Prelude Growth Partners, a growth equity firm that invests in consumer brands, has announced the final close of its third fund, Prelude Growth Partners III, L.P.
The fund was oversubscribed and closed at its hard cap of $600 million in less than three months. This brings the firm’s total assets under management to $1.3 billion.
Consistent with its previous funds, Fund III will focus on partnering with founders and management teams of high-growth consumer businesses. The fund will commit between $15 million and $75 million per investment.
Since its founding in 2017, Prelude Growth has become a trusted partner for consumer brands, providing strategic and operational support. The firm’s portfolio includes well-known brands such as Sol de Janeiro, Bachan’s, and MadeGood. The previous fund, Prelude Growth Partners II, L.P., closed in 2021 with $250 million in committed capital.
Counsel: Proskauer Rose served as legal counsel for Fund III. No placement agent was used.
KEY QUOTES:
“We are thrilled to have closed Fund III with tremendous support from both existing and select new limited partners who helped us complete a significantly oversubscribed fundraise in just two and a half months. This is a testament to how much the limited partner community values a disciplined approach. We look forward to partnering with truly exceptional consumer entrepreneurs who are setting the pace of innovation in their categories.”
Neda Daneshzadeh, Managing Partner and Co-Founder of Prelude Growth
“We are here to support founders in building the iconic brands of the future. We leverage our deep consumer experience and insights with our partner brands and provide powerful expertise in building successful brands at a large scale. We act as highly collaborative partners to our founders and management teams, enabling them to maximize the potential of their brands.”
Managing Partner and Co-Founder Alicia Sontag
