BRANDPROJECT ANNOUNCES CLOSE OF $54 MILLION FUND
Leading consumer venture investor to propel consumer businesses alongside passionate founders beyond the early stage.
–
TORONTO, March 10, 2021 /CNW/ – BrandProject LP (“BrandProject“), an investor in next generation consumer product, service, and technology companies, announced the final closing of its fund, BrandProject Capital Fund LP (“BrandProject Capital” or the “Fund”) with C$54 million of capital commitments. The Fund received strong support from a broad base of investors, including entrepreneurs and leaders in the consumer product and technology areas.
“We are delighted to have exceeded our original fundraising target for the Fund,” said Andrew Black, founder of BrandProject. “In addition to a strong contingent of returning investors, we are thrilled to welcome our BrandProject founders/CEOs and entrepreneur advisors. With the close of BrandProject Capital, we now have the ability to support founders as they scale, beyond the early stage”.
The partnership with BrandProject was a key driver in the early success of Freshly”, said Michael Wystrach, founder of Freshly, which sold to Nestle in 2020 for US$1.5B. “The business benefitted significantly from being able to leverage their experience, their marketing depth and their willingness to collaborate so effectively to develop this great brand. Building on our experience, I am excited to partner with the BrandProject team as an investor and advisor”, he added.
In 2020, BrandProject Capital completed six portfolio investments in disruptive consumer companies. These include sports nutrition business Gainful, healthcare platform Felix, next generation cookware and dinnerware business Our Place, online used car platform Clutch, personalized skincare business Atolla, and Peachy, which is building a network of wrinkle prevention studios for millennials. BrandProject Capital currently plans to add up to 12 additional industry disruptors to its portfolio.
The BrandProject operating team bring more than seven decades of complementary experience in the consumer industry from working with iconic brands including Virgin, Nike, Lego, Microsoft, Cadbury and Diageo. BrandProject’s unique model is designed to help founders accelerate, build and scale their businesses.
Since its formation in 2013, BrandProject has invested in 22 companies with seven having been acquired to date, including Freshly and Persona Nutrition (acquired by Nestle), Hello Products (acquired by Colgate Palmolive), Chefs Plate (acquired by Hello Fresh) and Surf Easy (acquired by Opera Software/ Symantec).
About BrandProject
BrandProject invests in and supports exceptional early-stage founders today, as they build, launch and scale the iconic consumer brands of tomorrow. We are one of North America’s leading early-stage investors focused on making investments in next generation consumer product, service, and technology companies. BrandProject’s unique model blends support for strategic planning, operational capacity building, brand and marketing depth and more to maximize brand and business value alongside founders. Drawing upon more than seven decades of global brand expertise across a diverse range of global category leaders, the BrandProject team identifies market disruptor investment opportunities from pre-seed to series A. For more information, visit brandproject.com.
SOURCE BrandProject
For further information: Media Contact: Andrew Bridge – andrew.bridge@brandproject.com