Topspin Closes New Consumer Fund at Hard Cap

Topspin Closes New Consumer Fund at Hard Cap

The new fund is already invested in three consumer-focused platforms

Topspin Consumer Partners has held a hard cap and final closing of Topspin Consumer Partners II LP with $205 million of capital.

The firm’s new fund was oversubscribed and was backed by both existing investors and new limited partners including funds of funds, global asset managers and family offices.

Topspin makes control investments of $15 million to $35 million in middle-market consumer businesses with a specific interest in health and wellness, personal care and beauty, food and beverage, household goods, pet, and children’s products. The firm is headquartered in Mamaroneck, New York.

“Topspin appreciates the support from the investment community that enabled this successful fundraise,” said Leigh Randall, the managing partner of Topspin. “The strong performance of our portfolio companies during the uncertain conditions of the coronavirus pandemic was critical in maintaining and furthering investor confidence in our ability to create value in the consumer sector. Our experience and prior successes in the digital marketplace have positioned us favorably to take advantage of an accelerating trend in our industry.”

Topspin emphasizes strategic and operational development for its investments including digital marketing and e-commerce, new product development, improved distribution, and go-to-market strategies. In addition to its transactional capabilities, the Topspin investment team has significant operating experience and is supported by a consumer-focused board of advisors.

Topspin’s new fund has already acquired three platforms with the buys of reCommerce, a Florida-based Amazon agency that works with companies and brands to increase sales on the Amazon e-commerce platform (May 2020); and Japonesque, a California-based developer and marketer of beauty products (September 2019). According to Mr. Randall, Topspin’s third platform was just recently acquired, and the firm has not yet announced the transaction.

Topspin’s most recent exit was the March 2019 sale of JD Beauty, a Fund I portfolio company acquired in October 2015, to Goody Products, a portfolio company of ACON Investments. JD Beauty is a Long Island-based designer and marketer of branded hair brushes and beauty care accessories.

Topspin engaged MVision Private Equity Advisers as its placement agent on this fundraise, and Goodwin Procter provided legal services.

© 2021 Private Equity Professional | June 18, 2021

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