Meaningful Partners LLC, a private equity firm based in Los Angeles, California, focused on the consumer sector, has closed its debut fund, Meaningful Partners Dedicated Capital Vehicle LP, with $175 million of capital commitments.
The fund was oversubscribed and closed above its cap of $150 million. Meaningful Partners secured commitments from an investor group comprising endowments, foundations, family offices and fund of funds.
“We are humbled to have earned the trust and support of an exceptional group of sophisticated investors,” commented Jake Capps, managing partner of Meaningful Partners. “We are proud to have exceeded our hard cap and most importantly to have an aligned, thoughtful and value-added group of Limited Partners who support our mission to empower positive purpose while achieving best-in-class investment returns.”
“We are excited to be in a position to help build the companies of tomorrow and serve our partner company management teams by accelerating their growth and performance,” added managing partner, Amin Maredia. “Both Purpose + Profit are sacrosanct to us and we believe they are inextricably linked which continues to be proven out through data and outperformance of purposeful businesses.”
WHR Capital (i) acted as the exclusive placement agent and Buchalter served as legal counsel to the fund.