Cutting Horse, a boutique growth equity firm focused on founder-led consumer brands, has closed its inaugural fund with $75 million in capital commitments, exceeding its original $50 million target and reaching its hard cap. The oversubscribed fund was raised in less than 12 months and will support the firm’s strategy of partnering with founders building durable, high-growth consumer product and service businesses.
Led by Co-Founder and Managing Partner Chris Protasewich and Co-Founder Michael Wystrach, the firm positions itself as an operating partner to founders at critical growth inflection points. Cutting Horse invests $1–10 million in minority stakes in consumer product and service companies generating $1–20 million in revenue, providing both capital and hands-on strategic and operational support.
Protasewich and Wystrach have worked together for more than a decade within the consumer ecosystem. Wystrach founded Freshly, the direct-to-consumer meal platform acquired by Nestlé for $1.5 billion, while Protasewich invested in the business during his tenure at Highland Capital Partners. Collectively, the pair has helped create over $5 billion in enterprise value and raised more than $300 million for companies they founded. One such company, Petfolk, has grown into one of the fastest-growing de novo veterinary platforms in the U.S., operating 36 locations across seven states.
Cutting Horse has already completed four investments and built out its team, including Vice President Henry West, who previously worked with Protasewich and Wystrach at Freshly and Petfolk. The firm runs a concentrated portfolio strategy, partnering with a select group of founders each year where its hands-on approach can drive meaningful impact.
Among its portfolio companies is Promix Nutrition, which was acquired in 2024. Another investment, Cassi, reflects the firm’s broader focus on consumer services and technology-enabled platforms. Additional current and past partnerships include BetterWild, Feel Goods, SuperTeeth, Soar Health, Beam, Ghia, and Butternut Box.
For Fund I, Cutting Horse received backing from a mix of institutional investors, family offices, and experienced operators aligned with its thesis that disciplined growth, strong unit economics, and authentic customer connection can drive lasting enterprise value. The firm sees continued opportunity as emerging consumer brands capture market share through differentiated products, stronger brand identities, and deeper customer relationships. It also believes advances in AI will enhance execution and capital efficiency while reinforcing the importance of distinctive consumer offerings.
KEY QUOTES:
“Our mission is simple: we provide growth capital and operational support to founders building enduring consumer brands. We look to partner with founders who want more than capital. They want experienced operators who understand how to scale thoughtfully and build businesses that last.”
Chris Protasewich, Co-Founder And Managing Partner, Cutting Horse
“We’ve been in the founder seat and understand the weight of the decisions leaders face at key inflection points. Our role is to bring capital, clarity, and real operating experience to help founders scale in a way that builds long-term enterprise value.”
Michael Wystrach, Co-Founder, Cutting Horse
“Promix Nutrition was built on a simple belief: if you obsess over ingredient quality and never compromise, customers notice and they stay. The Cutting Horse team shared that belief. They brought real operating experience at exactly the right moment, helping us sharpen the business in ways that set us up for the next chapter.”
Albert Matheny, Founder And CEO, Promix Nutrition
“Many investors write a check. Cutting Horse is different. They have been in the weeds with us from day one, helping recruit key hires, making introductions to the right vendors, and leveraging their network in ways that have accelerated our success. Their perspective, as operators who have scaled billion dollar businesses, elevates the quality of advice, deepens the level of trust, and broadens the lens through which key decisions are made. That kind of partnership matters when you’re trying to create the most trusted platform for residential property management.”
James Sullivan, Founder And CEO, Cassi
