SAN FRANCISCO — Private equity firm VMG Partners announced the closing of VMG Partners V, LP (VMG Growth Fund V) at its target and hard cap of $850 million, which brings VMG’s assets under management to approximately $2.6 billion.
Founded in 2005, VMG Partners through its Growth and Catalyst funds focuses on partnering with entrepreneurs and managers to support the growth of branded consumer product and technology companies. The firm has provided financial resources and strategic guidance to more than 40 companies, including Kind, Bare Snacks, Perfect Bar and Pirate Brands. Its branded snacking platform, Velocity Snack Brands, is headquartered in Los Angeles and operates the Popchips business.
VMG said it has substantially exited all of its portfolio companies in VMG Partners I, LP and VMG Partners II, LP funds as well as its third exit of VMG Partners III fund.
“VMG Partners was founded on our team's mutual passion to build brands and support entrepreneurs,” said Mike Mauzé, general partner at VMG Partners. “In the past 15 years VMG Partners has brought their expertise to the CPG space, and during that time we have developed strong relationships with our investors. These long-term limited partners have been great assets and strategic mentors in building the VMG franchise.”
Wayne Wu, general partner at VMG Partners, added, “Our passion at VMG is to support the broader consumer ecosystem of entrepreneurs, retailers and global CPG strategics regarding where the consumer is going versus where they’ve been historically. Through our genuine and consistent efforts to support the broader consumer ecosystem, we’ll have the opportunity to partner with best-in-class founders and teams to build leading brands.”
VMG Partners is committed to supporting founders creating a more diverse and inclusive consumer products industry, said Robin Tsai, general partner.
“We’re excited to continue to partner with founders who inspire us,” he said. “We deeply value their ambition, and their motivation to create opportunities for women, BIPOC and other underrepresented communities.”