Investment Firm Prelude Growth Partners Secures $600 Million for a Consumer-Oriented Third Fund
Prelude Growth Partners, a leading growth equity firm specializing in building successful consumer brands at scale, has announced the finalization of its third fund, Prelude Growth Partners III, L.P., with a total of $600 million. The fundraising process was completed in just two and a half months, surpassing its hard cap.
Since its inception in 2017, Prelude Growth has been investing in consumer brands, primarily across beauty & personal care, food & beverage, health & wellness, and other consumer product categories. Notable investments include Sol de Janeiro, Bachan’s, MadeGood, PHLUR, Blueland, Summer Fridays, So Good So You, Skin Pharm, Westman Atelier, Banza, dpHUE, Fly By Jing, Tower 28, Naturium, OneSkin, and more.
Prelude typically invests between $15 million and $75 million per company, acting as a strategic growth partner to accelerate the scaling of these brands. The firm has a proven track record in backing high-growth consumer enterprises, with multiple exits, including Sol de Janeiro and 8Greens.
With the closure of Fund III, Prelude Growth now manages a total of $1.3 billion in assets. The firm's portfolio includes a diverse range of brands such as Sol de Janeiro, Bachan’s, and MadeGood. Proskauer Rose served as the legal counsel for Fund III, and no placement agent was used in the fundraising process.
Alicia Sontag, Managing Partner and Co-Founder of Prelude Growth, emphasizes that the firm acts as highly collaborative partners to founders and management teams, enabling them to maximize the potential of their brands. Sontag states, "Prelude Growth is here to support founders in building iconic brands of the future."
Neda Daneshzadeh, Managing Partner and Co-Founder of Prelude Growth, expresses excitement about the closure of Fund III, which was oversubscribed. Daneshzadeh looks forward to partnering with high-growth consumer entrepreneurs.
Fund III will focus on partnering with high-growth consumer businesses, investing between $15 million and $75 million per investment. Prelude Growth Partners has become a trusted partner for consumer brands, providing strategic and operational support. The limited partner community values Prelude Growth’s disciplined approach.
[1] Prelude Growth Partners website: https://www.preludegrowth.com/ [2] PitchBook data: https://pitchbook.com/profiles/companies/prelude-growth-partners [3] Crunchbase profile: https://www.crunchbase.com/organization/prelude-growth-partners [4] Business Insider article: https://www.businessinsider.com/prelude-growth-partners-raises-600-million-fund-iii-2022-6 [5] TechCrunch article: https://techcrunch.com/2022/06/20/prelude-growth-partners-raises-600-million-for-fund-iii/
- Prelude Growth Partners, a finance firm specializing in growth equity, has raised $600 million for its third investment fund, and will now focus on partnering with high-growth consumer businesses, investing between $15 million and $75 million per company.
- By investing in consumer brands such as Sol de Janeiro, Bachan’s, and MadeGood, Prelude Growth Partners aims to act as a strategic growth partner to accelerate the scaling of these businesses and help founders build iconic brands of the future.
