Founded 2002, CVC arm of Unilever plc (FTSE). Portfolio ~135 active cos. Team 17 (7 partners). London HQ. Invests beauty & wellness brands, commerce tech, sustainability tech. Notable exits: Instacart (IPO 2023, $8.3B mcap), Cult.fit, Glance, Minimalist. Value-add: Unilever ecosystem access, mentorship via Unilever Foundry, pilot opportunities. 4 new investments 2025 (Hung Vanngo Beauty, Alice Mushrooms). Fund III: $350M.
Investment Focus
Investment Thesis
Corporate VC arm of Unilever (est. 2002). Seed-Series B. Personal care, beauty, wellness, D2C, food tech, enterprise apps, e-commerce. Global reach: primary focus US & India, secondary Europe. Strong strategic alignment w/ parent: access to Unilever's ecosystem, paid pilot projects, distribution. Prefers minority stakes. US avg round: Series A $8.93M, Seed $3.03M, Series B $19.9M. 199 portfolio cos, 6 unicorns, 5 IPOs, 33 exits. Avoids consumer discretionary unrelated to core categories.
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