Monogram Hard Caps $350 Million Third Fund

Monogram Capital Partners has held an oversubscribed and hard cap close of its third fund, Monogram Capital Partners Fund III LP, with $350 million of capital.

Limited partners in Fund III include endowments, foundations, family offices, and funds of funds, with many long-time investors participating in the new fund.

Beverly Hills-headquartered Monogram invests up to $75 million of equity in companies with revenues of $5 million to $250 million. Sectors of interest include food and beverage, beauty and personal care, pet products, consumer healthcare, manufacturing, and multi-location businesses.

As an example, in July 2025, Monogram acquired a majority equity interest in Western Smokehouse Partners from AUA Private Equity. Monogram first invested in Western in 2018 and, after a series of add-on acquisitions, sold its majority equity interest in the business to AUA Private Equity, but maintained a minority equity interest in the business.

Western is a contract and branded manufacturer of all-natural meat sticks, jerky, and high-protein snacks with a portfolio of co-manufactured, private label, and branded products. The company’s beef, turkey, chicken, and pork products are available in sticks, bites, and strips and include organic, non-GMO, plant-based, and free-range options. Western’s customers include national retailers, health-conscious food brands, and convenience store distributors. The company was founded in 1978 and today is headquartered in Galesburg, Illinois, with six facilities in Missouri (2), Illinois (2), Iowa, and Idaho.

Earlier, in January 2025, Monogram acquired Luckyscent, a Los Angeles-based niche fragrance e-commerce and retail platform. Luckyscent operates both an online storefront and a physical retail concept known as Scent Bar, with a curated product line of prestige and artisanal fragrances.

Since its founding in 2014, Monogram’s portfolio investments – held for at least five years – have seen approximately 3x revenue growth and more than 600 basis points of EBITDA margin expansion.

“Our mission has always been to build enduring consumer businesses by pairing deep operational expertise with a long-term partnership mindset,” said Jared Stein, a co-founder and partner at Monogram. “We view ourselves as the bridge between family-held businesses and large-cap institutional capital—helping scale companies that deliver exceptional value to consumers, employees, and communities alike.”

“With the closing of this fund, we will add greater depth to our team and resources across the firm,” said Oliver Nordlinger, a co-founder and partner at Monogram. “These efforts to further institutionalize Monogram are in service of building an enduring firm for many funds to come.”

“Closing Fund III represents a significant milestone for our team and our investors,” added Mr. Stein. “We are deeply grateful for the trust placed in us and excited to continue building the next generation of enduring consumer businesses.”

Lazard was the placement agent for this fundraise and Latham & Watkins provided legal services.