Third Leaf Partners
Private equitySan Francisco · Seed · 3 people tracked
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Investment thesis
Third Leaf Partners focuses on acquiring control of closely held businesses at fair prices, emphasizing off-market transactions with special circumstances or unusual dynamics. The firm helps existing partners or founding principals retain ownership while expanding their businesses or replacing partners seeking liquidity. It provides capital and develops and executes strategies for growth and expansion, and assesses, structures, and executes the acquisition or disposition of assets, subsidiaries, or adjacent lines of business. Its activity is concentrated in hospitality (resorts and mountain clubs) and beverage (wine) investments, and it also advises wineries across California, Oregon, Washington, New York, South Africa, and Spain.
Source: firm website, verified Oct 2, 2026.
Team · 3 people
from the firm's websiteWhat they invest in
from 11 of 14 portfolio companiesConsumer ×9Travel & Hospitality ×6E-commerce ×3Wellness & Fitness ×3Direct to Consumer ×2Marketplaces ×2Construction Tech ×1FoodTech ×1
HQs:United States×7
Investments · 14 tracked
founders shown can be your intro pathUnderground Cellar is an online wine retailer offering daily curated wine deals from wineries across Napa Valley, France, and beyond, with surprise upgrades to higher-value bottles included with each purchase.
ConsumerDirect to ConsumerE-commerceFoodTechMarketplacesSan Francisco, US
Ben Herila(Founder)inBrian Gallagher(Founder)inJeffrey Shaw(Founder)inBrandan Zaucha(Founder)in
Co-investorsY CombinatorZillionizeAccompliceAgrolimen VenturesAudubon PartnersBling Capital+3 more
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
Antica TerraMulderboschThe Napa Valley Reserve
Frequently asked questions
- How many investments has Third Leaf Partners made?
- Third Leaf Partners has 14 tracked investments.
- What stage does Third Leaf Partners invest at?
- Third Leaf Partners invests at the Seed stage.
- What sectors does Third Leaf Partners focus on?
- Third Leaf Partners focuses on Consumer, FoodTech, Travel & Hospitality.
- Where is Third Leaf Partners located?
- Third Leaf Partners is headquartered in San Francisco, US.
- Does Third Leaf Partners lead rounds?
- Yes, Third Leaf Partners leads investment rounds.
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