©VMG Partners
Private equity firm VMG Partners has closed a $850 million growth fund, which it will use to invest in consumer packaged goods (CPG) companies.
VMG Growth Fund V will continue to invest in entrepreneurial early and late stage consumer focused companies to support the growth and strategic development of brands.
The firm’s $850 million target was raised in approximately three months. Following the closure of the fund, VMG’s assets under management have increased to approximately $2.6 billion.
Since its inception in 2005, VMP has provided financial resources and guidance to over 40 companies in the food and beverage, wellness, and beauty sectors. These include Daily Harvest, Kind Healthy Snacks, Nutpods, Justin’s, Lily’s Sweets and Spindrift.
In 2019, it acquired the Popchips brand under its new Velocity Snack Brands platform.
“In the past fifteen years VMG Partners has brought their expertise to the CPG space and during that time we have developed strong relationships with our investors. These long-term limited partners have been great assets and strategic mentors in building the VMG franchise,” said Mike Mauzé, general partner at VMG Partners.
Robin Tsai, general partner at VMG Partners, added: “We’re excited to continue to partner with founders who inspire us. We deeply value their ambition, and their motivation to create opportunities for women, BIPOC, and other underrepresented communities.
“As we continue our mission to partner with founders to build prominent brands, our goal is to spearhead more diversity and inclusion in the CPG space.”
© FoodBev Media Ltd 2024