Cult capital defines “cult brands” as those that truly change the world by offering a product that wouldn’t otherwise exist — and whose absence would leave a meaningful void. This philosophy guides the firm’s investment approach, focusing on brands with fiercely loyal fan bases that create a deep sense of belonging and identity.
Cult Capital seeks out brands that offer more than just products — they provide a lifestyle. Specializing in beauty and personal care, food and beverage, household, pet and apparel, their portfolio of standout brands includes Supergoop, Act+Acre, Lawless Beauty, Subtl Beauty and more.
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Cult Capital is not only investing in cult brands but also redefining the investor-founder relationship by fostering meaningful, long-term partnerships. Their five-stage process — immersion, alignment, growth, optimization and exit — ensures alignment at every step.
Here, John Kenney and Sarah Woelfel, partners and cofounders of Cult Capital sat down with Fairchild Studio to discuss the firm’s inception, investment philosophy, how they measure ROI for their partner brands and more.
Fairchild Studio: What led you to cofounded Cult Capital?
John Kenney: We cofounded Cult Capital to fill a gap in the consumer investment landscape between venture capital and private equity. After 20 years of investing, I encountered promising brands that didn’t need a large capital injection or to give up control but could benefit from experienced guidance to scale.
After leaving the private equity firm where I was a partner, I began angel investing with Sarah’s support. With a successful background in banking and mezzanine finance, Sarah was eager to transition into consumer investing. Her distinctive ability to provide a holistic view of any investment has been pivotal to our success. With my experience and knowledge for the consumer space and Sarah’s grit and determination, we’ve built Cult Capital into what it is today.
Fairchild Studio: How does the firm’s name Cult Capital reflect in the firm’s investment philosophy?
Sarah Woelfel: The name Cult Capital was born out of our deep belief in the power of cult brands — those that do not just sell products but create a lifestyle and a loyal, almost fanatical, following. We saw an opportunity to build a firm dedicated to these unique consumer brands that hyper-connect with their audience and offer something the world truly needs.
The name reflects our investment philosophy: we invest in brands that are rare, remarkable and capable of changing the world. Our approach goes beyond traditional investing. It’s about partnering with founders to aid their vision and help them scale while staying true to their core values.
Fairchild Studio: How do you define a cult brand?
S.W.: A cult brand transcends the typical consumer experience to create a deep, emotional connection with its audience. It’s not just about the product, it’s about the lifestyle and identity that the brand represents. Cult brands offer something truly special.
These brands inspire fierce loyalty and a committed following, often because they align with the values and aspirations of their consumers. At Cult Capital, we seek out these rare and remarkable brands because we believe they have the power to change the world.
Fairchild Studio: What has stood out to you about the brands you’ve invested in?
J.K.: We are intentionally very selective about the brands we invest in and every brand we have invested in is a cult brand. With deep experience in the beauty sector, we’ve partnered with several standout brands, including Supergoop, Lawless Beauty, Act+Acre and Babo Botanicals.
Each of these brands not only has an inspiring founder story but also offers something truly unique. Supergoop redefines sun protection, Lawless Beauty introduces clean formulations to full coverage glam, Act+Acre elevates hair care through scalp health and Babo Botanicals delivers high-quality, safe skin care for families. These brands embody the innovation and authenticity we seek in every investment.
Fairchild Studio: After an investment, how do you support the brand in scaling while staying true to its values?
J.K.: After we invest, our support goes far beyond just providing capital. We are committed to helping our partner brands scale in a way that remains true to their core values and vision. This begins with working closely with founders to develop a thoughtful, strategic growth plan that is both ambitious and capital-efficient.
We pride ourselves on creating a modern, purposeful collaboration that breaks down the traditional barriers between investors and founders. We focus on key areas such as building a strong executive team, optimizing distribution and sales channels and identifying and scaling hero products. By maintaining this close alignment and providing the resources they need, we ensure that our brands can grow without compromising their authenticity.
Fairchild Studio: How do you build a strong relationship with the brands’ founders and then maintain a supporting role with them as they expand?
S.W.: Building a strong relationship with the brands’ founders is foundational to our approach at Cult Capital. We begin by fostering open and honest communication from Day One, ensuring that there is a deep understanding of vision, values and goals. This relationship is built on trust and mutual respect, where we see ourselves not just as investors but as true partners in their journey.
We take the time to get to know the founders personally, understanding their unique styles, strengths and challenges — which allows us to provide tailored support that aligns with their needs. Our goal is to empower founders to lead their brands confidently, knowing they have a partner who is fully invested in their success and ready to help them tackle any challenges that arise.
Fairchild Studio: How do you measure the impact and success of your brand investments beyond financial ROI?
J.K.: While financial ROI is important, we believe that genuine success goes beyond the numbers. We measure the impact of our brand investments using both qualitative and quantitative metrics. Key indicators include the strength and loyalty of the brand’s community, the brand’s ability to stay true to its mission while scaling and its influence within the industry.
We also look at how well the brand resonates with its target audience and its ability to foster a strong emotional connection. Customer engagement, brand sentiment and the impact on broader consumer trends are all critical factors in our assessment.
Fairchild Studio: What is your long-term vision for Cult Capital and the future of the brands you invest in?
S.W.: Our long-term vision for Cult Capital is to continue being the premier partner for cult brands that redefine their categories and create a lasting cultural impact. We aim to build our Cult Capital family by identifying and supporting the next generation of innovative consumer brands.
We are focused on helping our partner brands scale sustainably, staying authentic to their core values while expanding their reach and influence. We believe that by fostering strong relationships with visionary founders and providing the strategic aid they need, we can help these brands achieve long-term success and make a meaningful difference in the lives of their customers.