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L Catterton launches impact investing platform
L Catterton, the French-American private equity fund co-founded by LVMH, is launching an impact fund platform dedicated to supporting social impact companies "whose missions include making the economy cleaner, healthier and more equitable," L Catterton said in a statement.
While not specifying the industries of the future companies that will be supported, the fund stated that it will focus on those that mitigate climate change, reduce waste and preserve nature, or that eliminate disparities in health, wellness and nutrition.
"Since our inception 33 years ago, we have been proud to back many best-in-class sustainable consumer companies. We are confident that now is the right time to launch a dedicated impact fund platform that will further enable us to support mission-driven entrepreneurs and companies where impact is a core driver of the brand," explained Michael Chu, global co-CEO of L Catterton, which owns brands such as Jott, Etro and Birkenstock, as well as Ganni, which may soon be sold.
To lead the investment vehicle's strategy, L Catterton has enlisted the services of Tehmina Haider and Michael O'Leary.
Haider previously served as chief growth officer at the men's personal care company Harry's, where she was responsible for acquiring new brands. Prior to that, she worked at L Catterton as a senior investor and contributed to a number of investments in fashion and beauty brands. Haider started her career at Bain & Company and also worked at the American cosmetics group Estée Lauder in the strategy and new business development team.
O'Leary previously served as managing director of Engine No. 1, an American activist and impact investing firm. Prior to that, he was a member of the founding team of Bain Capital's impact fund. He is also co-author of the book Accountable: The Rise of Citizen Capitalism (HarperCollins 2020), which details the challenges and opportunities of impact investing.
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