THE WHAT? Private equity firm L Catterton has launched an impact investment platform, with Tehmina Haider and Michael O’Leary appointed as Partners to lead the strategy.
THE DETAILS According to a press release, “The Impact Fund will partner with the next generation of mission-driven consumer companies, harnessing the firm’s demonstrated ability to build leading and category-defining brands. It seeks to deliver both attractive risk-adjusted returns and significant progress against some of the world’s most pressing social and environmental challenges.”
Leveraging L Catterton’s extensive resources and capabilities to invest and grow consumer companies with environmentally-focused missions, the fund will focus on businesses that mitigate climate change, reduce waste, and preserve nature; eliminate disparities in health, wellness, and nutrition.
THE WHY? The impact fund is said to create a more inclusive economy by expanding access to the financial system and improving education and workforce development.
Michael Chu, Global Co-CEO of L Catterton, said, “Since our inception 33 years ago, we have been proud to back many best-in-class sustainable consumer companies. We are confident that now is the right time to launch a dedicated impact fund platform that will further enable us to support mission-driven entrepreneurs and companies where impact is a core driver of the brand.
“Tehmina and Michael bring deep experience in consumer and impact investing, and we look forward to leveraging their leadership as we establish this platform.”