Capstar Ventures L.P., an Austin, Texas-based early-stage venture capital firm, closed its maiden Fund I, at $41.3m.
The $41.3m was raised from an experienced group of individuals, family offices, and institutions including Capital Creek Partners, Tiger Partners L.P., and J.P. Morgan. Capstar Ventures is the first fund to close as part of J.P. Morgan Asset Management’s Project Spark—a new initiative in which J.P. Morgan invests balance sheet capital in diverse, emerging alternatives fund managers, including minority-led and women-led venture capital funds.
Founded by Kathryn Cavanaugh in 2019, Capstar Ventures is an early-stage venture capital firm that invests in the next generation of innovative consumer companies. The firm 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.
Capstar Ventures has invested in ten portfolio companies to date, including:
- Culina, a plant-based food company;
- Stylust, a commerce technology platform;
- The Class, a health and wellness platform;
- Sarah Flint, a women’s luxury shoe brand;
- Packed Party, a celebration lifestyle brand;
- St. Frank, a luxury home décor brand;
- Museum of Ice Cream, an experience-first development company;
- Bravo Sierra, the first military-native wellness company;
- Eterneva, a grief wellness company; and
- Intraloop, a community insights technology platform.
Cavanaugh has been investing in and advising early-stage companies across consumer, healthcare, and technology for the past 15 years. While working at Grace Beauty Capital, Mainsail Partners, and De Novo Ventures, she deployed and actively supported over $350M of equity investments, including early-stage disruptive consumer brands such as Rothy’s, Supergoop!, Parachute, Primary, and M.M.LaFleur.
FinSMEs
26/07/2021