AUSTIN, TEXAS — Springdale Ventures has closed on its second funding round, which raised $40 million in capital for furthering its goal on investing in early-stage consumer brands. Fund II features returning limited partners, family offices, entrepreneurs, and athletes. The company’s first fund, Springdale’s Fund I, launched in 2019. Springdale is a venture capital firm founded by Genevieve Gilbreath, co-founder and general partner, and Dan Graham, entrepreneur and operator. The partners tap into a vast network of entrepreneurs, operators and investors to help founders overcome challenges and achieve meaningful scale.
The funding will enable the company to continue investing in emerging consumer brands among the food, beverage, pet, health and beauty industries. Its second funding round has invested in approximately 14 companies like whiskey brand Big Nose Kate; Branch, an office furniture company; Gales, a shoe company for the health care industry; BloxSnacks, a creator-led consumer brand geared toward generation alpha; and Nectar, an Asian-inspired hard seltzer company.
The company has supported and led multiple funding rounds for other CPG companies in recent years such as Acid League raising $6 million in funding, KOS raising $12 million in a Series A round, and Tiny Organics raising $11 million in Series A funding.
“We are extremely grateful for the trust that our investors place in us to champion early stage consumer investing as a valued asset class,” Ms. Gilbreath said. “In the United States, almost 40% of private equity capital capitalizes software companies, leaving the consumer sector significantly underfunded, yet, the consumer market constitutes a substantial 70% of the US GDP. For investors who understand the category, there is a huge white space opportunity for capital allocation within early-stage consumer brands. I’m proud that Springdale is not only leading that charge, but also giving talented founders the access and capital they need to thrive, in addition to hands-on, tangible advice from our own experiences as founders.”
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