Zinger Key Points
- Mark Bezos, brother of Jeff Bezos, has a new investment fund backing private companies.
- The $100 million fund has invested in six companies, including one founded by Kylie Jenner.
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Amazon.com founder Jeff Bezos is one of the richest people in the world, worth $200 billion. Brother Mark Bezos could follow in the success of his older brother with a career in private investments.
What Happened: Mark Bezos and David Moross recently launched HIPstr, an early-stage investment arm for their HighPost Capital private investment firm. HIPstr, raised $100 million and has invested in six companies, including one linked to Kylie Jenner.
HIPstr is set to invest in what it calls early-stage consumer growth and consumer technology enablement companies. Bezos and Moross launched the new investment arm to invest in early-stage businesses "that did not fit the investment criteria of HighPost's" traditional investment strategy.
"We launched HIPstr to capitalize on an attractive market opportunity driven by a reset in early-stage company valuations alongside a structural shift in how entrepreneurs scale companies," Moross said.
The investment company has made six investments across the food and beverage, household and home living, disruptive consumer-facing technologies and selective apparel sectors.
HIPstr's six investments include leading or investing in Series A rounds for Closer, Sprinter (Jenner’s company), Wild Common, EverFence, RAD and After.com.
"We look forward to continuing to identify highly compelling opportunities for our investors and working with entrepreneurs to help them build and scale their high-growth and capital-efficient brands," Moross added.
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Why It's Important: HIPstr has invested around 40% of the $100 million raised for the fund according to Moross, as reported by Bloomberg.
The company led a $10 million Series A funding round for After.com, which is a cremation services startup.
HIPstr's investment in Sprinter could attract attention with the ready-to-drink vodka soda maker founded by Jenner. The brand uses real fruit juice, premium vodka and sparkling water in its products including several fruit flavors.
Jenner is the fifth most followed person on Instagram with 398 million followers and part of the well-known Kardashian/Jenner family.
Kylie Cosmetics, which was founded by Jenner, was sold to Coty Inc COTY previously with the beauty company owning 51% and Jenner retaining 49%.
HighPost previously raised over $500 million for its first fund in 2022 with the Jeff Bezos family among the investors. Mark Bezos was an early investor in Amazon, committing $10,000 in 1996 that could be worth over $1 billion if he has not sold any of his position since.
HighPost is the largest shareholder in Magic Spoon, a sugar-free cereal company, and owns Centr, a wellness company founded by actor Chris Hemsworth.
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Photo: Kylie Jenner via Walt Disney Television via Flickr Creative Commons
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