Willow Growth Partners Fund II

Willow Growth Partners invests in entrepreneurs building the next generation of consumer brands, and the disruptive technologies that support them. Willow Growth Partners specifically invests in early stage companies in the beauty, personal care, apparel and accessories, food and beverage, baby, and home spaces. 50% of Willow Growth Partners’ Fund I portfolio companies are within creative industries, in alignment with Upstart’s focus on the creative economy. 

Although Willow does not label itself an impact fund, their focus on “better for you” and “better for the planet” brands, and their track record of backing diverse founders creates a compelling impact story. Additionally, the team uses a diversity rider when they are the lead investor, and has a track record of backing women and BIPOC founders in their Fund I. Upstart’s investment was contingent on the fund signing an impact reporting side letter; this is the first time Willow has committed to impact reporting.

The fund is led by GPs Deborah Benton and Amanda Schutzbank. Prior to launching Willow, Benton spent 6 years building an investment vehicle focused on seed stage consumer brands at Kaktus Capital, and previously spent time in leadership roles at Nasty Gal, ShoeDazzle, and Teleflora. Schutzbank spent time in venture at Amplify and Primary Venture Partners; at Karma, Techstars New York City, and as an investment banker at Bank of America Merrill Lynch.

Creative economy investment examples from Fund I include: You Go Natural, a haircare brand designed to protect and style textured hair; and Goodles, a healthy macaroni and cheese brand, designed to provide adults with a nostalgic experience while also maintaining high nutritional value.