L Catterton rolls out impact investing platform

• The Impact Fund will invest and grow consumer companies that are working toward mitigating climate change, reducing waste and eliminating disparities in health, wellness, and nutrition
• Haider rejoins L Catterton from Harry’s Inc., where she served as the company’s chief growth officer
• O’Leary was previously with Engine No. 1, where he served as a managing director

L Catterton has launched an impact investing platform. No financial terms were disclosed.

Tehmina Haider and Michael O’Leary will serve as partners to lead the strategy.

The Impact Fund will invest and grow consumer companies that are working toward mitigating climate change, reducing waste, and preserving nature; and eliminating disparities in health, wellness, and nutrition.

“As consumer-focused investors above all else, we have seen a revolution in consumer demand based on sustainability and impact. This is hitting a tipping point as younger generations lead a structural, long-term shift towards brands anchored on these values,” said Scott Dahnke, global co-CEO of L Catterton, in a statement. “With our distinctive insights and operations-centric approach to value creation, we are poised to identify the most attractive investment opportunities amidst this shift and partner with strong companies in advantaged categories to accelerate growth.”

Haider, who was formerly a senior investor in L Catterton’s Growth Fund, re-joins the firm from Harry’s, Inc., where she served as the company’s chief growth officer. In that role, she was responsible for incubating and acquiring new brands, as well as overseeing their operations after launch or acquisition.

O’Leary was previously with Engine No. 1, where he served as a managing director. Prior to that, he was on the founding team of Bain Capital’s impact fund and an investor on its private equity fund.

L Catterton has more than $33 billion of equity capital. Since 1989, the firm has made approximately 250 investments in consumer businesses.