Spring Acquisition, Valuation, Funding & Investors

Minted is a San Francisco-based online design marketplace, founded in 2007, that connects independent artists and designers with consumers to create custom stationery, wall art, party decor, and home decor products. The platform crowdsources artwork and graphic design from a global community of creators, addressing the stationery, art, and home decor markets. Minted also produces artist-designed textiles and home goods, such as pillows, curtains, and table linens, manufactured on demand.

Betterware de Mexico SAPI de CV is a direct-to-consumer selling company. The company operates through two business segments: the home organization products (Betterware segment or BWM segment) and the beauty and personal care products (B and PC) (JAFRA segment). The Betterware’s segment is divided in seven categories of the home organization: Kitchen and food preservation, Home solutions, Bedroom, Bathroom, Laundry & Cleaning, Tech & mobility and wellness. The JAFRA’s segment is divided into four categories beauty and personal care: fragrance, color (cosmetics), skin care and toiletries. The company generates a majority of its revenue from the Beauty and personal care (B&PC) (JAFRA segment). Geographically, key revenue for the company is derived from Mexico.

TakeOff is a Kansas City-headquartered provider of automated grocery fulfillment systems for supermarkets transitioning to e-commerce. Its micro-fulfillment centers process orders using AI-driven picking robots, reducing assembly times by 40 percent compared to manual methods. The platform integrates with grocers' inventory systems for same-day delivery fulfillment. Deployed in stores across the Midwest United States, TakeOff enables chains like Price Chopper to scale online sales without new warehouse builds.

Brandi is a South Korea-based online retailer selling clothes, cosmetics, and home interior products through its e-commerce platform.

Moda Operandi is a New York-headquartered e-commerce platform connecting consumers with designers for pre-runway purchases. It offers women's apparel, men's wear, fine jewelry, and home goods from established and emerging labels. The site facilitates direct-to-consumer sales and supports designers via global shipping and marketing tools.

Shogun is a San Francisco-headquartered e-commerce platform enabling brands to build custom online stores on Shopify and BigCommerce. Founded in 2015, it offers drag-and-drop page builders, A/B testing tools, product merchandising, and integrations for web content management.

Bobbie is a New York-headquartered direct-to-consumer brand offering organic infant formula via subscription delivery throughout the United States. Sourced from pasture-raised Organic Valley dairy, its products meet FDA standards and hold Clean Label Project Purity Award along with Pesticide Free Certification. Expanded retail availability includes Target stores, with formulations modeled after European recipes for U.S. parents seeking premium nutrition options.

Freshtohome is a Bangalore-based online retailer specializing in fresh seafood and meat products launched in 2015. Customers order from categories including marine fish, freshwater varieties, shellfish, poultry, mutton, steaks, and fillets delivered within hours of processing. The platform connects suppliers directly to consumers, ensuring traceability from catch to doorstep across India and the United Arab Emirates. Freshtohome operates processing plants and cold chain logistics to maintain product quality without preservatives.

Asos is a global e-commerce player focusing on fashion and cosmetics and targeting the youth segment (20-somethings) globally. Of its revenue, 45% comes from its UK home market, 30% from other European Union countries, 13% from the United States, 12% from the rest of the world. The company ships to 240 countries from its three warehouses located in the UK, continental Europe, and the United States. It offers over 85 000 products on its website from third-party brands and its own labels.

Petlove is a Brazilian pet company based in Sao Paulo that sells pet products online and offers pet health plans and services. It was founded by the veterinarian Marcio Waldman and became the largest online pet shop in Brazil. Its group brings together the Petlove store, the DogHero pet-sitting marketplace, the Vet Smart platform for veterinarians, the Vetus management software and the Nofaro pet health plan business, now sold as Petlove Saude. It also serves pet shops and veterinary clinics with software. Investors include Kaszek Ventures, Monashees, Tarpon, SoftBank, L Catterton, Riverwood Capital, Porto Seguro and Globo Ventures. Its largest round was a US$150 million Series C in August 2021 led by Riverwood.

AO World PLC is a European retailer that specializes in electrical products. The company's primary markets include essential domestic appliances, small domestic appliances, and audiovisual equipment. Within the domestic appliances category, AO collaborates with suppliers such as Fisher & Paykel, Daewoo, and Amica. The small domestic appliances segment encompasses a variety of appliances including food preparation appliances, kitchen appliances, and floorcare devices. Additionally, the company offers ancillary services to customers in the UK. AO's main geographical markets are the UK, Germany, and the Netherlands.

Cars.com Inc is an online destination for buying and selling new and used vehicles. It is an audience-driven technology company empowering the automotive industry. The company brands include Dealer Inspire, DealerRater, FUEL, Accu-Trade, PickupTrucks.com, CreditIQ, and NewCars.com., websites directed towards different consumer segments.

Doublefs is a fashion-focused e-commerce platform delivering curated clothing and accessories through its online storefront.

PharmEasy is an Indian online pharmacy and healthcare platform headquartered in Mumbai, operated by its parent API Holdings. It was founded in 2015 and sells prescription and over-the-counter medicines, health products, diagnostic tests and teleconsultations through its app and website, with delivery from partner pharmacies across the country. The group also runs a wholesale business that supplies retail pharmacies and owns a majority of the listed diagnostics chain Thyrocare, bought in 2021 for about INR 45.5 billion. It merged with its rival Medlife in 2021 and bought a majority stake in the healthcare supply chain company Aknamed the same year. Investors have included Bessemer Venture Partners, Temasek, Prosus, TPG and the family office of Ranjan Pai. The company was valued at USD 5.6 billion in a 2021 pre-IPO round, then raised fresh equity at a far lower valuation in 2023 and 2024. API Holdings reported consolidated revenue from operations of INR 58.72 billion for FY25.

Nebula Brands is a technology company specializing in mergers and acquisitions, e-commerce operations, branding strategies, and supply chain logistics. Headquartered in Tel Aviv, it manages a portfolio of direct-to-consumer brands in apparel and consumer goods, leveraging data analytics for inventory optimization across warehouses in Israel and Europe. The firm advises on cross-border retail expansions and partners with platforms like Shopify for scalable online storefronts.

Shanghai Lily & Beauty Cosmetics Co Ltd is a provider of online cosmetics marketing and retailing services in China. The company is authorized by and cooperating with the international cosmetics groups, such as Kanebo, AmorePacific, Henkel, has obtained the authorization of more than 50 renowned brands including Erno Laszlo, Whoo, Sulwhasoo, Laneige and Schwarzkopf to sell their products in China, as a reliable partner.

HelloFresh SE provides fresh, healthy, and personalized meal solutions. The company operates an internet platform that provides customers the choice between various kinds of meals and recipes to be delivered on selected weekdays. It operates in two geographical regions: International and USA. The international segment comprises operations in the United Kingdom, The Netherlands, Belgium, Luxembourg, Denmark, Ireland, Italy, Japan, France, New Zealand, Norway, Spain, Sweden, Australia, Germany, Austria, Canada, and Switzerland. The USA segment comprises operations in the United States of America.

We Buy Cars Holding Ltd is an automotive retailer focused on buying, reconditioning, and retail sales through both physical supermarkets and its digital platforms. The company's two reportable segments are: i) Buyer, distributor and retailer of pre-owned motor vehicles with the attendant sale of finance and insurance products and other ancillary products. ii) Property rental: Rental of warehouses to group companies. The majority of the company's revenue is derived from the Buyer, distributor and retailer of pre-owned motor vehicles segment.