H Venture Partners brought together more than 75 consumer and retail manufacture experts to invest in its first money, invoking $10 million aimed at consumer brand startups backed by science.
Founder and Managing Partner Elizabeth Edwards( painted above) worded the Cincinnati-based venture capital firm in 2017 after 15 years as a VC at other firms, most notably investing in companies, including Peloton, Bill.com, Roots and Freshly.
“Venture financiers tend to stay away from consumer and science-based investments because they don’t imagine consumer firebrands can be technological, ” Edwards said in an interrogation. “However, “youre seeing” all of the technology that goes into lettuce being germinate and the parcel engineering needed to get it from Point A to Point B without it being spoiled. We cherish that kind of stuff — where Mother Nature, science and human behavior come together in a consumer brand.”
Check sizes from the fund average $500,000, and H Venture is targeting female founders and founders of coloring. Edwards says that is in line with statistics testifying 85 percent of shopper acquires are made by females, while 93 percentage of venture capital is managed by white males. In additive, consumer purchases represent 69 percentage of U.S. gross national product, but simply 3 percent of venture capital investments, she added.
H Venture has already infused capital into 10 business with a aim toward 15 investments, she said. It looks for the kinds of brands that could be imagined on a supermarket shelf in a retailer, such as Sephora or Target, Edwards added.
A Sephora store shelf, and an yearn back, is actually how she found out about CBD brand Prima, started by The Honest Company founder and former Chief Purpose Officer Christopher Gavigan. H Venture co-led Prima’s $9.2 million seed round in May with Defy Marriage, Greycroft and Lerer Hippeau.
Edwards said she “became a believer” in Prima , is not simply because it was a symbol she discovered when she needed it, but also the profusion of third-party testing and certifications the company had, as well as Prima’s leveraging of the quantity series and endeavours of being more than a CBD brand.
H Venture’s initial portfolio also includes baby food maker Cerebelly and clean-living wine firm Avaline, founded by Cameron Diaz and Katherine Power.
“Avaline is not a fame label like you would find on social media, but Cameron Diaz wrote two notebooks on clean-living wines and is passionate about performing wine the’ old world way, ’” Edwards said.
Meanwhile, the new money plucks together a structure of benefactors, industrialists and investors from top consumer and retail companionships, half of whom are female, to provide an expertise to startups that Edwards considered unparalleled to Silicon Valley firms. Most of the funds’ benefactors are parties with more than 35 times in the retail and customer opening, guiding billion-dollar companies.
“The consumer expertise we have is phenomenal; for example, we have the world’s foremost professional on diapers and on newborn nutrient, ” she said. “He’s not just an investor, he is your board member. H Venture doesn’t claim to be experts in everything, instead we have an incredible network of executives, and facilitating startups is how they want to invest their time.”
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