Why we invested in Mama Foods

a Mexican VC
3 min readApr 9, 2024


The Latin Online Supermarket in USA

DILA Capital Series “Why we Invested”

This post was written by the DILA Capital team as part of Series “Why We Invested” . . .

The U.S. market for ethnic groceries tailored to Latinos presents a significant opportunity, with ethnic food items and groceries increasingly gaining popularity among mainstream retailers. This growing trend aligns with the desires of a demographic driven by nostalgia. Despite the ever-increasing presence of ethnic groceries, the majority of the market still leans heavily towards traditional offline retail models. This landscape presents a unique chance to tap into the expanding direct to consumer e-commerce channel, aiming to cater to a demand within a market ripe for digital innovation and direct consumer engagement.

According to Venture Capital literature, every investor’s biggest dream is an amazing team, in a huge market with a highly scalable product. DILA Capital’s recent venture into the Hispanic food market in the United States encapsulates this opportunity. Our investment in Mama Foods highlights the need for an outstanding team operating in a substantial market with an online-first, highly scalable business model.

Exceptional Team

Mama Foods was co-founded by Sam Cohen and Nicolas Maslowski, who bring a wealth of experience from their tenure in tech startups and entrepreneurship, having made their marks at companies like Lyft, PriceSmart, and DoorDash. Their knowledge in food delivery, supply chain logistics, e-commerce, and technological innovation stands at the core of our investment decision. Their profound market insight, paired with their personal journey as Venezuelans in the United States for over a decade, grants them a unique perspective in addressing the needs of the Hispanic community. Additionally, the team’s ability to navigate the cultural and culinary preferences of Latin Americans in the United States is invaluable.

Huge Market

The market landscape reveals the increasing significance of the Latino population in the United States, projected to surpass 75 million by 2030. A report from the University of California places Latinos in the United States as the world’s 5th largest economy with a GDP of US$3.2 trillion in 2021.

DILA Capital’s investment team identified the following opportunities within the market:

Consolidation Trends: The acquisition of medium-sized ethnic grocery chains by traditional offline retail giants to better serve this demographic underscores a notable trend towards consolidation, demonstrating the increasing attractiveness of the product category.

Home Cooking Preference: The increasing tendency among consumers to prepare meals at home drives a consistent demand for authentic, culturally significant ingredients, further bolstered by a direct-to-consumer channel. Moreover, Hispanic consumers demonstrate a higher propensity towards online shopping (49%) compared to the national average (45%).

Culinary Diversity: With 57% of the Hispanic population in the United States being of Mexican origin, the market’s disproportionate focus on Mexican cuisine presents a multi-billion-dollar opportunity to cater to the culinary needs of the remaining 43% of the Latino population.

Geographic Concentration: The concentration of over 60% of the Latino population in just four states (California, Texas, Florida, and New York) provides a significant opportunity for streamlined logistics, simplified distribution, and effective market penetration through a dedicated e-commerce approach.

The success of platforms such as Weee! in the Asian food market indicates the potential for Mama Foods in the Hispanic sector. With a similar business to consumer model targeting a demographic three times larger, Mama Foods is proving the market’s readiness and demand for specialized ethnic food e-commerce platforms.

Scalable Business Model

Mama Foods employs an asset-light, direct-to-consumer model that not only satisfies the demand for accessible Hispanic foods but also capitalizes on the increasing trend towards online grocery shopping. With an emphasis on scalability and customer experience, Mama Foods has shown promising early results, especially in its ability to broaden its product range and penetrate a large, underserved market.

Initially focusing on Venezuelan cuisine, Mama Foods has successfully expanded its offerings to include Colombian products and very soon a Peruvian and Argentine offering, marked by significant market acceptance, solid unit economics, and enthusiastic user engagement.

Investing in Mama Foods goes beyond financial support, it’s about partnering with a visionary team ready to redefine the Hispanic food market in the United States. DILA Capital is excited to contribute to Mama Foods’ journey, leveraging our resources and network to accelerate its path to becoming a market leader in the ethnic food space.



a Mexican VC

Alejandro Diez Barroso. General Partner @ DILA Capital, a venture capital firm focused on Latin American and Hispanic startups.