Sortis Holdings Inc., a Portland, Oregon-based alternative investment fund manager, has launched Sortis Growth Venture Fund.
The $10m fund is a hybrid venture capital and consumer-focused private equity fund dedicated to accelerating rising consumer brands. Open to accredited investors, Sortis Growth Venture Fund has a target return of 20% on invested capital.
Led by Butch Bannon, fund manager and principal, and Paul Brenneke, founder, Sortis considers branded consumer and retail companies in various categories — including apparel and accessories, health and wellness, pet, beauty and personal care, food and beverage, and footwear based in North America and have a domestic or global reach that can quickly leverage the fund’s category expertise and e-commerce capabilities.
The fund is open to accredited investors and accepts up to $1 million per investment, with a $25,000 minimum investment.