A venture capital firm geared toward investing in consumer goods companies has hit a fundraising milestone.
H Venture Partners, the Hyde Park firm run by founder Elizabeth Edwards and partner Madeleine Ludlow, announced Tuesday it has reached $10 million in assets under management to round out 2020.
That's a major milestone of a woman-owned firm since only 1% of the $70 trillion investment industry is managed by women or minority managers, according to the James L. Knight Foundation.
“We are proud to have female, Black and Latinx representation at every level of our firm — from our investors to our portfolio companies, our partners to our employees," Edwards said in a statement.
H Venture Partners specializes in investing in consumer-focused companies. Edwards has long maintained that since women drive 85% of consumer purchases and account for a large percentage of founders within the retail space, women investors are well-suited to spot potential success stories.
In 2020, the firm invested in seven companies at a variety of levels, the release states. Its portfolio companies include: Kinship (Gen-Z clean skincare 93% effective in fighting acne using a proprietary microbiome), Cerebelly (patented line of baby food targeted at brain development), Felix (telemedicine and pharmacy delivery), Hazel (novel incontinence wear), and Parsley Health (holistic primary care and telemedicine).
In a statement to Cincy Inno, officials said they hope to close an additional five to eight deals in 2021, with plans to raise another $10 to $15 million this calendar year.
