# Dairy Farmers of America

Dairy Farmers of America is a Pension Fund based in Kansas City, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Kansas City, United States
- **Region:** North America
- **Address:** 1405 N. 98th Street, Kansas City, KS 66111, United States
- **Founded:** 1973
- **Assets under management:** Retirement plan assets $64M (Altss estimate)
- **Website:** www.dfamilk.com
- **LinkedIn:** https://www.linkedin.com/company/dairy-farmers-of-america

## Regulatory record

- **Reports private funds:** No

## About

Dairy Farmers of America formed in 1973 through the merger of four regional cooperatives, creating a dairy marketing and processing giant owned by nearly 10,000 family farms. President and CEO Dennis Rodenbaugh currently chairs the Innovation Center for U.S. Dairy, while Chairman Randy Mooney leads the National Milk Producers Federation — embedding DFA deep within agricultural policy circles. DFA's investment activities blend corporate venture capital with institutional allocation. The cooperative commits to HarbourVest Partners funds of funds, runs a direct venture program spanning seed to late-stage agri-tech and food-tech deals, and maintains exposure to renewable energy through biogas operations. Real assets include multiple processing plants, the St. George ice cream facility in Utah, and a commercial headquarters in Kansas City, Kansas. Dealflow often ties directly to its operational footprint — investments in dairy traceability blockchain technology and diversified applications aerial fleet reflect this hybrid approach. Danelle Bender, SVP and Chief Treasury Officer, manages relationships with lenders and external fund managers from Kansas City while serving on the local Association for Corporate Growth chapter board. Alan J. Bernon, President of DFA Dairy Brands, simultaneously operates Sequel Holdings as a separate investment platform. The organization runs a DFA Cares Foundation for farmer and community support, keeping philanthropic giving structurally separate from both cooperative operations and investment vehicles. DFA's structural differentiator lies in its cooperative DNA — capital deployed through the retirement plan and corporate treasury originates from pooled farmer earnings, not a single family fortune or external fundraise. This creates an investment posture that favors operational adjacency: every commitment typically links back to the cooperative's core dairy business, whether through supply chain technology, processing infrastructure, or adjacent industrial assets. No other US agricultural cooperative runs a comparable venture program alongside a defined-benefit pension allocation.

## Sectors

- AgriTech & FoodTech
- Renewable Energy
- Real Estate
- Private Equity
- Venture Capital

## People

- Dennis Rodenbaugh — President and CEO
- Danelle Bender — SVP and Chief Treasury Officer
- Alan J. Bernon — President of DFA Dairy Brands and Founding Partner of Sequel Holdings
- Randy Mooney — Chairman of the Board

## Questions

### Who runs investment decisions at Dairy Farmers of America?

Danelle Bender, SVP and Chief Treasury Officer, oversees relationships with external fund managers and directs the cooperative's investment activities from the Kansas City headquarters. She manages both the retirement plan allocation and broader treasury investments, serving on the local ACG chapter board alongside this role.

### Does DFA participate in fund commitments or only direct deals?

DFA pursues both fund commitments and direct deals. Its retirement plan commits to fund-of-funds vehicles like HarbourVest Partners, while the cooperative directly invests in venture-stage companies — particularly those involving dairy supply chain technology and adjacent food-tech sectors.

### How is DFA related to the National Milk Producers Federation?

DFA holds significant influence at NMPF — Chairman Randy Mooney serves as NMPF's Chair, and the cooperative participates actively in policy advocacy alongside membership in the U.S. Dairy Export Council and American Dairy Products Institute. These relationships shape the regulatory environment in which DFA's investments operate.

### Where does DFA's investment capital originate?

Capital flows from the cooperative's operating profits generated through raw milk marketing, dairy processing, and branded product sales across its farmer-owned network. The $64 million defined-benefit retirement plan represents one pool of investable assets distinct from corporate treasury allocations.

## Related profiles

- [Community Foundation for the Land of Lincoln](https://altss.com/profile/community-foundation-for-the-land-of-lincoln)
- [Ethel & James Flinn Foundation](https://altss.com/profile/ethel-james-flinn-foundation)

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/dairy-farmers-of-america-inc

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