The cold storage industry in the US plays a vital role in ensuring the safety and quality of temperature-sensitive goods, especially food and pharmaceuticals. Companies involved range from logistics providers to specialized cold storage facilities equipped with advanced technology. Their offerings include refrigerated warehousing, transportation, and inventory management, catering to businesses across various sectors, including retail and manufacturing. As consumer demand for fresh and frozen products rises, the industry is evolving towards automation and innovative cold chain solutions. Sustainability is also key, pushing firms to adopt energy-efficient practices to meet environmental standards while ensuring product integrity.

The 12 notable investors on this list reflect a variety of backgrounds, with venture capital and private equity firms headquartered in key financial hubs such as New York City and Washington, D.C. Ranging from small teams to large organizations managing thousands, these investors were founded between 1956 and 2023. In 2024, their deal count spanned numerous industry sectors, reinforcing their strategic focus on the cold storage market. Each investor brings unique strengths, financial acumen, and resources to support the growing demands of the cold storage landscape.

Top 12 Cold Storage Investors in the US

1. Lineage

• Website: onelineage.com
• Type: Corporate
• Headquarters: Novi, Michigan, United States (USA)
• Founded year: 2012
• Headcount: 10001+
• Number of deals in 2024: 4
• LinkedIn: lineage-logistics

Lineage, Inc. is a logistics company based in Novi, Michigan, specializing in temperature-controlled warehousing and supply chain solutions. Founded in 2012, Lineage has rapidly grown to become a leader in the cold storage industry, providing a wide range of services that include cold storage, transportation, and food processing support, primarily for businesses in the food sector. The company has made several strategic acquisitions to enhance its cold storage capabilities, including the acquisition of U.S. Growers Cold Storage in 2018, which added eight temperature-controlled warehouses in Southern California. In 2019, Lineage acquired Preferred Freezer Services for over $1 billion, positioning itself as the largest public refrigerated warehouse operator globally. Other notable transactions include the acquisition of VersaCold Logistics Services in 2022, Henningsen Cold Storage Co. in 2020, and the Kloosterboer Norway facility, further solidifying their presence in the cold storage market. With operations spanning multiple countries, Lineage ensures efficient management of the cold chain from production to delivery.

2. Y Combinator

• Website: ycombinator.com
• Type: Venture Capital
• Headquarters: San Francisco, California, United States (USA)
• Founded year: 2005
• Headcount: 51-200
• Number of deals in 2024: 802
• LinkedIn: y-combinator

Y Combinator is a prominent startup accelerator and venture capital firm based in San Francisco, California, founded in 2005. It provides funding and mentorship to early-stage technology companies through a structured program that includes resources like the Startup School and co-founder matching services. Over the years, Y Combinator has successfully launched more than 4,000 startups, making it a key player in the technology startup ecosystem. Among its diverse portfolio, Y Combinator has invested in StowNest Storage, which raised $125,000 in a pre-seed round in August 2021, indicating its engagement in the cold storage sector. This investment, along with others in logistics and storage-related startups, showcases Y Combinator's interest in supporting innovative solutions within the cold storage industry.

3. FJ Labs

• Website: fjlabs.com
• Type: Venture Capital
• Headquarters: New York, New York, United States (USA)
• Founded year: 2015
• Headcount: 11-50
• Number of deals in 2024: 169
• LinkedIn: fj-labs

FJ Labs is a venture capital firm based in New York, founded in 2015, that specializes in investing in marketplace and network effect businesses. They provide capital and strategic guidance to entrepreneurs across various industries, including e-commerce and logistics. With over 1,000 companies in their extensive portfolio, many of which have achieved unicorn status, FJ Labs has established itself as a significant player in the venture capital landscape. Notably, they have invested in Flexport, a leading freight company that raised substantial funding rounds, including $65 million in Series B and $1 billion in Series D, highlighting their commitment to logistics and supply chain innovation. Additionally, their investment in Boxhub, which focuses on international expansion and product development, further emphasizes their interest in companies that may intersect with cold storage needs.

4. IFC - International Finance Corporation

• Website: ifc.org
• Type: Venture Capital
• Headquarters: Washington, D.C., District Of Columbia, United States (USA)
• Founded year: 1956
• Headcount: 1001-5000
• Number of deals in 2024: 107
• LinkedIn: ifclinkedin

The International Finance Corporation (IFC) is a not-for-profit organization established in 1956, dedicated to fostering private sector development in emerging markets. Based in Washington, D.C., IFC provides investment, advisory, and asset management services to businesses and financial institutions, helping them access capital and expertise to promote economic growth. IFC operates in over 100 countries, addressing poverty and promoting sustainable development. Notably, IFC has made significant investments in the cold storage sector, including a $9.4 million equity investment in Ifria, a US-based cold chain specialist, to support the expansion of its temperature-controlled logistics warehouse facilities in Morocco and Senegal. Additionally, IFC acquired a 20% stake in Building Logistics Services (BLS), further emphasizing its commitment to enhancing logistics capabilities, which may include cold storage solutions. These transactions highlight IFC's active role in the cold storage industry, making it a relevant investor in this space.

5. Tiger Global

• Website: tigerglobal.com
• Type: Venture Capital
• Headquarters: New York, New York, United States (USA)
• Founded year: 2001
• Headcount: 51-200
• Number of deals in 2024: 25
• LinkedIn: tiger-global-management

Tiger Global Management, LLC is a prominent investment firm based in New York, specializing in both public and private equity investments. Founded in 2001, the firm manages approximately $50 billion and focuses on innovative companies leveraging technology. Its clientele includes institutional investors and high-net-worth individuals seeking expert investment management and advisory services. Notably, Tiger Global has invested in logistics and warehousing companies, such as Flexe, which raised $119 million in a Series D funding round in July 2022, and Loadshare Networks, a logistics startup that secured $40 million in a Series C funding round in February 2022. These investments highlight Tiger Global's engagement in sectors that are closely related to cold storage, as efficient logistics and warehousing are essential for cold storage operations.

6. Blackstone

• Website: blackstone.com
• Type: Private Equity
• Headquarters: New York, New York, United States (USA)
• Founded year: 1985
• Headcount: 1001-5000
• Number of deals in 2024: 57
• LinkedIn: blackstonegroup

Blackstone Inc. is a leading investment management firm based in New York, specializing in alternative investments across various sectors, including private equity, real estate, and credit solutions. Founded in 1985, Blackstone has built a reputation for delivering lasting value through its extensive portfolio and strategic investment approaches. Notably, Blackstone has made significant investments in the logistics and warehousing sectors, which are integral to the cold storage industry. For instance, their investment in LifeScience Logistics highlights their engagement with companies that manage temperature-sensitive products, essential for cold storage. Additionally, their acquisition of a stake in multiple warehousing companies, including Allcargo Multimodal Private Limited, further emphasizes their commitment to enhancing logistics capabilities, which are crucial for effective cold storage solutions. These transactions reflect Blackstone's strategic interest in sectors that support the cold storage industry, making them a relevant player in this space.

7. Deep Tech Fund (an Alumni Ventures Fund)

• Website: av.vc
• Type: Venture Capital
• Headquarters: Manchester, New Hampshire, United States (USA)
• Founded year: 2023
• Headcount: 51-200
• Number of deals in 2024: 258
• LinkedIn: deep-tech-fund-av-focused-fund

The Deep Tech Fund, part of Alumni Ventures, is a venture capital firm based in Manchester, New Hampshire, founded in 2023. It provides accredited investors and institutions with access to professionally-managed, diversified venture portfolios. With a network of over 10,000 investors, the firm focuses on connecting them with high-quality investment opportunities in the startup ecosystem. Notably, the fund has made significant investments in the cold storage sector, including a recent seed round investment in Coldcart, which raised $6,546,893 in June 2024. This investment highlights the fund's commitment to exploring innovative solutions within the cold storage industry. Additionally, their portfolio includes other companies like Flexe and OneRail, which, while not exclusively focused on cold storage, operate in logistics and supply chain management, areas that are closely related to cold storage operations.

8. Kkr

• Website: kkr.com
• Type: Private Equity
• Headquarters: New York, New York, United States (USA)
• Founded year: 1976
• Headcount: 1001-5000
• Number of deals in 2024: 74
• LinkedIn: kkr

KKR & Co. Inc. is a prominent investment firm based in New York, specializing in private equity, credit, infrastructure, and real estate. Founded in 1976, KKR has built a global presence, providing asset management solutions to institutional investors and individual clients. The firm has been involved in various significant transactions, including the acquisition of Central Tank Terminal Co., Ltd., a Japanese chemical storage tank operator, for approximately $440 million. This acquisition highlights KKR's interest in storage solutions. Additionally, KKR's acquisition of LEAP India, a leading pallet pooling platform, reflects their strategy to enhance logistics and supply chain efficiencies, which are critical components of cold storage operations. KKR's diverse investment portfolio and strategic focus on infrastructure and logistics make them a noteworthy player in the cold storage investment landscape.

9. Stonepeak

• Website: stonepeak.com
• Type: Private Equity
• Headquarters: New York, New York, United States (USA)
• Founded year: 2011
• Headcount: 201-500
• Number of deals in 2024: 16
• LinkedIn: stonepeak-partners

Stonepeak is a private equity investment firm based in New York, specializing in infrastructure and real estate investments. Founded in 2011, the firm manages assets on behalf of large institutions, including pension funds and endowments, with a focus on creating value through strategic investments in critical infrastructure that supports daily life. Notably, Stonepeak has made significant investments in the cold storage sector, including a leading role in funding Emergent Cold Latin America, which raised $500 million to expand its refrigerated storage and logistics solutions across the region. Additionally, Stonepeak has invested in Lineage Logistics, the world's largest temperature-controlled logistics provider, contributing to its substantial capital raises aimed at enhancing cold storage capabilities. These transactions highlight Stonepeak's commitment to driving growth and sustainability in the cold storage industry.

10. Warburg Pincus LLC

• Website: warburgpincus.com
• Type: Private Equity
• Headquarters: New York, New York, United States (USA)
• Founded year: 1966
• Headcount: 501-1000
• Number of deals in 2024: 24
• LinkedIn: warburg-pincus

Warburg Pincus LLC is a leading global private equity firm specializing in growth investments, founded in 1966 and based in New York, New York. With over $83 billion in assets under management, the firm partners with management teams across various sectors, including healthcare, technology, and financial services. Notably, Warburg Pincus has made significant investments in logistics, such as a $255 million investment in BlueGrace Logistics in 2016, aimed at fueling rapid growth and strategic acquisitions. This investment highlights their engagement in sectors that are integral to the cold storage industry, as logistics plays a crucial role in the distribution and management of temperature-sensitive goods. Additionally, their diverse portfolio of over 225 companies worldwide reflects their broad investment strategy, which includes sectors that intersect with cold storage operations.

11. Morgan Stanley

• Website: morganstanley.com
• Type: Venture Capital
• Headquarters: New York, New York, United States (USA)
• Founded year: 1986
• Headcount: 10001+
• Number of deals in 2024: 79
• LinkedIn: morgan-stanley

Morgan Stanley is a leading investment bank and financial services firm founded in 1986, headquartered in New York, New York. The firm offers a wide range of services including wealth management, investment banking, and capital markets, serving individuals, families, corporations, and governments globally. Notably, Morgan Stanley has made significant investments in the cold storage industry, including a $1.6 billion investment in Lineage Logistics in September 2020, which is a major player in the cold storage and logistics sector. This investment highlights Morgan Stanley's commitment to supporting companies that enhance supply chain efficiency and food safety through temperature-controlled storage solutions. Additionally, their involvement in various sectors, including infrastructure and energy, showcases their broad investment strategy while still maintaining a focus on critical industries like cold storage.

12. UPS Supply Chain Solutions

• Website: ups.com
• Type: Corporate
• Headquarters: Alpharetta, Georgia, United States (USA)
• Founded year: 1907
• Headcount: 10001+
• Number of deals in 2024: 3
• LinkedIn: upssupplychainsolutions

UPS Supply Chain Solutions, a division of United Parcel Service, Inc., is a leading logistics company based in Alpharetta, Georgia. Founded in 1907, UPS provides comprehensive shipping and supply chain solutions to a diverse range of customers, including businesses and consumers. The company operates a vast network that ensures efficient transportation of goods globally. In recent years, UPS has made significant acquisitions to bolster its capabilities in specialized logistics sectors. Notably, in 2024, UPS acquired Frigo Trans, a company likely focused on temperature-controlled logistics, enhancing their cold storage capabilities. Additionally, they acquired Biotech & Pharma Logistics, which specializes in the life sciences sector, further indicating their commitment to cold chain logistics. These strategic moves position UPS as a key player in the cold storage industry, alongside their broader logistics operations.

Cold Storage Insights: Key Investors in the US

Investor	Headquarter	Size	Founded	Deals 2024
Lineage	Novi, Michigan, United States (USA)	10001+	2012	4
Y Combinator	San Francisco, California, United States (USA)	51-200	2005	802
FJ Labs	New York, New York, United States (USA)	11-50	2015	169
IFC - International Finance Corporation	Washington, D.C., District Of Columbia, United States (USA)	1001-5000	1956	107
Tiger Global	New York, New York, United States (USA)	51-200	2001	25
Blackstone	New York, New York, United States (USA)	1001-5000	1985	57
Deep Tech Fund (an Alumni Ventures Fund)	Manchester, New Hampshire, United States (USA)	51-200	2023	258
Kkr	New York, New York, United States (USA)	1001-5000	1976	74
Stonepeak	New York, New York, United States (USA)	201-500	2011	16
Warburg Pincus LLC	New York, New York, United States (USA)	501-1000	1966	24
Morgan Stanley	New York, New York, United States (USA)	10001+	1986	79
UPS Supply Chain Solutions	Alpharetta, Georgia, United States (USA)	10001+	1907	3

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