Sir Kensington’s Co-Founder, Fidelity Unveil New Fund
In a LinkedIn post yesterday, Sir Kensington’s co-founder Scott Norton unveiled Unfold Ventures (previously Devonshire Partners), a $300 million fund “dedicated to backing the next generation of breakthrough consumer companies.”
“Today, we’re announcing our $300M fund dedicated to backing the next generation of breakthrough consumer companies,” Norton wrote on LinkedIn on Monday. “What’s more, we’re stepping onto the stage under our new name, Unfold Ventures, which stands for the expanding potential of entrepreneurial ventures.”
Boston-based Unfold is “affiliated” with FMR LLC, the parent company of Fidelity Investments, investing “on behalf of the owners of Fidelity Investments.”
“Thanks to our stable backing, we invest flexible capital and think long term,” Norton wrote today. “This allows us to follow companies through the many stages of their rise, and allow entrepreneurs to dream big.”
Unfold will place checks of $5 to $25 million in growth stage companies, and while it will focus on CPG, the company has also made investments in supply chain oriented companies and technology brands outside of food and beverage. The firm’s website lists current investments in Pete & Gerry’s, Beekeeper’s Naturals, Chosen Foods, Kinder, Milk Specialties Global, among others. Its prior exits include Orgain, Nom Nom pet food and SoudHouse.
Norton founded condiment brand Sir Kensington’s alongside Mark Ramadan, and over his tenure at the company, which sold to Unilever in 2017, held the roles of CEO and CMO. After departing the company in 2020, he went on to form N+1 Ventures, placing angel investments in brands such as Omsom, MUD\WTR, Who Gives a Crap, Mosaic and Imperfect Foods.
In addition to Norton, Unfold’s two other partners are Suzanne Agnello, who formerly spent 15 years at Devonshire Investors, and Shamez Kanji, a member of the Devonshire Investment Committee and the former co-head of Capital One’s venture group.
“We’re consumer specialists, seeking out leadership teams that bring ‘the magic’ together with ‘the logic’ to reimagine products and experiences enabling their customers to live happy and healthy lives,” Norton’s post said.
