Richard was born and raised in London, and has spent his entire career in finance within the consumer sector, having started out in Citi’s Consumer and Retail M&A team. He loves discovering growing brands that are doing something innovative — be that through product, marketing execution or great economics. Outside of True, he’s a keen sports spectator and enthusiast, and an avid reader (all recommendations welcome).
At the time, True was just starting out and had a vision to be the focal point for the consumer sector. I wanted to be an integral part of something ambitious, surrounded by good people, and to be an investor into the sector for which I have always been incredibly passionate.
I look for cool companies to put True’s money into for a long time. For a couple of years, we’ll use our friends to help the company get bigger, and then I’ll sell the company when it is worth a lot more than when we started … and the people who are in charge of the company will become our friends along the way!
I love the People. Whether in True or throughout the Live Network, the types of people we interact with are great at what they do, but also make sure they are authentically themselves and have fun along the way. I find it challenging when we find awesome businesses to invest in but we can’t invest at the time because they aren’t big enough.
I have always loved Lululemon. Everything seems so slick and simple. They were the original gangsters of creating simple, understated, incredibly well-designed, community-led, sports apparel. Their culture and ethos was well ahead of its time too. Their stores are community temples for yoga, they absolutely owned a space that they had no right to own given the giants they were up against — and the same goes for On Running and, of course, Gymshark.
My father, who ran the family’s menswear business with his brother and is also now ironically an investor in the consumer growth space. A typical Saturday growing up would be visiting one of his stores in a shopping centre somewhere on the outskirts of London!
As specialist investors in the consumer space, we are fascinated by shifts in behaviour, such as the move towards at-home fitness, and what they mean for brands and business models longer term. Trying to predict which behavioural shifts will become permanent is a key part of our role. Here we look at the health and fitness sector.
Sneak is disrupting the energy drinks market, with a distinctively branded healthy alternative. We believe that Sneak has the creativity, brand power, product attributes, and founding team to continue its disruption of the UK energy drinks market and to grow internationally, both in the US and Europe.
“Oscar’s a delight to work with, he loves data and analysis but will always combine this with a smile to get the best result for everyone.”
“Incredibly smart, highly motivated and genuinely passionate, Catherine is truly remarkable and the exact type of person you’d want on your team.”