H Venture Partner It brought together more than 75 consumer and retail professionals to invest in the first fund, raising $ 10 million for science-backed consumer-branded startups.
Founder and Managing Partner Elizabeth Edwards (pictured above) founded a Cincinnati-based venture capital firm in 2017 after working as a VC for another company for 15 years. At companies like Peloton, Bill.com, Roots, Freshly.
“Venture capitalists tend to move away from consumer and science-based investments because they don’t consider consumer brands to be technical,” Edwards said in an interview. “But you can see all the techniques for growing lettuce and the packaging techniques needed to move from point A to point B without compromising lettuce. Mother Nature, Science, Human Behavior. I love that kind of thing that gathers in consumer brands. “
The fund’s check size averages $ 500,000, and H-Venture is aimed at female founders and color founders. According to Edwards, this is consistent with statistics showing that 85% of consumer purchases are made by women and 93% of venture capital is managed by white men. in addition, Consumer purchases make up 69% of US gross domestic product, but only 3% of venture capital investment, she added.
She said the H-venture has already injected capital into 10 companies with a goal of 15 investments. Edwards looks for the kind of brands you can imagine on the shelves of retail stores, such as Sephora and Target.
Sephora store shelves and aching backs are actually the way she learned about the CBD brand Prima, Started by The Honest Company Founder and former Chief Objectives Officer Christopher Gavigan. H-Venture led Prima’s $ 9.2 million seed round in May in collaboration with Defy Partners, Greycroft and Lerer Hippeau.
Edwards is not only the brand he discovered when Prima was needed, but also the company’s numerous third-party testing and certifications, and the desire to be more than Prima’s supply chain and CBD brand.
H-Venture’s first portfolio also includes baby food maker Cerebelly and Avaline, a clean wine company founded by Cameron Diaz and Katherine Power.
“Avaline isn’t the celebrity brand you see on social media, but Cameron Diaz has written two books about clean wines and is passionate about making wine the’old world way’.” Edwards said.
Meanwhile, the new fund is a network of founders, entrepreneurs and investors from top consumer and retail companies to provide expertise to startups that Edwards considers Silicon Valley companies to be unmatched. Rally. Most of the fund’s backers are those who have over 35 years of experience in the retail and consumer sectors and run billion-dollar businesses.
“The consumer expertise we have is astounding. For example, we have some of the world’s leading experts in diapers and baby food,” she says. “He’s not just an investor, he’s a member of your board. H-ventures don’t claim to be all professionals. Instead, we have a great network of executives and Supporting startups is the way they want to spend their time. “
H Venture Partners closes $10M debut fund targeting science-based brands – TechCrunch Source link H Venture Partners closes $10M debut fund targeting science-based brands – TechCrunch