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Silas Capital


​Friends,


It's been a while since we last updated you on all the happenings here at Silas Capital. So without further ado, here's what's transpired since we last wrote a year ago - we made 6 new investments, had 2 exits, raised 1 new fund, and hired 1 new partner! 

Best,
Carter, Frank & Brian

TWO EXITS

MarketCast has acquired Fizziology, our consumer & media analytics investment. Fizziology helps brands and media & entertainment businesses better understand their customers and audiences. We congratulate the team on a great outcome and wish them continued success!

We’re also pleased to report that Lifefactory was acquired by Thermos, bringing together a leading brand of portable insulated food and beverage containers with the leader in reusable glass water bottles. Again, congratulations to everyone!

NEW VC FUND

Silas Ventures: In early 2018, we formalized our longtime venture investing program with the first close on our micro VC Fund, Silas Ventures. This nimble fund is focused on Seed and Series A rounds backing entrepreneurs and brands that we love, but fall outside of the investment mandate (either in size or stage) of our flagship growth equity platform, Silas Capital.

NEW INVESTMENTS

Silas Capital New Investments


Dos Toros
 
– Move over Chipotle, this fast-casual San Francisco style taqueria is blazing its own trail, offering outstanding burritos and other fare across 18+ locations in New York and Chicago. Dos Toros is a growth stage investment made in June 2018.

Summersalt – Next gen women’s swimwear. Eco friendly, affordably priced and all online. The impressive team has put up brilliant numbers, ramping from a cold start in 2017 to over $1M in monthly sales this summer. The last time we looked Summersalt had 7,250 people on its waiting list for a single style! Summersalt is a venture investment made in March 2018.

Lord Jones – Lord Jones is a first-mover connecting cannabis with high-end beauty and wellness, and recognized as the premier luxury cannabis brand in the U.S. This LA-based brand has been infusing gummies with CBD (as well as THC) since 2016 and blazing a path into beauty retailers with its CBD-infused body care products. Lord Jones is a venture investment made in April 2018.

Naadam – Naadam is an ethical luxury apparel brand that responsibly sources high-quality cashmere directly from nomadic herders in Mongolia, disrupting a legacy supply chain established by the Italian market leaders. Naadam is a venture investment made in June 2018, alongside apparel investors such as Silas Chou and several prominent Italian apparel families.

Heartbeat  Heart disease is the largest medical problem in the U.S., killing more people annually than all cancers combined. Thanks to Heartbeat, cardiovascular screening can begin to be widely accessible to consumers through its walk-in clinics and digital platform. Heartbeat is a venture investment made in March 2018, alongside Lerer Hippeau and Collaborative.

Mimikai  If your DEET-based insect repellent brand hasn’t changed in your lifetime, perhaps you should then make a change. Mimikai is evolving this 50-year-old category with a non-toxic product that actually works, wrapped in beautiful lifestyle packaging and fragrance. Mimikai is a venture investment made in March 2018 and launches next year.

NEW PARTNER

Our Partnership has grown. Early this year, we welcomed Brian Thorne, a long-time friend of the firm, as our third Partner. Together, we are spearheading the fundraise of our new $100 million growth fund, Silas Capital Partners II. The team is new, but the story remains the same — a focus on leading investments in next generation “early” growth brands with $5 to $25 million in revenue.

If you don’t know Brian yet, you should. Brian has over 13 years of experience as an advisor, investor and operator in the consumer sector. He was most recently a Principal at Tengram Capital Partners, a growth equity firm that invests exclusively in branded consumer and retail companies. Joining the firm shortly after its founding, Brian completed and managed investments in several prominent brands within the firm’s core verticals of beauty and fashion/apparel, including NEST Fragrances, Laura Geller, DevaCurl and SWIMS.

Prior to Tengram, he worked at L Catterton, one of the largest and most experienced consumer-focused private equity groups in the world, where he was involved in evaluating and executing investments in the personal care and food & beverage sectors. Previously, Brian was an Analyst in the Consumer/Retail Investment Banking group at Lazard. Additionally, Brian maintains investments in a portfolio of emerging consumer brands, including Ursa Major, Owl’s Brew, Naadam and United By Blue. Brian earned his MBA from Harvard Business School and holds a BA in Economics and Psychology with Distinction from the University of Virginia.

PORTFOLIO HIGHLIGHTS


Boll & Branch 
— Our favorite luxury linens brand continues its impressive ascendency. In under four years, Boll & Branch has become the leading bedding brand sold over the internet. Equally as important as their impressive growth trajectory in revenue and EBITDA has been their commitment to the use of fair-trade organic cotton, which has dramatically impacted the way cotton textiles are sourced and produced industry-wide. Earlier this year, Boll & Branch was recognized as the world’s leading producer of fair-trade organic cotton products — surpassing Nike, H&M and even Patagonia. This is a distinct honor and achievement, differentiating Boll & Branch not only by its distinct brand story, but also its unique supply chain and heroic effort to better the lives of all the people that make its products. Lastly, we’re pleased to report that the company is well on its way to exceed last year’s growth, along with three straight years of profitability

Casper – If you haven’t been paying attention, the bed-in-the-box category is now HUGE. Casper was the first and many brands quickly followed. Despite the noise in the category, Casper has prevailed, and today stands alone as the definitive market leader. After closing a $170 million in its Series C financing led by Target, Casper has now become as much of an offline player as it is online, rolling out  200 of its own retail stores nationwide, in addition to Target stores. The original bed-in-the-box brand has now expanded to include bedroom furniture, bedding, napping pillows and the list goes on. 

ABOUT US


Silas Capital is a consumer growth equity and venture firm investing in next generation brands. We are one of the few experienced firms specializing in "early" growth stage consumer businesses between $5 million and $25 million in revenue, having pioneered the segment in 2011. Additionally, we look to invest 10% of our capital into venture stage "digital first" brands. This strategy reflects the convergence of both traditional and online channels. Our check sizes are $3 to $10 million for growth stage companies and up to $750k for venture.

As entrepreneurs ourselves, we’ve been there too—our firm was formed by founders and investors with a long track record of success across consumer, retail and internet. Our investments range from brands like Boll & Branch, Bare Snacks, Casper and Dos Toros in our growth portfolio, to emerging brands like Lord Jones and Summersalt in our venture portfolio.

 
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