VMG Partners – a private equity firm based in San Francisco behind a large portfolio which includes Daily Harvest, Vega, Pretzel Crisps® and other vegan snacks – announced yesterday the closing of VMG Partners V, L.P. (“VMG Growth Fund V”) at its target and hard cap of $850 million. With the closing of VMG Growth Fund V, VMG’s assets under management increase to around $2.6 billion.
In addition to closing VMG Growth Fund V, VMG has substantially exited all its portfolio companies in VMG Partners I, L.P. (“VMG Growth Fund I”). and VMG Partners II, L.P. (“VMG Growth Fund II”) as well as its third exit of VMG Partners III, L.P. (“VMG Growth Fund III”) in less than fifteen years as of the end of 2020.
“We’re excited to continue to partner with founders who inspire us,” said Robin Tsai, General Partner at VMG Partners. “We deeply value their ambition, and their motivation to create opportunities for women, BIPOC, and other underrepresented communities. As we continue our mission to partner with founders to build prominent brands, our goal is to spearhead more diversity and inclusion in the CPG space.”
“VMG Partners was founded on our team’s mutual passion to build brands and support entrepreneurs,” states Mike Mauzé, General Partner at VMG Partners. “In the past fifteen 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.”