Venture Studio Squared Circles Secures $40 Million Series A Fundraising Round

Squared Circles, the venture studio that invested in Nutrafol and incubated brands including Magic Molecule and Kelly Slater’s Freaks of Nature, has raised $40 million in a Series A fundraising round led by L Catterton.

Squared Circles’ portfolio includes incubated brands and investments in the health, beauty, wellness, food and fashion sectors. With its new funding, the company plans to launch and scale at least five additional brands in the next three years. Upcoming projects still in stealth mode are focused on health and wellness, including a children’s functional medicine brand, a sperm health brand and a food brand “tailored to the GLP-1 generation,” according to its website.

Jon Owsley, managing partner of L Catterton’s Growth Fund, said in a statement that Squared Circles’ “targeted approach to consumables, expert grasp of consumer mindset and behavior, and seamless fusion of science with culture fill an important gap in the market.”

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Editor’s Note: This article was amended on May 30, 2024 to clarify that L Catterton is LVMH-backed.