Becoming the Largest Community of Founders that Co-Invest in Consumer Brands
The Family Fund & Founder Community (F3C), a venture fund focused on consumer brands, has announced $25 million in new capital commitments. With this significant investment, F3C aims to become the largest community of founders that co-invest in late-seed and Series A stages of consumer brands.
A Community of Over 50 Founders and CEOs
General partners Kurt Seidensticker (founder of Vital Proteins), Sean Kelly (founder of SnackNation and Caroo), and Josh Wand (founder of Forcebrands) have already built a community of over 50 founders and CEOs, including Amanda Baldwin at Supergoop, Tyler Ricks at SuperCoffee, Jake Kassan at MVMT, and Jordan Bass at HOP WTR. This diverse group of entrepreneurs will work together to back and mentor up-and-coming founders leading consumer and consumer-tech brands.
Deploying $350 Million into Consumer Brands
Daniel Lubetzky, founder of Kind Snacks, plans to deploy $350 million into consumer brands through his new VC firm, Camino Partners. While this is a significant investment, Kelly emphasizes that The Family Fund’s "secret sauce" lies in their collective experience as operators. They are intimately familiar with the startup journey and understand what it takes to develop a successful company.
The Importance of Mentorship
Kelly recalls meeting people who helped shape the strategy of Caroo, not just those who invested, but who were successful founders and operators first. He believes that early-stage founders can greatly benefit from having such a deep network of advisors. This collective experience can help them rapidly execute and provide the right strategy to accelerate growth and create category-leading brands.
Focusing on Mentorship over Funding
Unlike some venture capital firms that primarily inject funding, The Family Fund’s focus is on mentorship and extending its network of partners and vendors. They understand the importance of helping companies with their operations, marketing, and logistics.
"We believe the consumer ecosystem is really durable," Wand said in an interview. "As you look at our active network of founders, everything we do is supportive within the entire consumer ecosystem, not just brands. We just want to do that really well."
Core Investments
The new fund has made nine core investments to date, including:
- Flossy: a pay-as-you-go dental services company
- Elemind Technologies: developing a new type of wearable that modulates your brainwaves through ultrasound to adjust your behavior and even help you sleep better
- Hopwater: a non-alcoholic beverage
- Ghost: a supplement and energy drink company
Is Venture Funding Already Back?
The announcement of The Family Fund’s $25 million in new capital commitments raises questions about the current state of venture funding. With many startups struggling to secure investment, it is unclear whether the market has fully recovered from the challenges faced during the pandemic.
However, Kelly emphasizes that The Family Fund’s focus on mentorship and community building sets them apart from other venture capital firms. By providing a supportive network of advisors and partners, they aim to help founders succeed in an increasingly competitive market.
Conclusion
The Family Fund & Founder Community has announced $25 million in new capital commitments, aiming to become the largest community of founders that co-invest in late-seed and Series A stages of consumer brands. With a diverse group of over 50 founders and CEOs, they will work together to back and mentor up-and-coming founders leading consumer and consumer-tech brands.
Their focus on mentorship and community building sets them apart from other venture capital firms, providing a supportive network of advisors and partners to help founders succeed in an increasingly competitive market.