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Austin, Texas – (BUSINESS WIRE) – Capstar Ventures LP, an early stage venture capital firm, today announced the completion of its first Fund I with capital commitments of $ 41.3 million. Founded in 2019 by Kathryn Cavanaugh, Capstar Ventures invests in innovative consumer goods companies nationwide. The $ 41.3 million was raised by an experienced group of individuals, family offices and institutions including Capital Creek Partners, Tiger Partners LP and JP Morgan. Capstar Ventures is the first fund to close under JP Morgan Asset Management’s Project Spark – a new initiative in which JP Morgan invests balance sheet capital in a variety of emerging alternative fund managers, including minority-run and women-run venture capital funds.
“Kathryn embodies the kind of fund manager we wanted to support when we launched our Project Spark initiative and we are excited to partner with Capstar Ventures on its founding fund,” said Jamie Kramer, JP Morgan Asset Management’s Head of Alternative Solutions and Chairman of the Investment Committee for Project Spark. “Kathryn brings a unique perspective, deep expertise and a nuanced vision for investing in the next generation of consumer goods companies, and we are excited to join the fund.”
Capstar Ventures invests broadly across the consumer sector at Seed and Series A in digitally native brands, consumer goods and services, and technologies that power these startups. The fund supports inspiring entrepreneurs addressing unmet consumer needs that are arriving with influential Millennial and Generation Z consumers with differentiated products, services and platforms that have failed on the scale.
“We try to invest in founders who solve their own problems and who are directly related to and similar to their customers because we’ve seen this authentic connection reflected in high-growth companies,” said Kathryn Cavanaugh, founder and managing partner of Capstar Ventures. “And how millennial and Gen-Z consumers address this authenticity when they reconcile their purchasing power with their values.”
Cavanaugh has invested and advised in early stage consumer products, healthcare, and technology companies for the past 15 years. While at Grace Beauty Capital, Mainsail Partners, and De Novo Ventures, she has provided and actively supported over $ 350 million in equity investments, including early-stage disruptive consumer brands such as Rothy’s, Supergoop !, Parachute, Primary, and MMLaFleur.
In 2019, she moved to Austin to found Capstar Ventures with anchor capital from successful Texas entrepreneurs Steve Hicks, Kendra Scott and Robert Gauntt.
“Steve, Robert and I are thrilled to have the opportunity to work with Kathryn to create Capstar Ventures because we share the commitment, innovation and passion that entrepreneurs bring to our world and believe this is critical to is building a better future, ”added Kendra Scott, Founder of Kendra Scott LLC. “We are excited about the opportunity to support those in the early stages of building their business and work with phenomenal partners to provide a seat at the table for more diverse founders.”
Capstar Ventures has invested in ten portfolio companies to date, including Culina, a leader in plant-based foods; Stylust, a trading technology platform; The Class, a health and wellness platform; Sarah Flint, a luxury shoe brand for women; Packed Party, a party lifestyle brand; St. Frank, a luxury home decor brand; Museum of Ice Cream, a development company with initial experience; Bravo Sierra, the first military wellness company; Eterneva, a grief wellness company; and Intraloop, a technology platform for community insights.
About Capstar Ventures
Capstar Ventures is an early stage venture capital firm investing in the next generation of innovative consumer goods companies. We strive to invest in the best and brightest entrepreneurs who are solving their own problems and addressing unmet consumer needs in today’s rapidly changing consumer landscape. We use a wide range of operational and investment expertise as well as extensive networks to support founders in the early phase on their way from start to scale. We capitalize stars.
For more information, please visit www.capstarventures.com or email venture@capstarventures.com.
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