In early December we reported on the obscure BrandProject, a new venture that invests in early-stage consumer products and technology companies. It seeks to make equity investments in “disruptive Internet-enabled consumer products and consumer services businesses.”
In August the firm closed a $12 million funding round from over a dozen angel investors and today it appears it has officially launched “to turn consumer products into household names”. Based in Toronto and New York City, the company invests in and mentors companies, while incubating products and brands internally, as well.
The firm also raised $3 million from the Business Development Bank of Canada (BDC) in December.
BrandProject’s focus is on “accelerating growth for consumer technology and consumer product startups,” and company’s founding partners have collectively launched over 100 new products and services for companies including Nike, LEGO, Virgin, Colgate Palmolive, Cadbury-Schweppes, Diageo and Starbucks.
“BrandProject takes a design-led approach to building consumer products,” said BrandProject CEO Andrew Black. “We look for disruptive ideas to re-shape experiences and capture the public’s imagination across a variety of verticals.”
The firm also said it is actively seeking out innovative entrepreneurs, who can email BrandProject at ideas@brandproject.com.
“BrandProject fills a large gap in the current funding landscape,” said cofounder Sarah Prevette. “There are very few investors actively engaged in consumer packaged goods and fewer still that have a background in the space. Beyond capital, our partners work alongside entrepreneurs – actively investing their extensive operational experience.”
Prior to BrandProject, Prevette founded Sprouter, which was later “saved” by Postmedia in October 2011 after it was on the brink of collapse. Meanwhile Andrew Black previously headed up Virgin Mobile in Canada.
Update: “Also prior to BrandProject Prevette founded BetaKit”.