections of our investor community, we will help MasPanadas reach their full potential.”

“We believe the MasPanadas team, combined with its truly unique approach, will unlock the full potential of the U.S. consumer market,” says Angeles Investors CEO, David Olivencia. “Our firm’s investment philosophy is all about finding the most exciting startups, funding the most disruptive and fastest growing business models and growing the impact of Hispanic and Latino entrepreneurs in the U.S. economy. With MasPanadas, we have discovered the perfect match.”