Green Zebra lands first half of a $2.2M funding round

Cathy Cheney | Portland Business Journal

Lisa Sedlar's Green Zebra wants to eventually raise $2 million as it opens its first three Portland stores. The company is halfway there, according to an SEC filing.

Portland’s incoming healthy convenience store has indeed collected on at least part of the money it expected to nab before opening its first outlet this fall.

Green Zebra Grocery LLC, a venture of former New Seasons CEO Lisa Sedlar, reported Thursday it has landed $1.1 million of its hoped-for $2 million funding round. The company filed documents with the Securities and Exchange Commission indicating it made the offering’s first sale on May 8. The documents also indicate the round won’t last longer than a year.

Sedlar told Sustainable Business Oregon in January that she’d wanted to put $1 million into opening the first Green Zebra store, at the corner of Lombard and Peninsular in North Portland’s Kenton neighborhood.

She also said she’d wanted to raise several millions, along with adding her own funds to the mix, to help back other locations.

Green Zebra’s first round comes in the form of equity and “Series A units and common units, if any, issued on conversion thereof,” according to her filing.

Nine investors participated in the round, which sought minimum investments of $100,000. The filing didn’t list the investors by name.

Sedlar had said in January that New Seasons is a minority investor in the venture.

The company announced earlier this month it would open a location on Southeast Division Street, to go with another Southeast Portland location in the Woodstock neighborhood, sometime next year. Sedlar hasn’t set a date for the Woodstock opening.

Sedlar told SBO last week the company has hired several key staff members to help launch the new grocery.

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