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Butterfly

Private equityoperating company · company profile

Beverly Hills · Growth–Late Stage · 55 people tracked

Also known as Butterfly Equity Lp

Find your way into Butterfly

732 people in our graph share verified history with the Butterfly team — schools, employers, funds. One of them is your warm intro.

Rebecca Jamesunlockedknows Aaron Kirkbride · together at The Wharton School (overlapped)
×6knows the team · via The Wharton School
knows the team · via Moelis & Company
×2knows the team · via University of Notre Dame
×2knows the team · via Permira
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Investment thesis

Butterfly Equity is an investment firm focused on the food sector, with expertise across food, private equity and technology.

Source: firm website, verified Sep 15, 2026.

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

Team · 55 people

from the firm's website & public directories
Elena Lopez· Operations Manager, Foundation
Emily Parker· Executive Director, Foundation
Francesco D’Arcangelo· Managing Director, Investment Team
Christian Mandrakos· Vice President, Investment Teamin
Alex Ma· Senior Associate, Investment Team
Angelina Oh· Associate, Capital Formation
Charlotte Porter· Vice President, Transformation Teamin
Karlie VanHouten· Senior Associate, Investment Teamin
Kelly Shen· Associate, Transformation Team
Kimberly Lu· Vice President, Capital Formationin
Kylie Lowe· Executive Assistant
Lauren Singer· Associate, Transformation Team
Luis Téllez· Operating Advisor
Matt Stewart· Vice President, Transformation Teamin
Melissa Peterson· Director, Office of Adam Waglay, CEOin
Meredith Sandland· Operating Advisor
Nick Platt· Associate, Investment Teamin
Nicole O'Neil· Managing Director, Transformation Teamin
Nina Solá· Senior Manager, Transformation Teamin
Wayne Sales· Operating Advisor
Dustin Beck· Director

What they invest in

from 6 of 15 portfolio companies

Consumer ×5Advanced Manufacturing ×4FoodTech ×4Circular Economy ×2Wellness & Fitness ×2Climate Tech ×1Direct to Consumer ×1E-commerce ×1

HQs:United States×4

Investments · 15 tracked

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

EPAC Flexibles manufactures custom printed flexible packaging including stand-up pouches, lay-flat pouches, and roll stock for various products.

Advanced ManufacturingCircular EconomyE-commerceNew MaterialsDel Mar, US

Virag Patel(Co-Founder and Chief Executive Officer)in

Actus Nutritionactus.comin

Actus Nutrition manufactures and supplies protein, fat, and functional nutritional ingredients derived from milk and whey for food and beverage manufacturers.

Advanced ManufacturingConsumerFoodTechHealthtechWellness & FitnessEden Prairie, US

Custom Flavorscustomflavors.comin

Custom Flavors develops and manufactures customized flavors derived from natural sources for food and beverage companies of all sizes.

Advanced ManufacturingCircular EconomyClimate TechConsumerFoodTechSouth Orange County, US

Mike Wendling(Co-founder)inSteve Bishop(Co-founder & Executive Vice President)inAlex Wendling(President)in

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)in

Co-investorsDCP CapitalRx3 Growth PartnersACE & Company

Pacifico Aquaculturepacificoaquaculture.com

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

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 produces artisan breads and rolls using traditional European baking techniques, serving bakeries and food service businesses seeking to offer quality bread products to their customers.

Advanced ManufacturingConsumerFoodTech

The Duckhorn Portfolioduckhornportfolio.comin

Duck Horn Portfolio is a portfolio company with a focus on wine and spirits businesses, led by experienced executives from consumer and luxury brands.

ConsumerFoodTech

Robert Hanson(Chief Executive Officer)in

Other

Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.

Bolthouse Fresh FoodsChosen FoodsEpacGenerous BrandsMaryRuth OrganicsPete & Gerry's OrganicsTarget Flavors

Portfolio news

latest coverage across their companies

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 AgTech, 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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