Aria Growth Partners Closes $152 Million Fund-II Continuing Specialized Focus on Emerging Consumer Brands

Business Wire

25-06-2025

NEW YORK--(BUSINESS WIRE)-- Aria Growth Partners, a leading growth equity firm that provides capital and elevated partnership to extraordinary consumer brands, today announced the closing of its second fund with $152 million in capital commitments. The oversubscribed fund will continue the firm's winning strategy of serving founders of high-growth consumable product companies across several categories in the rapidly changing, multi-trillion dollar global industry.
"Our strategy is predicated on partnering with founders who aren't actively seeking capital per se, but are very much looking for something different – a partner who's insightful and dedicated to service."
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Founded in 2020 by consumer investment veterans Trevor Nelson and Jackie Dunklau, Aria provides $10-30+ million to companies in the food, beauty, personal care, supplements and household products categories.
"We've identified a compelling opportunity in the market where many specialist consumer funds have grown too large to serve founders at the stage where we see the greatest potential," said Trevor Nelson, Co-Founder and Partner of Aria Growth Partners. "We're excited to stay in the part of the market where we can provide the most value to founders and to our investors."
This focused approach has already yielded results for the firm's first fund, with exits by portfolio companies Hero Cosmetics and LesserEvil. Hero Cosmetics, purveyor of the popular Hero Mighty Patch ® and other acne treatment products, was acquired by CPG giant Church & Dwight for $630 million. The sale of fast-growing organic snack maker LesserEvil to The Hershey Company was announced in April.
"Our strategy is predicated on partnering with founders who aren't actively seeking capital per se, but are very much looking for something different – a partner who's insightful and dedicated to service," said Jackie Dunklau, Co-Founder and Partner. "We help ensure they make the right moves between now and an eventual exit, providing a roadmap based on our experience of what makes companies attractive to strategic acquirers."
Hero Cosmetics was Aria's first investment, setting the foundation for Aria's approach to partnering with founders.
'Aria was more than just an investor – they were a true thought partner who brought deep consumer expertise, strategic clarity and unwavering support as we scaled Hero,' said Ju Rhyu, Co-Founder and CEO of Hero Cosmetics. 'Jackie, Trevor and their team knew how to help us grow intentionally; they coached us as we scaled and set us up for a successful acquisition. For founders looking for values-driven investors who really get today's modern consumer landscape, Aria is exactly the kind of partner you want by your side.'
The firm received an outpouring of support from Fund-I investors for Fund-II with nearly all of them increasing their commitment size. The firm has also attracted new investors, including university endowments, fund-of-funds and sophisticated family offices.
'We are excited to welcome back our Fund-I partners and a great group of new investors for Fund-II who share our belief that consumer growth is a compelling place to invest in any market environment. The brands we invest in typically provide value-based, non-discretionary products that align with consumer values around health, sustainability and transparency – purchases that tend to remain resilient even in downturns," added Dunklau.
Aria sees significant opportunity in the continued market share shifts occurring across consumer categories, as legacy brands face challenges from innovative newcomers leveraging new distribution channels and addressing evolving consumer preferences.
The firm is focused on finding founders with clear product vision who are often solving personal pain points, creating products that have mainstream potential while delivering meaningful improvements over existing offerings. As Aria deploys Fund-II, it will continue searching for extraordinary founders and deepen the ways it helps them maximize the potential of their brands.
Aria Growth Partners
Founded in 2020 and based in New York City, Aria Growth Partners is a leading consumer growth equity firm that provides capital and elevated partnership to extraordinary consumer brands. Aria typically invests $10-$30 million for minority stakes in growth-stage companies, some of which include Hero Cosmetics (exited to Church & Dwight), LesserEvil, The INKEY List, Ultra Violette, JOYRIDE and Onda. For the last decade, Aria's principals have been growth partners to many of the most successful emerging brands across beauty, personal care, food, beverage, household, baby and pet products. Learn more at ariagrowth.com.