– Prelude Growth Partners announced the first and final close of its third fund, Prelude Growth Partners III, L.P., with $600 million in total commitments.
– Fund III was significantly oversubscribed and closed in less than three months at its hard cap.
– The fund received strong support from a diverse group of institutional investors, including endowments, foundations, pension funds, financial institutions, and family offices.
– Prelude Growth now manages $1.3 billion in assets.
– Fund III continues the firm’s strategy of investing in high-growth branded consumer products and services.
– The fund aims to invest between $15 million and $75 million per company.
– Neda Daneshzadeh, Managing Partner and Co-Founder, credited the rapid and oversubscribed fundraise to investor confidence in the firm’s disciplined approach.
– Alicia Sontag, Managing Partner and Co-Founder, emphasized their role in helping founders build iconic, large-scale consumer brands.
– Prelude Growth positions itself as a highly collaborative partner offering deep consumer expertise and strategic value-add.
– Since its 2017 inception, Prelude Growth has backed successful brands such as Sol de Janeiro, Bachan’s, MadeGood, PHLUR, Blueland, Summer Fridays, So Good So You, Skin Pharm, and Westman Atelier.
– The previous fund, Prelude Growth Partners II, L.P., closed in 2021 with $250 million in commitments.
