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Animal Capital
Creator-powered consumer venture · Fund III closed June 2026

The first venture firm with access to 100M+ engaged consumers across the world.

Animal Capital converts creator and celebrity endorsements into equity — then puts that reach to work for its portfolio. Pre-seed to Series A, across consumer, fintech, health and media.

Cheetah — the Animal Capital cast
Giraffe — the Animal Capital cast
Gorilla — the Animal Capital cast
Hippo — the Animal Capital cast
Woolly mammoth — the Animal Capital cast, and the mascot of portfolio company Colossal Biosciences
Red panda — the Animal Capital cast
The cast, est. 2021 New York → everywhere
$33M
Fund III — closed June 2026, larger than Funds I & II combined
Top 1%
IRR — Fund I & Fund II vintages
3 + 4
Decacorns + unicorns across the portfolio
60–70%
Graduation rate, Seed → Series A/B

Fund history

Fund I · 2021
$13M
Fund II
$16M
Fund III · 2026
$33M

Performance and fund figures as stated in the June 2026 Fund III announcement.

01 — Thesis

Endorsements, converted into equity.

Animal Capital was founded in 2021 by Marshall Sandman — ex-Goldman Sachs, and previously leading venture capital at WarnerMedia — together with creators Josh Richards, Griffin Johnson and Noah Beck. The origin story is now venture folklore: during COVID, with no fund yet raised, Sandman cold-DMed some 3,000 celebrities to test one idea — creators should own equity in what they promote, not just collect endorsement fees.

The result is a distribution moat no term sheet can copy: a network of creators and celebrities with 100M+ combined reach who work portfolio companies — closing deals, driving launches, promoting products. Five years in, the model reads institutional: top-1% IRR across both prior vintages and a 60–70% graduation rate from Seed to Series A/B.

“The fund will continue to target early-stage, primarily U.S.-based investments that leverage technology to make consumers’ lives better, more efficient, or more entertaining.”
Fund III announcement · June 2026
Stage
Pre-seed → Series A
Check size
$100K – $1M
Leads rounds
No — we amplify them
Focus
Consumer · Fintech · Health & Wellness · Media · CPG
Geography
Primarily U.S.
The edge
Creator network, 100M+ combined reach, working every deal
02 — Portfolio

The menagerie.

Fourteen named companies. Three decacorns and four unicorns — plus exits to Snap, Shopify, BIC and eBay.

Decacorn

Whatnot

$11.5Bvaluation

Live-shopping marketplace — social commerce at decacorn scale, and reportedly one of the fund’s ~100x outcomes.

Decacorn

Colossal Biosciences

$10.3Bvaluation

De-extinction and genetic engineering — bringing back the woolly mammoth.

Yes — that mammoth,
from the lineup above
The Animal Capital mammoth — mascot for portfolio company Colossal Biosciences
Unicorn

Whop

$1.6Bvaluation

Marketplace for digital products and communities — creator commerce infrastructure.

Unicorn

Underdog

$1.3Bvaluation

Fantasy sports and sports gaming — one of the fastest-growing names in the category.

Also in the portfolio

Exits

  • Saturn Acquired by Snap
  • Deliverr Acquired by Shopify
  • Inkbox Acquired by BIC
  • Stage10 Acquired by eBay

Valuations as reported in the June 2026 Fund III announcement.

03 — Team & Network

Wall Street discipline. Creator distribution.

Investing team

  • Marshall Sandman
    Managing Partner

    Ex-Goldman Sachs; led venture capital at WarnerMedia. Built the firm by cold-DMing ~3,000 celebrities during COVID.

  • Dylann Sands
    Managing Partner

    Ex-Goldman Sachs investment banking; joined in 2022.

  • Michael Gruen
    General Partner
  • Sameep Mangat
    Chief of Staff

The distribution engine

  • Josh Richards
    Co-founder · Advisor
  • Griffin Johnson
    Co-founder · Advisor
  • Noah Beck
    Co-founder · Advisor

    Together, the creator co-founders bring 100M+ combined following — instant distribution, working portfolio deals from launch to Series A.

The LP base reads like the model itself: investors publicly include Paris Hilton, Kevin Mayer, Pete Davidson and Mark Wahlberg.

“We want to be MVP’s in our category. We delivered significant value to our investors in a market cycle where creator funds have died out. We deliver the most value from pre-seed to Series A, and we’ll keep doing that just the way we always have.”

Marshall Sandman, Managing Partner — on the close of Fund III, June 2026

For all investor, founder and press inquiries please contact info@animalcapital.com

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