Adore Beauty founder Kate Morris co-creates purpose-led private equity firm

Kate Morris has co-founded a new private equity firm in an effort to knock down the walls she faced as a female founder raising capital for Adore Beauty.

The new venture, Glow Capital Partners, aims to help purpose-led founders make a positive impact through business, according to Morris.

“My experience as a woman founder trying to raise capital was one of walking into rooms full of men in suits,” Morris said.

“I’d built a successful and fast-growing business, but was ignored or dismissed by so many who didn’t understand, or did not want to take the time to understand the beauty market. I am convinced that the only way to change [the funding experience] for the women who come after me is to be part of building a better alternative.”

Morris’ partner in the new endeavor is Justin Ryan, chairperson of Adore Beauty.

The new firm will invest in later-stage growth companies, with investments between $20 and $50 million, which have a purpose-driven values.

“We believe diversity (in all it’s forms) creates more valuable companies, and so we’re looking for market leading and purpose driven brands that value culture and have a strong connection to their employees and customers,” the business’s website reads.

“Glow is the right choice for founders who are building their businesses in a responsible, ethical, and sustainable way.”

This story first appeared on our sister publication Inside Retail