Background
SIZE Capital, established in 2023, is a growth-stage investment firm headquartered in Los Angeles, California. The firm is dedicated to partnering with companies and their leadership teams to fuel expansion, leveraging a unique ecosystem of insights, networks, and resources to unlock the potential of the next generation of commerce technology companies.
Key Strategic Focus
SIZE Capital focuses on companies that address significant challenges within the commerce ecosystem, offering innovative, asset-light business models in mission-critical areas. The firm targets businesses with proven product-market fit and customer adoption, seeking growth levers where SIZE can provide unique market insights and accelerate momentum through its extensive end-market network. Investment sectors include commerce enablement, customer engagement, marketing technology, retail technology, logistics and fulfillment, frontline worker technology, B2B commerce, and fintech for commerce. Preferred business models are recurring and highly re-occurring, such as SaaS, marketplaces, and subscription models.
Financials and Funding
SIZE Capital launched its $200 million Fund I as a foundation for building a sector-focused, multi-billion-dollar investment firm. The firm has a proven track record, achieving over 100% internal rate of return (IRR) and a 2.0x multiple on invested capital (MOIC) on exits from more than $300 million of invested capital. The engaged limited partner (LP) base includes corporates, commerce-tech founders, and strategic family offices, driving a flywheel of ideas and innovations that create value beyond financial returns.
Leadership Team
- Anand Subramanian, Managing Partner: An accomplished senior executive with deep expertise in commerce technology, marketing tech, fintech, and vertical software. He has delivered investment returns exceeding 210% IRR as an independent General Partner in 2021/2022 and over 100% IRR on exits while co-heading growth equity at Macquarie on over $300 million of invested capital. Anand scaled Macquarie's growth and structured equity principal strategy from concept into a dedicated $750 million strategy from 2017 to 2021.
- Brian Schwartz, Co-Founder / Marketing, Growth, Strategy: Founder of SIZE, an advisory group supporting over 60 late-stage technology and consumer companies, and SIZE Capital. Previously, he was Vice President of Global Marketing for Expedia Group's $5.4 billion lodging group and held leadership roles at DreamWorks Animation, building a division to $1.2 billion in retail sales. Brian holds a Master's in Finance from the London School of Economics and a Bachelor of Arts from Indiana University.
- Jim Winett, Co-Founder / Strategic Planning, Operational Restructuring, and Investment Committee: With over 30 years of experience in finance, strategy, and operations, Jim has worked with early-stage startups to Fortune 50 companies. His consulting practice includes managing M&A activities for a PE-backed automotive aftermarket company and serving as an Executive in Residence at the Los Angeles Cleantech Incubator. Jim received his MBA from the Kellogg School of Management at Northwestern University and a Bachelor of Science in Accounting from the University of Illinois at Urbana-Champaign.
Competitor Profile
SIZE Capital operates in the competitive landscape of growth-stage investment firms focusing on commerce technology. Notable competitors include:
- General Atlantic: A global growth equity firm investing in sectors such as technology, consumer, and financial services. In 2020, General Atlantic invested $870 million in India's digital services platform Jio Platforms.
- CVC Capital Partners: A leading private equity and investment advisory firm with a diverse portfolio across various industries. In 2004, CVC and Permira acquired the British motoring association The AA.
- The Carlyle Group: A global investment firm managing assets across multiple disciplines, including private equity and real estate. As of 2024, Carlyle reported assets under management of $441 billion.
Strategic Collaborations and Partnerships
SIZE Capital leverages its extensive network to provide portfolio companies with access to leading commerce technology companies and enterprise brands. This ecosystem facilitates unique market insights and accelerates company momentum through end-market networks and reach.
Operational Insights
SIZE Capital's hands-on, practitioner-led approach differentiates it from competitors. By flipping the traditional sourcing funnel, the firm delivers a steady flow of high-quality investment opportunities. The engaged LP base, including corporates and commerce-tech founders, drives a flywheel of ideas and innovations, creating value beyond financial returns.
Strategic Opportunities and Future Directions
With a robust pipeline and a differentiated, hands-on model, SIZE Capital is well-positioned to capitalize on growth opportunities within the commerce technology sector. The firm's strategy focuses on partnering with companies that have proven product-market fit and customer adoption, providing the necessary guidance and resources to enable sustainable growth.
Contact Information
For more information, visit SIZE Capital's official website.
