Align Ventures — the venture capital firm that backed the likes of Touchland, Coterie, Olipop, Starface and Billie — has closed its second fund.

It revealed the close of its $125 million Early-stage Fund II, surpassing its $100 million target and drew returning Fund I investors alongside new partners. 

The raise builds on strong outcomes from Align’s debut fund, including recent exits from Coterie, acquired by Mammoth Brands, and Touchland, acquired by Church & Dwight. 

Earlier exits include Hims and Billie.

With Fund II, Align will invest $2 million to $10 million initial checks into 15 to 20 brands that aim to transform everyday consumer experiences across categories including beauty, personal care, health, wellness, pet and home. 

Ahead of Fund II, Align warehoused an early-stage investment in California Naturals and recently followed on in the company’s series B. 

As previously reported by WWD, California Naturals’ series B will fuel the brand’s growth in retailers such as Target, Ulta and CVS and support the launch of new categories. 

“We build deep conviction in our prospective partners ahead of an investment and only back a small number of brands each year. That way we can offer meaningful support and shape outcomes for our portfolio companies,” said Ben Bryce, founder and managing partner at Align Ventures. “We offer capital at every stage, access to advisers who have built household names within consumer, and a team that has guided billions in exits.” 

He added that beauty, personal care and wellness will be a big focus for the second fund.

“I sometimes don’t know where these white spaces are going to come from. Like, for example, with Coterie diapers, I didn’t know that premium diapers was a white space. But my job is to kind of cover everything and listen to these founders who have personal stories,” he said. 

Alongside general partners Ben Bryce and Grant Hosking, the investment team includes Andrew Ferrero, Peyton Raun and Melanie Singh, who join Align from firms including Left Lane Capital and The Estée Lauder Cos’ New Incubation Ventures. 

“Ben, Grant and the Align team have not only been dependable investors but also true thought partners and supporters,” said Jess Jacobs, chief executive officer of Coterie. “They consistently lean in where it matters most.”