BrandProject

BrandProject Research Investment Thesis BrandProject is a Toronto-based venture capital fund that partners with visionary founders to build world-class digital consumer brands. Founded in 2013 by Andrew Black with roots in launching disruptive brands at iconic companies like Virgin Mobile, LEGO, and Nike, BrandProject combines capital with hands-on operational support from experienced brand builders and functional executives. The fund's core thesis centers on the belief that the best consumer brands come from founders who deeply understand customer needs and have the operational discipline to execute at scale. Rather than providing passive capital, BrandProject operates as a "studio + fund" hybrid model where the team acts as de facto cofounders and interim executives across design, product, engineering, growth, finance, and consumer marketing. Investment Approach and Model BrandProject deploys capital across three distinct stages: Incubate ($500K-$2M): The team builds businesses from scratch, leveraging their internal product, engineering, design, growth, and finance teams to launch new brands. This hands-on approach allows BrandProject to de-risk early execution and move quickly from concept to market. Accelerate ($750K-$2M): Focus on pre-seed and seed-stage consumer brands, providing growth capital and operational support to help founders establish strong foundations and prepare for institutional rounds. Scale ($1M-$5M): Growth capital for Series A brands, leveraging the network and growth expertise to help portfolio companies scale to exit. Track Record and Portfolio Since 2013, BrandProject Studio has invested in 30+ seed-stage founders, with exceptional outcomes: 9 acquisitions to date (including Daily Harvest, Freshly, Our Place) 2 brands achieved unicorn status 80% of 2013-2020 portfolio companies raised Series A or beyond 80% of portfolio companies raised subsequent funding rounds $600M+ in total follow-on funding raised by portfolio companies $4.1B+ in combined enterprise value created 42% of portfolio led by women; 42% with diverse backgrounds Notable portfolio companies include: Daily Harvest (acquired), Freshly (acquired), Our Place, Owlet Baby Care (acquired), Ritual (acquired), Persona, Chef's Plate, Clutch, Wonderbelly, Atolla, Felix & Friends, Peachy, Iris & Romeo, Tea Drops, and many others. Stage and Check Size Focus Stages: Pre-Seed, Seed, Series A Check Size Range: $500K-$5M depending on stage Incubate: $500K-$2M Accelerate: $750K-$2M Scale: $1M-$5M The fund is comfortable leading rounds solo or co-investing alongside other institutional investors. Investment Criteria and Founder Preferences BrandProject seeks founders who are: Building consumer products and services that address real market needs Driven by a passion to delight customers Open to hands-on operational support and board guidance Building in consumer categories: food & beverage, beauty & personal care, home goods, pet care, health & wellness, e-commerce Focused on tech-enabled, omnichannel consumer experiences The fund explicitly avoids B2B software, pure technology plays, and markets where they don't have category expertise. Team and Operating Capabilities The BrandProject team brings exceptional operational depth: Andrew Black (Founder, Managing Partner) - Founded BrandProject in 2013 with 15+ years of brand-building experience. Previously founded Virgin Mobile Canada (2004) which grew to 1M+ customers and $500M revenue before acquisition by Bell Canada in 2009. Held senior roles at LEGO (President, Americas), Nike (US GM), and Dr Pepper 7UP (VP Marketing). MBA-level strategic guidance. Chad Leger (CFO & Operating Partner) - Serves as finance lead and interim CFO for portfolio companies. Prior experience scaling startups in adtech, foodtech, and fintech spaces as head of finance or CFO. Hayden Williams (Partner) - Leads deal flow and investment execution. Previously Principal at BBG Ventures (consumer internet focus), co-founded Treatings mobile app, and held roles in investment banking at Bank of America Merrill Lynch. Abigail Haines (Principal) - Specializes in strategic finance and data-driven business recommendations. Acts as interim CFO and strategic finance lead for portfolio companies. Former investment banking analyst focused on financing strategies and debt markets. CFA charterholder. The team also includes Vice Presidents Chris Martone and Colin Harding, and Technology Advisor Jay Bhatti, along with specialists in design, product, engineering, and growth. Geographic and Sector Focus Geography: Primary focus on North America (Toronto, New York, US markets), with selective interest in other geographies. Sector Focus: Consumer products, services, and technology companies including: Direct-to-consumer brands Food & beverage (meal kits, specialty foods, pet food, health snacks) Beauty & personal care (skincare, supplements, oral care) Home goods and kitchenware Pet care solutions Health & wellness products Baby care products Fashion & accessories Decision Process and Typical Involvement Decision Timeline: Not explicitly stated, but the hands-on nature suggests meaningful deliberation periods. Board Involvement: Active board participation and ongoing advisory support. Team members serve as interim executives when needed. Warm Introductions: Not strictly required given their deal sourcing from operator networks, but preferred. Recent Activity and Fund Status BrandProject Capital Fund II (closed) focuses on deploying capital in Series A investments. The fund has been actively investing through 2024-2025. Recent portfolio activity includes investments such as Jesse & Ben's (August 2025) and continued support of existing portfolio companies. The firm maintains active deal sourcing through their extensive network of founders, operators, and entrepreneurs in the consumer space. Given the fund's operating model and track record, capital deployment is selective and highly collaborative. Notable Characteristics Operator-First Model: Unlike many VCs, BrandProject principals actively work as interim executives in portfolio companies Category Expertise: Deep knowledge of consumer categories rather than broad generalist approach Long-Term Support: Multi-year relationships with founders across incubate, accelerate, and scale stages Network Effects: Portfolio companies benefit from connections across 30+ successful exits and unicorns Female-Friendly: 42% of portfolio led by women, demonstrating commitment to diverse founding teams Canada-First: Built significant venture platform based in Toronto and Canada before expanding internationally