Summary
A new campaign called Opportunity Knocks is launched to provide startup consumer packaged goods (CPG) brands with direct access to leading retailers, distributors, investors, and media. Active subscribers to Startup CPG will have exclusive submission windows on Fridays, allowing them to share their brand stories and product details through tailored forms. Some campaigns will also feature live discussions with partners, emphasizing the importance of aligning on valuation expectations early in fundraising conversations.
Hannah Dittman, host of the Startup CPG podcast, interviews Maura O'Connell from ASTO Consumer Partners, who shares insights from her extensive finance and consumer investing background. O'Connell discusses the criteria for investment, focusing on brands with regular replenishment rates, typically in food, beverage, and personal care sectors, and emphasizes the importance of aligning with investors on growth strategies and valuation.
The conversation highlights the challenges and opportunities faced by brands as they scale, particularly the need for operational support and strategic guidance. O'Connell notes that successful partnerships require a deep understanding of the business landscape, as well as a commitment to helping founders navigate critical growth decisions. She encourages early-stage founders to prioritize customer loyalty, product quality, and effective messaging while building their teams and exploring growth opportunities.
Show Notes
In this Investor Spotlight, host Hannah Dittman sits down with Moira O’Connell, Vice President at Astō Consumer Partners, to unpack what late-stage consumer investors look for in a brand, how founders can tell whether an investor is the right fit, and what early-stage brands can learn from companies that have already scaled.
Moira started her career in investment banking at Bank of America’s financial sponsors group before moving to the growth fund at L Catterton, where she worked across food, beverage, beauty, fitness, and consumer tech. She joined Astō during its first fundraise, drawn to the operator mindset of its founding partners, whose operating careers include Sweet Leaf Tea, Deep Eddy Vodka, and SkinnyPop. Astō is wholly focused on CPG and typically backs profitable brands above $40 million in sales through minority investments of $25 million to $75 million.
Hannah and Moira dig into what “late-stage growth” means, the profile of a sweet spot company, and case studies including Clean Skin Club, Bloom Nutrition, and Starface. They also cover primary versus secondary capital, what it takes to grow from $1 million to $25 million and beyond, why alignment on valuation and growth levers saves everyone time, and how to find an investor who truly plays in your lane. Listen in as they discuss: How Astō’s late-stage approach sits between growth equity and private equity, with minority stakes and $25M to $75M checks How the operating backgrounds of Astō’s partners shape the way they support founders Why brands with proven product-market fit still need a partner to manage execution risk What Clean Skin Club and Bloom Nutrition show about customer loyalty and growth levers like retail and new categories Why Astō’s board members work alongside management on hiring, budgets, and channel strategy Primary versus secondary capital, and why letting founders take some chips off the table can help them focus What it takes to get from $1 million to $25 million: nail the product, nail the messaging, and make a pivotal early hire Why quality of revenue matters more than growth for its own sake, using Costco as an example Why aligning on valuation and growth levers early saves founders and investors time How to find the right investor: study portfolios and check sizes, reach out on LinkedIn, and use resources like fractional CFO firms
Want to connect with buyers, investors, and industry experts in real time? Join our free Slack community with over 40,000 members. Get access to exclusive events and trade shows where you can meet buyers and investors in person, plus free resources and more. Just text CPG to 833-605-7002 and we’ll get in touch.
Episode Links: Moira O’Connell LinkedIn: www.linkedin.com/in/moira-o-connell Astō Consumer Partners LinkedIn: www.linkedin.com/company/ast%C5%8D-consumer-partners Astō Consumer Partners Website: www.Astoconsumer.com Contact Moira directly: [email protected]
Don’t forget to leave a five-star review on Apple Podcasts or Spotify if you enjoyed this episode. For potential sponsorship opportunities or to join the Startup CPG community, visit www.startupcpg.com. Show Links: Transcripts of each episode are available on the Transistor platform that hosts our podcast here (click on the episode and toggle to “Transcript” at the top) Join the Startup CPG Slack community (40K+ members and growing!) Follow @startupcpg Visit host Hannah’s LinkedIn: www.linkedin.com/in/hannah-dittman-011b844b Questions or comments about the episode? Email [email protected] Episode music by Super Fantastics
More from The Startup CPG Podcast
In this Founder Feature, host Caitlin Bricker sits down with Kai Lim and David Yu, co-founders of Reprise Health, a modern gummy brand making Eastern herbal wellness accessible and approachable, to talk about how they built a brand that now spans natural and conventional retail.
In this episode of the Startup CPG Podcast, host Daniel Scharff sits down with Megan Castellon of Syren Spreads, Andrew Kuzera of Ono, and food scientist Andrew Firestone of Firestone Consulting Group to give an inside look at Startup CPG’s first-ever Founders & Formulators event, where brands could get unlimited product feedback and find their ideal formulator match.
In this Founder Fundraising Journey episode, host Hannah Dittman sits down with Zoë Sakoutis, Co-Founder and CEO of Bittman’s and founder of Blueprint, to trace her path from bootstrapping a cold-pressed juice brand to a full acquisition, and now to raising capital again for a whole grain sourdough brand.
In this Founder Feature, host Caitlin Bricker sits down with Darin Alpert, founder of Gheelish, a snack brand built around ghee, the clarified butter, as its star ingredient, for the story of how a cold email to Sprouts turned a kitchen popcorn recipe into a nationwide launch.
In this episode of the Startup CPG Podcast, host Daniel Scharff sits down with David Heiser, Co-Founder of Grassroots Marketing, to walk through a new, free report analyzing 34,000 in-store demos at Whole Foods, Sprouts, Central Market, and Erewhon, and what it means for where, when, and how brands should spend their demo dollars.