In Brands, Finance

Investment in the box game keeps flowing. Private equity firm KarpReilly made an undisclosed investment in Miami-based subscription service Boxycharm.

WHO: Founded in 2013 by Yosef Martin, Miami-based Boxycharm is a monthly beauty box subscription service delivering full-sized beauty and cosmetics products from both well-known and up-and-coming brands for only $21 per month.

KarpReilly, LLC is a private investment firm, founded by Allan Karp and Chris Reilly, to partner with premier small to mid-size growth companies and help them achieve their long-term vision. KarpReilly currently manages funds and affiliates with capital commitments in excess of $500 million. Over the past 15 years, the principals of KarpReilly have invested in, sat on the boards of, and nurtured over 25 growth companies.

WHY: The capital will help grow the business, expand the management team, and fund innovative marketing initiatives.

IN THEIR OWN WORDS: “From our first conversation, KarpReilly understood the passion and vision for the future of the company and we knew that was the start of what will surely be a long and successful relationship,” Boxycharm Founder & CEO Joe Martin commented. “KarpReilly is excited to partner with Joe and the Boxycharm team. We are very impressed with what they have been able to accomplish by focusing on delivering a best-in-class experience to their subscribers and look forward to supporting them in their continued growth,” KarpReilly co-founder Allan Karp said.

DETAILS:

  • KarpReilly, a Greenwich, Connecticut-based private equity firm, made an undisclosed investment.
  • Cassel Salpeter & Co. served as exclusive financial advisor to Boxycharm.
  • Berger Singerman LLP acted as legal counsel to Boxycharm.
  • Ropes & Gray LLP provided legal advice to KarpReilly.

Read the full release at KarpReilly.

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