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Penultima Capital is a venture capital firm founded by Lori Wachs in the United States. The firm specializes in investing in women-led growth-stage companies, particularly within the consumer sector. Wachs brings over 30 years of investment experience, having previously served as a partner at Springboard Growth Capital and spending 17 years at Delaware Investments. This extensive background informs Penultima's investment strategy, which aims to support companies that capitalize on emerging trends and transform their industries.
Since its inception, Penultima Capital has focused on identifying innovative brands that are poised to disrupt their respective markets. The firm operates with a clear mission to empower women entrepreneurs and enhance their visibility in the consumer space. Penultima Capital is based in the United States and has established a reputation for its commitment to supporting diverse leadership in the industry.
Penultima Capital invests exclusively in growth-stage companies led by women, with a strong emphasis on the consumer sector. The firm seeks to identify and support brands that demonstrate the potential to become category-defining. This focus aligns with the increasing demand for products that resonate with evolving consumer preferences and values.
The firm’s investment strategy is centered around identifying innovative brands that can disrupt traditional markets. Penultima Capital looks for companies that not only have strong consumer insights but also exhibit brand differentiation and scalable distribution capabilities. By concentrating on women-led ventures, the firm aims to foster a more inclusive investment landscape while driving growth in the consumer sector.
Penultima Capital's portfolio includes several notable companies that exemplify its investment thesis:
Additionally, Lori Wachs has a notable track record from her previous role at Springboard Growth Capital, where she invested in:
Lori Wachs - Founder and Managing Partner. Wachs has over 30 years of investment experience, including significant roles at Springboard Growth Capital and Delaware Investments. She has a strong background in consumer investing and has led notable investments in companies such as The RealReal, ClassPass, Hint, and K18. Wachs is recognized for her expertise in identifying and supporting women-led ventures.
To pitch Penultima Capital, founders should use the contact form available at loriwachs.com/contact. It is recommended to include a concise overview of the business, the problem it addresses, and the unique value proposition. While specific application forms or detailed pitch guidelines are not disclosed, a clear and compelling narrative is essential.
Response times may vary, so founders should be patient after submitting their pitches. Warm introductions may enhance the likelihood of a favorable response, given the firm's focus on building relationships within the investment community.
In February 2024, Penultima Capital's portfolio company K18 was acquired by Unilever, marking a significant exit for the firm. This acquisition highlights the potential for substantial returns on investments in innovative consumer brands.
Additionally, Lori Wachs was featured in Modern Luxury's 2025 Women of Style, recognizing her contributions to the investment landscape and her commitment to supporting women-led businesses.
What are Penultima Capital's investment criteria?
Penultima Capital focuses on growth-stage companies led by women in the consumer sector. The firm seeks brands that can disrupt their industries and meet evolving consumer needs.
How can founders pitch to Penultima Capital?
Founders can submit their pitches through the contact form available on Lori Wachs' official website at loriwachs.com/contact.
What makes Penultima Capital different from other venture firms?
Penultima Capital is distinct in its exclusive focus on women-led companies within the consumer sector, aiming to empower female entrepreneurs and support their growth.
What is the geographic focus of Penultima Capital?
The firm primarily invests in companies based in the United States, concentrating on the consumer market.
What is the typical check size for investments?
Specific check sizes have not been disclosed, but the firm focuses on growth-stage investments, which typically involve larger funding rounds compared to seed-stage investments.
What kind of support do portfolio companies receive post-investment?
Penultima Capital provides strategic guidance and leverages Lori Wachs' extensive experience in consumer investing to enhance growth opportunities for its portfolio companies.
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