Stride Consumer Partners has closed Stride Consumer Fund II with $550 million in capital commitments, bringing the consumer-focused growth equity firm’s total assets under management to approximately $1.3 billion.
The oversubscribed fund reached its hard cap and is 30% larger than Stride’s debut fund, which closed in 2022 with $420 million against an original $300 million target.
Stride completed the Fund II raise in approximately four months, with significant support from existing limited partners increasing their commitments alongside new institutional investors and founders and executives who previously worked with the firm.
Stride focuses on founder-led and management-led consumer businesses across Beauty & Personal Care, Food & Beverage, Active Lifestyle and Multi-Unit Services. The firm’s investment model combines growth equity capital with operating partners who have direct executive experience scaling consumer brands.
Stride has partnered with brands including skinfix, Chomps, Truewerk, Patrick Ta, Odele Beauty, Serenity Kids, Peachy and Crown Affair, along with another investment that had not yet been announced at the time of the fund closing.
Campbell Lutyens served as placement agent, while Latham & Watkins served as legal adviser.
KEY QUOTES:
“When we raised our first fund, we drove an RV 4,400 miles across the Midwest and the East Coast, meeting investors outside in parking lots and backyards because all conference rooms in the country were closed due to the pandemic. This time around, we didn’t need the van. Many of those same road-trip investors are supporting Stride in Fund II, including several founders we backed along the way. We believe this is a powerful signal of the conviction behind what we’re building and the opportunity ahead. We’re grateful for the support and energized to put this capital to work alongside the next generation of passion brands.”
Tim Burke, Founding Member and Partner at Stride Consumer Partners
“What sets Stride apart is their support. When we hit meaningful inflection points around strategic planning, amplifying brand and marketing, and scaling our direct-to-consumer channel, they showed up with people who had decades of experience in exactly the areas where we needed a thought partner, well beyond the P&L and the balance sheet. They leaned in with guidance and team building support the moment we asked and had the wisdom to get out of the way when we didn’t. That’s a rare balance, and it’s what true partnership looks like.”
Brian Ciciora, Co-Founder and Chairman of Truewerk
“As a brand with makeup artistry at its core, Patrick Ta Beauty is building a next generation artistry brand, and the team at Stride deeply understood that vision and have proven to be partners who are just as invested in our growth as they are in achieving that ambition. Since the beginning, Stride helped us drive forward the initiatives that mattered most, including building our team, amplifying our marketing activity, developing our supply chain and operations strategy to support our growth, and deepening what we’d started with Sephora, all while furthering what makes people fall in love with this brand in the first place.”
Kimberly Villatoro, CEO of Patrick Ta Beauty
