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Butterfly

Private equity

Beverly Hills · Growth–Late Stage · 53 people tracked

Also known as Butterfly Equity Lp

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Investment thesis

Butterfly Equity is an investment firm with experience across food, private equity and technology, having invested more than $20 billion of equity capital in companies ranging from growth-stage to Fortune 500 enterprises.

Source: firm website, verified Aug 25, 2026.

Stage
Growth–Late Stage
HQ
Beverly Hills, CA, US
Instruments
Equity
Founded
2026
AUM
$7.1B
Tracked investments
15

Team · 53 people

from the firm's website
Elena Lopez· Operations Manager, Foundation
Emily Parker· Executive Director, Foundation
Eric Tommarello· Managing Director, Investment Team
Francesco D’Arcangelo· Managing Director, Investment Team
Christian Mandrakos· Vice President, Investment Team
Alex Ma· Senior Associate, Investment Team
Charlotte Porter· Vice President, Transformation Team
Joshua Prentice· Associate, Investment Team
Karlie VanHouten· Senior Associate, Investment Team
Kate Walker· Executive Assistant
Kelly Shen· Associate, Transformation Team
Kimberly Lu· Vice President, Capital Formation
Kylie Lowe· Executive Assistant
Lauren Singer· Associate, Transformation Team
Luis Téllez· Operating Advisor
Matt Stewart· Vice President, Transformation Team
Melissa Peterson· Director, Office of Adam Waglay, CEO
Meredith Sandland· Operating Advisor
Nick Platt· Associate, Investment Team
Nicole O'Neil· Managing Director, Transformation Team
Nina Solá· Senior Manager, Transformation Team
TJ Walsh· Senior Manager, Transformation Team
Wayne Sales· Operating Advisor

What they invest in

from 6 of 15 portfolio companies

Advanced Manufacturing ×4FoodTech ×4Consumer ×2Wellness & Fitness ×2Circular Economy ×1Direct to Consumer ×1New Materials ×1

HQs:United States×1

Investments · 15 tracked

founders shown can be your intro path
ePac Flexible Packagingepacflexibles.comin✓ verified

ePac Flexible Packaging is a custom flexible packaging manufacturer that uses wide-web digital printing to produce stand-up pouches, lay flat pouches, and roll stock for consumer brands across food, snacks, pet treats, and supplements.

Advanced ManufacturingCircular EconomyNew MaterialsDel Mar, US

Actus Nutritionactus.comin

Actus Nutrition manufactures protein, fat, and functional nutritional ingredients—including whey proteins, milk proteins, casein, and caseinate—and offers custom formulations and private label solutions for food manufacturers in markets such as sports nutrition, healthy snacking, breakfast cereal, and infant and geriatric nutrition.

Advanced ManufacturingFoodTechWellness & Fitness

Bolthouse Fresh Foods

Bakersfield, CA vertically integrated produce company with a leading position in carrot products; founded 1915.

Chosen Foods

Avocado oil-based products brand offering oils, sprays, mayos, dressings, and sauces; America's #1 avocado oil brand.

Custom Flavorscustomflavors.comin

Custom Flavors develops customized flavor formulations tailored to clients' specific products.

Advanced ManufacturingFoodTech

Epac
Generous Brands

Beverage and nutrition company home to Bolthouse Farms, Evolution Fresh, Health-Ade, and a SAMBAZON joint venture.

MaryRuth Organics

Los Angeles-based vitamins, minerals, and supplements brand offering organic and vegan nutritional supplements for the whole family.

Orgainorgain.com𝕏

Orgain makes clean nutrition products, including protein powders and shakes in flavors like chocolate, vanilla, and strawberry.

ConsumerDirect to ConsumerWellness & Fitness

Andrew Abraham(Founder)

Co-investorsDCP CapitalRx3 Growth PartnersACE & Company

Pacifico Aquaculturepacificoaquaculture.com

Ensenada, Baja California producer of ocean-raised premium striped bass; a leader in sustainable aquaculture.

Pete & Gerry's Organics

New Hampshire-based #1 premium egg producer in the U.S. by volume, with humane and B Corp certifications.

QDOBAqdoba.com

Fast-casual Mexican restaurant chain with over 800 locations across the U.S., Canada, Puerto Rico, Japan, and South Korea.

Co-investorsBCI

Rise Baking Companyrisebakingcompany.comin

Rise Baking Company is a bakery manufacturer and supply partner offering a range of bakery brands and products to business customers across North America.

Advanced ManufacturingFoodTech

Target Flavors

Newport News, VA full-service flavor house serving CPG brands and co-manufacturers across beverage, dairy, pharmaceutical, and bakery industries.

The Duckhorn Portfolioduckhornportfolio.comin

The Duckhorn Portfolio is a wine producer focused on grape selection, winemaking, and barrel-aging to make premium wines.

ConsumerFoodTech

Fund performance · per public LP disclosures · 2

as of Jun 2025
FundVintageCommittedNet IRRTVPIDPI
Butterfly II, LPLPs: California Public Employees' Retirement System202213.8%1.27x0.32x
Butterfly Fund II, LPLPs: Texas Municipal Retirement System16.3%1.73x0.71x

Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).

Frequently asked questions

How many investments has Butterfly made?
Butterfly has 15 tracked investments.
What stage does Butterfly invest at?
Butterfly invests at the Growth, Late Stage stages.
What sectors does Butterfly focus on?
Butterfly focuses on FoodTech.
Where is Butterfly located?
Butterfly is headquartered in Beverly Hills, US.
Who does Butterfly co-invest with?
Butterfly most often shares deals with BCI, DCP Capital, Rx3 Growth Partners, among 3 tracked co-investors.

Images

Butterfly photo

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