VMG Partners collects $850 million for its 5th growth fund

Consumer-focused private equity firm VMG Partners, which backs such brands as Smashmallow and Kind, closed on $850 million for its latest growth fund in only three months, according to an announcement by VGM’s general partners.

With the closing of the new fund, called VMG Partners V LP, VMG’s assets under management increases to some $2.6 billion.

VMG Growth Fund V will continue to invest in entrepreneurial early and late-stage consumer focused companies to build iconic brands, the private equipment company said.

In addition to closing the new fund, VMG Partners said it has substantially exited all its portfolio companies in VMG Grown Funds I, II and III in less than 15 years as of the end of 2020.

Founded in 2005, San Francisco-based VMG has back such big CPG brands as Bare Snacks, Pirate Brands, Perfect Bar and Daily Harvest.