Business

Photo caption: Halogen Ventures team (from top left to top right) Jennifer Kwan Mandelbaum, Ashley Balla, Jesse Draper and Adriana Gadala-Maria Ochi

Halogen Ventures, Jesse Draper’s venture capital firm focused on early stage startups with a woman on the founding team, is announcing today the close of a third fund at $30 Million. With this fund, Halogen will prioritize investments in the $7.5T Future of Family category with a focus on childcare, while continuing to invest in female founded companies who are innovating and solving global problems across industries.

“We’re investing in the Future of Families because it’s a massive and untapped opportunity. Childcare is broken in the United States – options and schooling is completely unaffordable for children under the age of 6 for 99% of society. This leads to neglect, kids falling into the foster care system and as over 70% of the incarcerated today went through our foster care system, something needs to change here. Not only is this a massive business opportunity, but it’s also imperative that we do something differently in childcare,” states Jesse Draper, Founding Partner of Halogen Ventures. “There are over 80 million families in the United States alone and yet Venture Capital has overlooked this market. We are both deeply passionate and data driven about this space and believe there are a wealth of high potential opportunities that will help parents and families at scale.”

The Future of Families market is currently valued at $7.5 trillion and is expected to grow significantly as family life dynamics continue to evolve over the next decade and beyond. Since the global pandemic, women have lost more than $800 billion in income and more than 64 million jobs globally due to the childcare crisis. With childcare costs increasing year over year, over 40% of families in the U.S. struggle to find childcare solutions. Studies show the crisis is getting worse and it’s taking a toll on families. Even the U.S. Surgeon General released an advisory on the mental health and well-being of parenting in America. While the United States is ahead in many things, we have fallen behind the Nordic Countries, France, Canada and beyond in childcare. No society can survive without proper support of families.

Halogen’s third fund will focus on meeting the unmet needs of the modern family by investing in five core verticals: Childcare, Education/EdTech, FamTech (Family Technology), Child & Youth Services, and the Digital Workplace.

Draper raised this fund alongside her partners Ashley Balla and Jennifer Kwan Mandelbaum. Other key team members include Adriana Gadala-Maria Ochi and Julia Richter. Limited Partners in Halogen’s Fund Three include: The State of Alabama (Innovate Alabama), Fenwick’s Fund of Funds, Candace Nelson (Founder of Sprinkles), Gingerbread Capital, Mike Evans (Founder of Grubhub) and Lanyon Advisors.

Draper founded Halogen Ventures in 2015 after recognizing startups with women founders were one of the most overlooked and high-potential investment opportunities of our time. Since then Draper has demonstrated there is no lack of deal flow from female founders who are innovating and tackling world-changing problems. Halogen portfolio companies include Everlywell’s at-home health testing (val $3.5B), Babylist ($1B GMV), Flex the top selling brand in sustainable period care ($24.8B market), HopSkipDrive (over 1M safe trips to and from schools), Upwards leadership in childcare solutions ($520B market), Dacora, the first female founded electric vehicle, Metropolis (AI powered mobility and parking provider) among other leading consumer technology and B2B solutions. Halogen’s 75 portfolio companies include five unicorns and have created over $15B market value and are100% female founded.

Photo courtesy of PRNewswire

SHEIN, the global online and fashion and lifestyle retailer, today announced its latest home collection, curated by luxury real estate expert and reality television personality Heather Rae El Moussa. Heather Rae knows a dream home isn’t just about finding the perfect listing — it’s about creating a space that feels uniquely yours. Now, the real estate and lifestyle expert is bringing her signature style to SHEIN with a curated home collection designed to make every space feel stylish, welcoming, and effortlessly lived in.

The star of Selling Sunset, The Flipping El Moussa, and The Flip Off’s believes that a well-designed home does not have to break the bank, making this an ideal partnership. Heather Rae’s curated SHEIN collection features a range of stylish home goods and accessories that add personality and flair to any space.

“Creating a beautiful home shouldn’t have to be overwhelming or expensive, it should be a reflection of your personal style,” says Heather Rae. “With the SHEIN x Heather Rae Home Must-Haves collection, I’ve curated pieces that instantly elevate any space, whether it’s your kitchen, bedroom, or backyard. I’m excited to help make affordable design feel luxurious and within reach for everyone.”

The SHEIN x Heather Rae Home Must-Haves Collection seamlessly blends timeless elegance and accessible luxury. It features an array of furniture and decor for the whole home, boasting a neutral palette that can easily be incorporated into any home.

SHEIN and Heather Rae invite fans to share how they style their spaces with pieces from the collection on social media by tagging @shein_us and using the hashtag #SHEINxHeatherRae. The SHEIN x Heather Rae Home Must-Haves Collection is now available on SHEIN.com.

Photo courtesy of PRNewswire

Adobe has announced the appointment of Louise Pentland as Chief Legal Officer and Executive Vice President. Pentland will report directly to Chair and CEO Shantanu Narayen and will lead the Legal and Government Relations team responsible for overseeing global legal and policy matters.

Pentland is a technology industry veteran with deep experience as chief legal officer at several global companies. She brings a combination of expertise in corporate transactions, litigation, M&A integration and compliance, and has a proven track record of sparking change in complex organizations.

“We are excited to welcome Louise Pentland to Adobe’s leadership team,” said Shantanu Narayen, Chair and CEO, Adobe. “Louise’s decades of experience driving transformations at global companies and leading cutting-edge legal organizations make her well suited to help drive Adobe’s continued growth.”

Pentland joins Adobe from Roku, where she served as Senior Vice President and General Counsel, leading regulatory, compliance and corporate governance. Pentland was previously Executive Vice President and Chief Counsel for Disney Experiences and Products, overseeing all legal and regulatory matters for the segment’s businesses, including global theme park destinations, cruise operations, global consumer products operations and e-commerce platforms. Before Disney, Pentland served as Chief Legal Officer at PayPal and Nokia, where she managed corporate transactions, complex litigation, ecosystem partnerships, government relations and Environmental, Social and Governance strategies on a global scale.

Pentland holds an LLB from Northumbria University in Newcastle-upon-Tyne, England.

Grainger, the leading broad line distributor of maintenance, repair and operating (MRO) products serving businesses and institutions, has announced the appointment of Melanie Tinto as Senior Vice President, Chief Human Resources Officer (CHRO). With this appointment, she will join the Grainger Leadership Team and oversee HR strategy and operations, including talent management, succession planning, compensation, organizational performance and benefits.

“As we continue to grow and evolve, it is essential that our most valuable asset—our team members—are supported, engaged, and motivated by strong leadership and a commitment to our principles,” said D.G. Macpherson, Chairman and CEO. “Melanie’s appointment underscores our commitment to having a culture where every team member has the opportunity to learn, develop and achieve success.”

Melanie joins Grainger from WEX, a financial technology solutions provider, where she served as CHRO. During her tenure, Melanie helped transform WEX’s HR function into a strategic business partner, focusing on developing high-performing teams and integrating technology to improve operations. Prior to joining WEX, Melanie served as Vice President of Global Talent Acquisition and Chief Learning Officer at Medtronic, and previously held leadership roles at Hewlett-Packard, Walmart and Bank of America.

Throughout her 30 years in the HR field, Melanie has demonstrated an innate ability to align people strategies with business objectives. Outside of work, Melanie enjoys spending time with her family and is active in her community. She will relocate to the Chicago area from Maine later this year.

PepsiCo, Inc. (NASDAQ: PEP) (“PepsiCo”) has entered into a definitive agreement to acquire poppi, a fast-growing prebiotic soda brand, for $1.95 billion, including $300 million of anticipated cash tax benefits for a net purchase price of $1.65 billion. The transaction also includes an additional potential earnout consideration subject to the achievement of certain performance milestones within a specified period after closing of the transaction.

“We’ve been evolving our food and beverage portfolio over many years, including by innovating with our brands in new spaces and through disciplined, strategic acquisitions that enable us to offer more positive choices to our consumers,” said Ramon Laguarta, Chairman and CEO, PepsiCo. “More than ever, consumers are looking for convenient and great-tasting options that fit their lifestyles and respond to their growing interest in health and wellness. poppi is a great complement to our portfolio transformation efforts to meet these needs.”

poppi is a fast-growing functional soda brand that combines prebiotics, fruit juice, and apple cider vinegar to create a deliciously refreshing low calorie soda with no more than five grams of sugar per serving. poppi’s consumer-first approach, cultural cache, and nutritional profile have nurtured a loyal fan base and driven rapid growth. poppi was created by Allison and Stephen Ellsworth, discovered on Shark Tank by Rohan Oza and funded by CAVU Consumer Partners from their initial seed round to today.

“As we look to reorient our portfolio offerings to address white space consumer needs, the poppi brand’s unique intersection with wellness and culture is a perfect addition to our portfolio,” said Ram Krishnan, CEO, PepsiCo Beverages U.S. “Allison and the poppi team have built a magnetic brand that’s ahead of the trends, with a loyal consumer base and a demonstrated capacity for growth. We are big fans of the poppi brand movement and believe this incredible brand paired with our commercial capabilities will drive continued growth and innovation for years to come.”

“When I created poppi in our kitchen, it was fueled by a desire to create a better-for-you soda,” said Allison Ellsworth, Co-Founder of poppi. “We never imagined how many people we could reach through hard work, determination and a clear mission to create a functional soda that stands the test of time. We believe poppi is the soda that will be embraced for generations to come, and we’re beyond grateful to the amazing poppi team, our partners who believed in us from the very beginning and most importantly our incredible community. We can’t wait to begin this next chapter with PepsiCo to bring our soda to more people – and I know they will honor what makes poppi so special while supporting our next phase of growth and innovation. I hope our story inspires others to explore their passions, take the risk, and believe that anything is possible.”

“poppi is a true testament to the American Dream! From the kitchen to Shark Tank to becoming an iconic brand, this couldn’t have been done without the amazing founders Allison and Stephen Ellsworth, the incredible team in place led by CEO Chris Hall, the unmatched support of CAVU’s Uncommon team led by Stevie Clements, and the extraordinary poppi community,” said Rohan Oza, Guest Shark on ABC’s Shark Tank and Co-Founder at CAVU Consumer Partners. “We’re beyond thrilled to be partnering with PepsiCo so that even more consumers across America, and the world, can enjoy poppi – a truly modern soda for the next generation.”

The transaction is subject to customary closing conditions, including regulatory approval. Additional terms of the acquisition were not disclosed.

Centerview Partners LLC is acting as lead financial advisor to PepsiCo, and J.P. Morgan Securities LLC is also acting as a financial advisor to PepsiCo. Cravath, Swaine & Moore LLP is acting as legal advisor to PepsiCo, and Davis Polk & Wardwell LLP is acting as tax counsel to PepsiCo. Goldman Sachs & Co. LLC is acting as financial advisor to poppi, and Cooley LLP is acting as legal advisor to poppi.